SiteOne Landscape Supply, Inc. (NYSE:SITE) Q1 2023 Earnings Conference Call May 3, 2023 8:00 AM ET

Company Participants

John Guthrie - Executive Vice President and Chief Financial Officer

Doug Black - Chairman and Chief Executive Officer

Scott Salmon - Executive Vice President, Strategy and Development

Conference Call Participants

David Manthey - Baird

Ryan Merkel - William Blair

Matthew Bouley - Barclays

Keith Hughes - Truist Securities

Jeff Stevenson - Loop Capital Markets

Joe Ahlersmeyer - Deutsche Bank

Stephen Volkmann - Jefferies

Operator

Greetings and welcome to the SiteOne Landscape Supply Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, John Guthrie, Executive Vice President and Chief Financial Officer. Please go ahead.

John Guthrie

Thank you and good morning, everyone. We issued our first quarter 2023 earnings press release this morning and posted a slide presentation to the Investor Relations portion of our website at investors.siteone.com. I am joined today by Doug Black, our Chairman and Chief Executive Officer and Scott Salmon, Executive Vice President, Strategy and Development.

Before we begin, I would like to remind everyone that today’s press release, slide presentation and the statements made during the call include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties that could cause actual results to differ materially from our expectations and projections. Such risks and uncertainties include the factors set forth in the earnings press release and in our filings with the Securities and Exchange Commission. Additionally, during today’s call, we will discuss non-GAAP measures, which we believe can be useful in evaluating our performance. A reconciliation of these measures can be found in our earnings release and in the slide presentation.

I would now like to turn the call over to Doug Black.

Doug Black

Good morning and thank you for joining us today. Against the headwinds of a very strong prior year period, poor weather in the West and North and moderating market demand, we executed well in the first quarter, delivering top line growth and gross margin expansion, along with a solid EBITDA outcome in this traditionally low volume quarter. We are also very pleased to add two new high-performing companies to SiteOne during the first quarter. These companies have talented teams and strong customer relationships and expand our product lines and market presence in their respective markets.