Earnings To Watch: SiteOne (SITE) Reports Q1 Results Tomorrow
Agriculture products company SiteOne Landscape Supply (NYSE:SITE) will be reporting earnings tomorrow morning. Here’s what you need to know.
SiteOne beat analysts’ revenue expectations by 1.3% last quarter, reporting revenues of $1.01 billion, up 5% year on year. It was a strong quarter for the company, with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ adjusted operating income estimates.
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 3.1% year on year to $932.7 million, slowing from the 8% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.43 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 a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 2.7% on average.
Looking at SiteOne’s peers in the specialty equipment distributors segment, some have already reported their Q1 results, giving us a hint as to what we can expect. United Rentals delivered year-on-year revenue growth of 6.7%, beating analysts’ expectations by 2.5%, and Richardson Electronics reported revenues up 2.7%, falling short of estimates by 1.7%. United Rentals traded up 10.1% following the results while Richardson Electronics was down 17.2%.
Read our full analysis of United Rentals’s results here and Richardson Electronics’s results here .
Investors in the specialty equipment distributors segment have had fairly steady hands going into earnings, with share prices down 1.3% on average over the last month. SiteOne is down 5.7% during the same time and is heading into earnings with an average analyst price target of $143.50 (compared to the current share price of $114.50).
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