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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