Landscape supplies distributor SiteOne Landscape Supply reported its 2024 third quarter financial results on Oct. 30, showing an increase in sales and profit, but a slight decrease in organic sales.

The Rosewell, GA-based company posted total 3Q sales of $1.21 billion, an increase of 6% year-over-year. The company’s sales were impacted by acquisitions, which contributed $77.3 million. Organic sales decreased 1% year-over-year, predominantly caused by price deflation of commodity products offsetting positive volume growth.

SiteOne reported $44.4 million in net profit, down from the $57.3 million of a year prior. This decrease reflected the organic sales decline and lower gross margin in the Base Business.

Gross margin was 34.0%, an increase of 10 basis points from the year prior. The company said this improvement reflected the impact of acquisitions, offset by lower price realization in the Base Business year-over-year.

The company’s adjusted EBITDA of $114.8 million decreased by 4% compared to 3Q23’s 119.8 million. Adjusted EBITDA margin rose 100 bps to 9.5%.

“Overall, our teams are executing our strategy, outperforming the market with organic sales volume growth, and pushing forward on our commercial and operational initiatives to yield organic growth and adjusted EBITDA margin expansion in 2025 and beyond,” SiteOne Chairman and CEO Doug Black said in the company’s financial release. “With a clear leadership position in wholesale landscape distribution, strong teams, a robust acquisition pipeline, and a winning strategy to create value for our stakeholders, we are confident in our ability to perform and grow in the years to come.”

Looking forward, SiteOne expects adjusted EBITDA between $370 million to $380 million. The company also anticipates a negative impact on sales from hurricanes Helene and Milton.

SiteOne was No. 10 on MDM’s Top Distributors List for Building Materials/Construction.