SiteOne Landscape Supply Reports Worse Than Expected Q4 Results
<p><a href='https://financialmodelingprep.com/financial-summary/SITE'>SiteOne Landscape Supply (NYSE:SITE)</a> reported its Q4 results on Wednesday, with EPS of ($0.02) coming in significantly worse than the Street estimate of $0.16. Revenue was $890 million, slightly lower than the Street estimate of $892.65 million.</p>
<p>The company issued initial guidance for its fiscal 2023, with organic daily sales expected to be flat to down mid-single-digits, with a return to a more normal seasonal sales pattern, and adjusted EBITDA margins normalizing to approximately 10% as implied by the company's adjusted EBITDA guidance range of $395-425 million. </p>
<p>Deutsche Bank analysts view the guidance as achievable, particularly with respect to assumptions around the new residential end market, and model toward the middle of the company's organic sales range. The analysts raised their price target on the stock to $163 from $126, while reiterating their Hold rating.</p>

NYSE:SITE