SiteOne Landscape Supply, Inc. (NYSE:SITE) Q1 2022 Earnings Conference Call May 4, 2022 8:00 AM ET

Company Participants

Doug Black - Chief Executive Officer

John Guthrie - Executive Vice President and Chief Financial Officer and Assistant Secretary

Scott Selman - Executive Vice President Strategy and Development

Conference Call Participants

David Manthey - Baird

Stephen Volkmann - Jefferies

Ryan Merkel - William Blair

Keith Hughes - Truist Securities

Mike Dahl - RBC Capital Markets

Jeffrey Stevenson - Loop Capital Markets

Operator

Greetings, and welcome to the SiteOne Landscape Supply First Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Mr. John Guthrie, Executive Vice President and Chief Financial Officer for SiteOne Landscape Supply. Thank you. You may begin.

John Guthrie

Thank you and good morning, everyone. We issued our first quarter 2022 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 Selman, 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 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. Following an exceptional year in 2021 with record sales growth and profitability and considering the tremendous first quarter that we had last year with 32% organic daily sales growth. We were pleased to see our momentum continue as we build on these gains in 2022.

With 17% organic daily sales growth, 24% overall sales growth and improved profitability during the first quarter, we are off to another excellent start this year. We are encouraged by the continued healthy underlying demand and with our strong teams, improved capabilities, and a robust pipeline of potential acquisitions, we are confident that 2022 will be another great year of performance and growth for SiteOne.