What Happened?
Shares of agriculture products company SiteOne Landscape Supply (NYSE: SITE) fell 14.3% in the afternoon session after it reported disappointing first-quarter 2026 financial results, missing both sales and earnings estimates and providing a weak outlook.
The landscape supply company posted revenue of $940.1 million, falling short of analyst expectations of $980.8 million. The earnings miss was more pronounced, with a reported loss of $0.60 per share, which was wider than the consensus estimate of a $0.48 per share loss. Adding to investor concerns, SiteOne's guidance for full-year adjusted EBITDA was $440 million at the midpoint, below analyst forecasts of approximately $448.7 million. While net sales were essentially flat compared to the same period last year, organic revenue, a key performance indicator, decreased by 1%.
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What Is The Market Telling Us
SiteOne’s shares are somewhat volatile and have had 13 moves greater than 5% over the last year. But moves this big are rare even for SiteOne and indicate this news significantly impacted the market’s perception of the business.
The biggest move we wrote about over the last year was 6 months ago when the stock gained 10.3% on the news that the company reported third-quarter results that beat analysts' profit estimates. The company's sales of $1.26 billion were up 4.1% year on year, meeting Wall Street's expectations.
More impressively, organic revenue grew 3%, significantly outpacing the 1.1% growth analysts had projected. SiteOne's GAAP earnings per share came in at $1.31, which was 6% ahead of consensus estimates. Adjusted EBITDA also outperformed, reaching $127.5 million against an expected $124 million. However, the report was not entirely positive, as the company's full-year EBITDA guidance of $410 million at the midpoint was slightly below the $414.7 million analysts were forecasting. Despite the mixed report, investors appeared to focus on the better-than-expected profitability and organic growth.
SiteOne is down 2.9% since the beginning of the year, and at $121.38 per share, it is trading 25.6% below its 52-week high of $163.25 from February 2026. Investors who bought $1,000 worth of SiteOne’s shares 5 years ago would now be looking at only $648.24.
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