SiteOne Q3 EPS $1.46, EBITDA +8%, Adds $500M Buyback, Guides FY26 EBITDA to $425-440M
SITE sits 23% above its 52-week low of $82.
Summary
SiteOne posted Q3 EPS of $1.46 with Adjusted EBITDA up 8% to $138.3M despite a 1% organic daily sales decline, and the board added $500 million to the share repurchase program while narrowing FY26 EBITDA guidance to $425-440 million.
Key Events · Earnings and Guidance · SITE
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Q3 EPS $1.46, EBITDA Up 8%
Net sales rose 3% to $1,291.1 million, with acquisitions adding $39.7 million, while organic daily sales fell 1%. Adjusted EBITDA increased 8% to $138.3 million and gross margin expanded 80bps to 35.5%.
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$500M Buyback Authorization Increase
The board added $500.0 million to the existing program, bringing aggregate authorization to approximately $538.3 million including $38.3 million remaining. SiteOne repurchased $62.2 million of shares in Q3.
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FY26 EBITDA Guidance Narrowed
Full-year Adjusted EBITDA is now guided to $425-440 million, down from the prior $425-455 million range, with organic daily sales expected flat to down 1%.
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Q4 Restructuring Charge of $6-8M
Management plans to reduce workforce and consolidate or close branches in the fourth quarter, incurring a $6 million to $8 million charge to Adjusted EBITDA.
Analysis · SITE · Trade & Services
Top-line softness told only part of the story: organic daily sales fell 1% as hot, dry weather delayed the fall season, yet margins carried the quarter, with gross margin expanding 80bps to 35.5% and Adjusted EBITDA rising 8% to $138.3M. Capital allocation drew the bigger headlines. The board added $500 million to the buyback, lifting total authorization to roughly $538.3 million, and the company already spent $62.2 million on repurchases in the quarter. Against that, management narrowed FY26 Adjusted EBITDA guidance to $425-440 million (from $425-455M) and flagged a $6-8 million Q4 charge for workforce cuts and branch closures. Net debt rose to $522.6 million from $422.5 million a year ago, though leverage is still modest at 1.2x.
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At the time of this filing, SITE was trading at $101.01 on NYSE in the Trade & Services sector, with a market capitalization of approximately $4.5B. The 52-week trading range was $82.00 to $168.56. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.