SiteOne Landscape Supply, Inc. (NYSE:SITE) Q4 2022 Earnings Call Transcript

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SiteOne Landscape Supply, Inc. (NYSE:SITE) Q4 2022 Earnings Call Transcript February 15, 2023

Operator: Greetings and welcome to SiteOne Landscape Supply Fourth Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. 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, sir. You may begin.

John Guthrie: Thank you, and good morning, everyone. We issued our fourth quarter and full year 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 achieved another year of double-digit growth in organic daily sales, net sales and adjusted EBITDA in 2022 on top of the record growth in 2021. I'm very proud of our terrific teams, who continue to get stronger every year and who adapted well to the challenges of continued high inflation, tight labor and reduced product volume last year. We were also very pleased to add a record 16 new high-performing companies to SiteOne during the year. All these companies have talented teams and strong customer relationships, and they expand our product lines and market presence in their respective markets. Through the execution of our commercial and operational initiatives and our acquisition strategy, we continue to build SiteOne as a world-class market leader for the long-term, while delivering consistent performance and growth in the near-term.