SiteOne (SITE) To Report Earnings Tomorrow: Here Is What To Expect

SITE Cover Image

Agriculture products company SiteOne Landscape Supply (NYSE: SITE) will be reporting results this Wednesday morning. Here’s what to look for.

SiteOne met analysts’ revenue expectations last quarter, reporting revenues of $1.46 billion, up 3.4% year on year. It was a satisfactory quarter for the company, with full-year EBITDA guidance exceeding analysts’ expectations but revenue in line with analysts’ estimates.

Is SiteOne a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting SiteOne’s revenue to grow 3.9% year on year to $1.26 billion, slowing from the 5.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.29 per share.

SiteOne Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. SiteOne has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 1.5% on average.

Looking at SiteOne’s peers in the specialty equipment distributors segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Richardson Electronics delivered year-on-year revenue growth of 1.6%, beating analysts’ expectations by 6%, and Custom Truck One Source reported revenues up 7.8%, falling short of estimates by 1.5%. Richardson Electronics traded up 11.4% following the results.

Read our full analysis of Richardson Electronics’s results here and Custom Truck One Source’s results here.

There has been positive sentiment among investors in the specialty equipment distributors segment, with share prices up 3.8% on average over the last month. SiteOne is down 2.7% during the same time and is heading into earnings with an average analyst price target of $152.90 (compared to the current share price of $124.41).

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