SiteOne Landscape Supply entered the final stretch of 2025 with modest gains, steady execution, and a clear message: even in a slow market, the company is finding ways to grow.
The distributor, which serves landscape contractors, builders, and maintenance firms across the U.S. and Canada, said third-quarter sales rose slightly as pricing improved and its branches continued to capture new customers. CEO Doug Black said the results showed that SiteOne’s local teams “continued to leverage our capabilities to gain market share,” despite lingering weakness in construction and repair spending.
“We are pleased to report another quarter of strong operational performance,” Black said during the company’s quarterly update. “Our teams delivered meaningful operating leverage despite challenging end markets.”
For the three months ending Sept. 28, SiteOne generated about $1.26 billion in sales, a 4% from a year earlier from sales of $1.208 billion in Q3 2024. Net income was $60.6 million compared with $44.6 million in the prior year. For the first nine months, sales totaled $3.659 billion up slightly from $3.527 billion in the prior year. Black said that improvement reflected tighter expense control, steadier pricing, and solid contributions from every region.
The quarter’s modest growth came in the face of continued headwinds. Residential construction remained sluggish, particularly in the Sunbelt states where SiteOne has a large footprint. Repair and upgrade work was also down, though Black said that segment “is beginning to stabilize.” Maintenance work, which makes up the largest portion of the company’s business, continued to expand.
Black said prices for many products have begun to recover after two years of deflation in basic materials such as grass seed and PVC pipe. Pricing rose about one percent in the quarter, enough to lift margins and offset higher costs in other areas. He credited SiteOne’s focus on private-label products and small-customer programs for helping to sustain growth even as market volumes softened.
Behind those results was a company that has been quietly tightening its operations. Spending rose only slightly from last year, while efficiency improved across its branch network. SiteOne has been using new logistics software and internal productivity programs to make deliveries more efficient and to improve customer service. The company’s website and digital ordering platform have also been gaining traction, with online sales growing faster than traditional orders.
SiteOne continued its steady stream of acquisitions, adding three distributors during the quarter — Grove Nursery in Minnesota, Nashville Nursery & Landscape Supply in Tennessee, and Autumn Ridge Stone & Landscape Supply in Michigan — and another, Red’s Home & Garden in North Carolina, shortly after the quarter ended. Those purchases expanded SiteOne’s reach in several regional markets and brought new local expertise into the company.
“We completed six acquisitions year-to-date which expand our capabilities to serve our customers in those local markets,” Black said.
The company also continued returning capital to shareholders, buying back about $20 million in stock after the quarter closed. Black emphasized that SiteOne remains financially sound, with a strong balance sheet and enough flexibility to continue acquiring businesses as opportunities arise.
Looking ahead, Black described the broader market as uneven. New residential construction, which accounts for one-fifth of SiteOne’s sales, is expected to remain soft through year-end, held back by high interest rates and reduced consumer confidence. Repair and upgrade demand should stay flat but stable, while maintenance work is likely to post modest gains. Commercial and recreational construction, which makes up the smallest portion of SiteOne’s business, is expected to hold steady.
To keep costs aligned with demand, the company plans to consolidate or close a small number of branches in the final months of the year, shifting customers to nearby locations. Black said the move will help streamline operations without disrupting service.
“We expect the softness in new residential construction and repair work to continue through the end of the year,” he said. “At the same time, we believe our maintenance business will keep growing modestly, and our commercial business should stay steady.”
Even as the company tightens its footprint, Black said SiteOne is positioned for long-term growth. The distributor remains more than three times the size of its nearest competitor but still controls less than one-fifth of the fragmented $25 billion market share, leaving significant room to expand.
“While we expect end-market softness to persist through the end of the year, we have the ability, through our commercial and operational initiatives, to achieve above-market growth and strong leverage,” Black said. “With our leading market position, excellent teams, operational execution, and proven acquisition strategy, we are confident in our ability to deliver value for our customers and drive continued performance and growth.”
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