SiteOne Landscape Supply recently released its 10-K report for the fiscal year ended December 28, 2025, providing an in-depth look at the company's financial performance and operations. SiteOne Landscape Supply, Inc. is a leading wholesale distributor of landscape supplies in the United States and Canada, offering a comprehensive range of products including irrigation supplies, fertilizer, hardscapes, nursery goods, outdoor lighting, and more. The company serves residential and commercial landscape professionals, providing consultative services and distributing branded products of third parties.
In the 2025 fiscal year, SiteOne Landscape Supply faced a challenging end market environment due to economic uncertainty, elevated interest rates, weakened consumer confidence, and low existing home sales. However, the company still managed to achieve a 4% growth in net sales, primarily driven by sales initiatives and contributions from acquisitions. Organic daily sales increased by 1% with pricing having a negligible impact. Gross margin increased by 40 basis points, primarily due to improved price realization, benefits from commercial initiatives, and contributions from acquisitions.
Selling, general and administrative expenses (SG&A) increased by 2% for the fiscal year, but as a percentage of net sales, SG&A decreased by 40 basis points to 30.1%, driven by improved operating leverage from productivity initiatives. Net income attributable to SiteOne increased by 23% for the fiscal year, primarily due to net sales growth, improved gross margin, and lower SG&A as a percentage of net sales.
Looking ahead to the 2026 fiscal year, SiteOne Landscape Supply expects the impact of pricing on organic sales growth to improve, with positive pricing in most product categories, while commodity products like grass seed and PVC pipe are becoming less of a headwind. The company remains confident in the landscape supply industry's growth opportunities and its ability to provide exceptional value to customers, suppliers, and shareholders.
SiteOne Landscape Supply's financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (GAAP). The company manages its business as a single reportable segment, evaluating performance at a consolidated level. Key financial metrics include net sales, non-GAAP organic sales, non-GAAP selling days, non-GAAP organic daily sales, cost of goods sold, gross profit, gross margin, selling, general and administrative expenses, and non-GAAP adjusted EBITDA.
The company's operating results are impacted by seasonality, with higher net sales and net income in the second and third quarters due to favorable weather conditions and longer daylight, while net sales are lower in the first and fourth quarters. Additionally, SiteOne Landscape Supply's business depends on demand from customers for landscape products and services, making it sensitive to trends in residential housing, commercial building, home prices, mortgage interest rates, and consumer spending.
Today the company's shares have moved -1.52% to a price of $147.53. If you want to know more, read the company's complete 10-K report here.
