Based on the company's performance through the first half of 2023, as well as our improved macroeconomic forecast, we now expect it will generate S&P Global Ratings-adjusted earnings of $475 million-$500 million in 2023 (compared with our previous expectation of $425 million-$475 million). Our forecast assumes a low single digit percent increase in SiteOne's organic volumes, relatively flat price realizations, and incremental volumes from its acquisitions. As such, we expect the company's revenue will be in the $4.2 billion-$4.3 billion range for 2023, with S&P Global Ratings-adjusted gross margins of 33%-34% and adjusted EBITDA margins of about 11%-12%. Further, we expect it will generate free cash flow of $250 million-$275 million during this period. We believe the company has a
