SiteOne Landscape Supply: Rises on surprise profit

SiteOne Landscape Supply

18/02/2020 17:44

** Shares of irrigation and landscape accessories supplier
 SITE.N  up ~7% at $112.96
    ** Co reports Q4 adj. profit of 11 cents/shr, while analysts
were estimating a loss of 5 cents/shr - Refinitiv IBES
    ** Net sales up ~13% to $535 mln, beating estimates
 urn:newsml:reuters.com:*:nBw4GS9mca
    ** SITE sees steady demand in maintenance end market;
expects another year of mid-single-digit organic daily sales
growth in 2020, supported by healthy residential construction
outlook
    ** Also expects good acquisition activity in 2020 along with
higher average revenue per acquired company
    ** Brokerage Jefferies expects significant organic and
inorganic growth versus regional and local competitors, and
margin upside from purchasing, digital business and private
label initiatives
    ** Avg. rating on stock is "buy"; median PT is $88
    ** Including session's gain, stock up 24.6% YTD

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