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SiteOne Sales Jump 15% in 2020
Landscape supply distributor SiteOne Landscape Supply Inc. also reported that revenue grew 26% in the fourth quarter.
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SiteOne Landscape Supply Inc. (NYSE: SITE), Roswell, Georgia, on Wednesday announced sales for 2020 of $2.7 billion, up 15% from 2019. Net income was up 56% to $121.3 million.
“The stay-at-home trend associated with COVID-19 has increased demand for new homes and accelerated investment in outdoor living, both of which have increased demand for landscaping products,” said Doug Black, SiteOne’s chairman and CEO. “This strong demand, coupled with our market share gains, helped us to achieve 8% Organic Daily Sales growth for the year. Our teams leveraged the strong sales growth through disciplined cost management and great execution of our initiatives to achieve excellent Adjusted EBITDA growth, Adjusted EBITDA margin expansion and record operating cash flow.” ....

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