SiteOne Landscape Supply, Inc.: Initiation Of Coverage – Strategic Acquisitions & 3 Other Fundamental Aspects Fueling Its Growth!

SiteOne Landscape Supply Inc. ended the year 2023 with notable growth in their 4th quarter, coupled with a modest increase in adjusted EBITDA, an 8% growth in net sales, and a record operating cash flow. The company also made 11 acquisitions, adding companies with strong customer relationships while also expanding their product lines. However, 2023 presented some challenges including lower market demand, mounting operating costs, gross margin normalization, and commodity price deflation.