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SiteOne Landscape Supply Q3 Profit Slightly Down, Yet Beats Estimates

SiteOne Landscape Supply, Inc. (SITE) Wednesday announced a decline in third-quarter profit, despite an 18 percent increase in net sales, compared to the prior year.

Profit for the third quarter was $73.3 million or $1.60 per share, down 8 percent to $80.0 million or $1.74 per share last year.

On average, 9 analysts polled by Thomson Reuters expected the company to earn $1.52 per share. Analysts' estimates usually exclude special items.

Revenue for the quarter increased to $1.102 billion, from $936.4 million a year ago. Analysts were looking for $1.04 billion.

Looking ahead to fiscal 2022, the company expects Adjusted EBITDA to be in the range of $455 million to $470 million, up 10-13 percent from the fiscal 2021.

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