Agriculture products company SiteOne Landscape Supply (NYSE:SITE) will be reporting earnings tomorrow before market open. Here’s what you need to know.
SiteOne beat analysts’ revenue expectations by 1.5% last quarter, reporting revenues of $1.21 billion, up 5.6% year on year. It was a slower quarter for the company, with full-year EBITDA guidance missing analysts’ expectations.
Is SiteOne a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting SiteOne’s revenue to grow 3.7% year on year to $1 billion, slowing from the 8.4% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.24 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. SiteOne has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 2.5% on average.
Looking at SiteOne’s peers in the industrial distributors segment, some have already reported their Q4 results, giving us a hint as to what we can expect. United Rentals delivered year-on-year revenue growth of 9.8%, beating analysts’ expectations by 3.9%, and Richardson Electronics reported revenues up 12.1%, falling short of estimates by 3.5%. United Rentals traded up 2% following the results while Richardson Electronics was down 13.1%.
Read our full analysis of United Rentals’s results here and Richardson Electronics’s results here.
There has been positive sentiment among investors in the industrial distributors segment, with share prices up 2.3% on average over the last month. SiteOne is up 1.9% during the same time and is heading into earnings with an average analyst price target of $155.89 (compared to the current share price of $134.07).
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