Acquisitions contributed $41.9 million, or 5%, to Net sales growth for the quarter. Organic Daily Sales increased 7% compared to the prior-year period primarily driven by price inflation in response to elevated product costs. Net sales for the fourth quarter of Fiscal 2022 increased to $890.0 million, or 11%, compared to $805.2 million for the prior-year period. As we face the economic headwinds of 2023, we will continue to leverage our exceptional teams, market leadership position, strong balance sheet, and ongoing commercial and operational initiatives to outperform the market organically, build our company through acquisition, and further execute our long-term growth strategy.” We also added 16 new high-performing companies with 48 locations and approximately $240 million in trailing twelve-month sales to SiteOne in 2022. “Working through the challenges of continued high price inflation and reduced volume, our teams executed at a high level and delivered another record year while improving our capabilities for performance and growth in the years to come. “We finished the year well against a very strong fourth quarter performance in 2021, capping off an excellent year in 2022 of double-digit growth in Net sales and Adjusted EBITDA, resilient Adjusted EBITDA margin and good cash flow,” said Doug Black, SiteOne’s Chairman and CEO. (the “Company” or “SiteOne”) (NYSE: SITE) announced earnings for its fourth quarter and full fiscal year ended Janu(“Fiscal 2022”). Net debt to Adjusted EBITDA at year-end was 0.8x, compared to 0.6x at year-end 2021 Net income for the year increased 3% to $245.4 millionĪdjusted EBITDA increased 12% to $464.3 millionĪdjusted EBITDA margin decreased 30 basis points to 11.6%Ĭlosed 16 acquisitions during the year with approximately $240 million in trailing twelve months Net sales SG&A as a percentage of Net sales increased by 140 basis points to 27.3% Gross profit increased 17% to $1.42 billion Gross margin increased 50 basis points to 35.4% Net sales increased by 16% to $4.01 billion SG&A as a percentage of Net sales increased 350 basis points to 34.2%Īdjusted EBITDA decreased 37% to $38.9 million Adjusted EBITDA margin was 4.4%Ĭlosed three acquisitions: Madison Block & Stone, Telluride Natural Stone, and Whittlesey Landscape Supplies & Recyclingīoard of Directors approved $400 million share repurchase authorization repurchased $25.0 million of sharesįull Year 2022 Highlights (Compared to Full Year 2021): ![]() Gross profit increased 7% to $302.6 million Gross margin was 34.0% Net sales increased 11% to $890.0 million SiteOne Landscape Supply Announces Fourth Quarter and Full Year 2022 Earningsįourth Quarter 2022 Highlights (Compared to Fourth Quarter 2021):
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