SiteOne Landscape Supply (SITE) is down after releasing first-quarter 2026 earnings before the open on April 29, 2026. The quarter showed demand softness beneath the surface: organic daily sales declined 1% as unfavorable weather reduced volumes across several regions, outweighing positive pricing.

Net sales rose slightly to $940.1 million (up $0.7 million year over year), while organic daily sales fell 1% and acquisitions added $12.4 million of sales. Profitability improved on an operating basis—gross margin expanded 90 basis points to 33.9% and Adjusted EBITDA increased 14% to $25.5 million—but SG&A rose as a percentage of sales and the company still reported a net loss attributable to SiteOne of $26.6 million.

SiteOne kept its full-year fiscal 2026 Adjusted EBITDA forecast unchanged at $425 million to $455 million, while noting that overall end-market demand is expected to be down modestly in 2026 amid macro uncertainty and weakness in new residential construction. Management said the spring season started later than 2025 due to weather and that April sales volumes have improved so far, making near-term read-through on in-season demand and mix a central focus for investors.

During the quarter, SiteOne repurchased $20.0 million of shares and completed acquisitions of Bourget Flagstone and Reinders. After quarter-end, it amended its asset-based lending (ABL) facility and extended the maturity to April 2031, a move that can bolster liquidity flexibility heading into the core selling season.