Agriculture products company SiteOne Landscape Supply (NYSE: SITE) will be announcing earnings results this Wednesday before the bell. Here’s what to look for.
SiteOne missed analysts’ revenue expectations last quarter, reporting revenues of $1.05 billion, up 3.2% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.
Is SiteOne a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting SiteOne’s revenue to grow 4.4% year on year, in line with the 3.8% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. SiteOne has missed Wall Street’s revenue estimates multiple times over the last two years.
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. Richardson Electronics delivered year-on-year revenue growth of 3.1%, beating analysts’ expectations by 4.4%, and Custom Truck One Source reported revenues up 9.3%, topping estimates by 1.6%. Richardson Electronics traded up 22.7% following the results.
Read our full analysis of Richardson Electronics’s results here and Custom Truck One Source’s results here.
There has been positive sentiment among investors in the specialty equipment distributors segment, with share prices up 15.1% on average over the last month. SiteOne is up 9.9% during the same time and is heading into earnings with an average analyst price target of $169.27 (compared to the current share price of $142.85).
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