SiteOne Landscape Supply Inc. (SITE): 2026 Earnings Recap: Strategic Initiatives Help Offset Housing Headwinds, Though Visibility to Demand and Margins is Limited

Research evidence excerpt

SiteOne Landscape Supply Inc. (SITE): 2026 Earnings Recap: Strategic Initiatives Help Offset Housing Headwinds, Though Visibility to Demand and Margins is Limited

Equity Research

29 July 2026 | 4:41PM EDT

(SITE)SiteOne Landscape Supply Inc.

2Q26 Earnings Recap: Strategic Initiatives Help Offset Housing Headwinds, Though

Visibility to Demand and Margins is Limited

SITE 12m Price Target: $112.00 Price: $103.47 Upside: 8.2% NEUTRAL

Charles Perron-Piche, CFA

Persistent Macro Headwinds Mitigate Strategic Initiatives: +1(917)343-1847 | charles.perron-piche@gs.com

Goldman Sachs & Co. LLC

Coming away from 2Q results, we remain confident in SiteOne’s

Susan Maklariability to realize its long-term growth runway and structural +1(212)357-3906 | susan.maklari@gs.com

profitability gains as it executes on its commercial and operational Goldman Sachs & Co. LLC

initiatives discussed at its recent investor day. On the call, Rhea+1(332)245-7517Bhatia | rhea.bhatia@gs.com

management noted commercial efforts are fully deployed, Goldman Sachs India SPL

underscored by steady digital and small-customer penetration, 40%

Key Data _____________________________________YOY growth in key private label sales, and strategic branch and

Market cap: $4.6bn

product additions. We are also encouraged by the targeted Enterprise value: $4.9bn

additional cost-reduction actions aimed at keeping 2026 3m ADTV:United$101.2mnStates

SG&A/sales flat. However, near-term execution is increasingly Americas Homebuilders & Building Products

M&A Rank: 3

overshadowed by a deteriorating macro backdrop. This reflects GS Forecast __________________________________

another step-down in broader repair & upgrade demand this spring 12/25 12/26E 12/27E 12/28E