Siteone Landscape Supply Down 13.51% To $119.16 After Earnings Miss

Wednesday, November 1, 2023 - Siteone Landscape Supply (SITE) reported downside earnings and upside revenues.

Siteone Landscape Supply's earnings came in at an EPS of $1.25 per share, 13% lower than estimates for an EPS of $1.44 per share. The firm's earnings are down 22% since reporting $1.6 per share in the same period a year ago.

Analyst projections for Siteone Landscape Supply revenue came in at a consensus of $1.1 billion. Third-Quarter revenues surpassed estimates for $1.1 billion by $5 million (0%). The company achieved 4% growth year-over-year compared to the firm's revenue of $1.1 billion from the year-ago quarter. The lower earnings growth relative to revenue signals Siteone Landscape Supply has not been able to improve its profit margin.

The stock is down 13.51% to $119.16 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 56. Meanwhile, the average Wall Street analyst rated the stock a Buy.

SiteOne Landscape Supply Inc is one of the largest suppliers of tools and equipment. The company serves various businesses which include wholesale irrigation, outdoor lighting, nursery, landscape supplies, grass seeds, and fertilizers, turf protection products, turf care equipment, and golf course accessories for green industry professionals mainly in the United States and Canada. Its product portfolio includes irrigation supplies, fertilizer and herbicides, landscape accessories, nursery goods, natural stones and blocks, outdoor lighting and ice melt products and other products.