SiteOne Landscape Supply, Inc., (NYSE:SITE), Roswell, GA, wholesale distributor of landscape supplies, announced sales for its fiscal 2022 second quarter ended July 3, 2022, were $1.22 billion, up 12% from the prior-year period.
Net profit for the quarter was $461.1 million, up 19% from the prior-year period.
“Our momentum for the year continued into the second quarter despite challenging weather in April and May and very tough comparable volume growth in the second quarter of 2021,” said Doug Black, Chairman and CEO. “Our teams are executing well, and we continue to improve our capabilities through our strategic initiatives. Additionally, we have seen an acceleration in our acquisition activity with eight new companies joining SiteOne year-to-date.”
Ian Heller is the Founder and Chief Strategist for Distribution Strategy Group. He has more than 30 years of experience executing marketing and e-business strategy in the wholesale distribution industry, starting as a truck unloader at a Grainger branch while in college. He’s since held executive roles at GE Capital, Corporate Express, Newark Electronics and HD Supply. Ian has written and spoken extensively on the impact of digital disruption on distributors, and would love to start that conversation with you, your team or group. Reach out today at firstname.lastname@example.org.