SiteOne Landscape Supply, Inc. (SITE) saw its stock price plummet by 5.01% on October 31, 2024, after the company reported disappointing third-quarter earnings results.
According to the Q3 2024 earnings release, SiteOne reported an adjusted earnings per share (EPS) of $0.97, missing the Zacks Consensus Estimate of $1.18. The company's revenue of $1.21 billion for the quarter surpassed expectations, but the lower-than-expected earnings figure seems to have negatively impacted investor sentiment.
The earnings miss could be attributed to various factors, including increased costs or operational challenges that the company might have faced during the quarter. However, SiteOne did not provide specific details on the reasons behind the lower earnings in the news article.
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