SiteOne Landscape Supply, Inc. (NYSE:SITE) Q3 2022 Results Conference Call November 2, 2022 8:00 AM ET

Company Participants

John Guthrie - EVP and CFO

Doug Black - Chairman and CEO

Scott Salmon - EVP, Strategy and Development

Conference Call Participants

David Manthey - Baird

Stephen Volkmann - Jefferies

Matthew Bouley - Barclays

Ryan Merkel - William Blair

Mike Dahl - RBC Capital Markets

Keith Hughes - Truist

Jeff Stevenson - Loop Capital

Andrew Carter - Stifel

Operator

Greetings, and welcome to the SiteOne Landscape Supply, Inc. Third Quarter 2022 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. Thank you, John, you may begin.

John Guthrie

Thank you, and good morning, everyone. We issued our third quarter’s 2022 earnings press release this morning and posted a slide presentation to the Investor Relations portion of our website at investors.siteone.com.

I’m 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 this 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 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

Thank you, John. Good morning, and thank you for joining us today. We are pleased to continue our positive momentum during the third quarter, with solid growth in net sales and adjusted EBITDA despite the strong comparable growth and outsized gains in gross margin that we achieved in the second half of last year. We are also very pleased to add 7 new high-performing companies to SiteOne over the last 4 months, bringing our total number of acquisitions completed year-to-date to 14. All these companies have talented teams and terrific customer relationships, and expand our product lines and market presence in their respective markets.