SITEONE LANDSCAPE SUPPLY Reports Fourth Quarter Fiscal Year 2022 Financial Results

Earnings report

On February 15, 2023, SITEONE LANDSCAPE SUPPLY ($NYSE:SITE) reported its financial results for the fourth quarter of fiscal year 2022. The company experienced a 103.3% decrease in total revenue to -0.9 million USD compared to the same period in the prior year. Despite this, net income was 890.0 million USD, an increase of 10.5% year over year. This indicates that SITEONE LANDSCAPE SUPPLY has managed to maintain a healthy financial standing despite challenging market conditions. The company’s strong performance can be attributed to a number of factors. Management implemented cost-reduction strategies and increased efficiency in operations.

Additionally, the company was able to capitalize on growth opportunities by expanding its product lines and services. This has allowed SITEONE LANDSCAPE SUPPLY to remain competitive in the industry and position itself for further growth and success in the future.

Share Price

The stock opened the trading session at $150.2 and closed it at $159.1, a change of 1.8% from its last closing price of 156.3. This uptick in value marked an encouraging sign for shareholders of the company, which has been striving to maintain financial stability amidst the pandemic. Overall, SITEONE LANDSCAPE SUPPLY showed that it had achieved promising financial results in Q4 of FY2022.

This is likely to be seen as a reassuring sign for investors and potential customers who are looking to work with the company in the near future. Furthermore, its strong performance may also indicate potential opportunities for further growth moving forward. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for SITE. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for SITE. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for SITE. More…

Key Ratios Snapshot

Some of the financial key ratios for SITE are shown below. More…

Analysis

At GoodWhale, we recently performed an analysis of SITEONE LANDSCAPE SUPPLY’s wellbeing. We concluded that, based on Risk Rating, it is a medium risk investment in terms of financial and business aspects. We have detected 1 risk warning in the balance sheet of SITEONE LANDSCAPE SUPPLY. To gain more insight on this issue, you can register on our website, goodwhale.com. On our website, you will have access to all the necessary information to make an informed decision. More…

Peers

The company offers a wide range of products, including irrigation supplies, nursery stock, landscape tools and accessories, and more. SiteOne Landscape Supply Inc competes with Hydrofarm Holdings Group Inc, MAX Co Ltd, Thorpe (F W) PLC, and others in the landscape supplies industry.

– Hydrofarm Holdings Group Inc ($NASDAQ:HYFM)

Hydrofarm Holdings Group Inc is a leading manufacturer and distributor of hydroponic equipment and supplies in the United States. The company has a market cap of 102.81M as of 2022 and a Return on Equity of -41.86%. Hydrofarm Holdings Group Inc is a publicly traded company on the NASDAQ stock exchange under the ticker symbol HYFG. The company’s products are used by commercial and hobbyist growers to produce fruits, vegetables, and herbs.

– MAX Co Ltd ($TSE:6454)

As of 2022, Daikin Industries, Ltd. has a market capitalization of 97.87 billion dollars and a return on equity of 7.15%. Daikin is a Japanese multinational air conditioning manufacturing company with headquarters in Osaka. The company makes a wide range of products including air conditioners, refrigerators, and chemicals. It also provides services such as installation, repair, and maintenance.

– Thorpe (F W) PLC ($LSE:TFW)

Thorpe (F W) PLC is a British engineering company. The company is headquartered in Derby, England. Thorpe (F W) PLC designs, manufactures, and supplies equipment and services for the rail, construction, and mining industries. The company’s products and services include locomotives, railway cars, and railway infrastructure. Thorpe (F W) PLC has a market cap of 474.63M as of 2022, a Return on Equity of 10.79%.

Summary

SITEONE LANDSCAPE SUPPLY recently released its financial results for the past quarter, revealing a notable decrease in total revenue of -0.9 million USD. Despite this decline in income, the company’s net income grew by 10.5% year over year to 890.0 million USD. These results demonstrate the resilience of the business in the face of challenging market conditions. Investors may find SITEONE LANDSCAPE SUPPLY’s results encouraging, suggesting potential for future growth despite current economic adversities.