Company Participants Conference Call Participants Operator Good morning, everyone. Welcome to our second quarter earnings call. This is Al Nahmad, Chairman and CEO and with me is A.J. Nahmad, President; Paul Johnston, Barry Logan and Rick Gomez. In this call, I have asked these executives to join in anytime they wish with their thoughts so that all of you can get the views from multiple people in the company. Watsco delivered another strong quarter. We achieved record sales, reflecting strengths in both res ...

Watsco (WSO) came out with quarterly earnings of $4.49 per share, missing the Zacks Consensus Estimate of $4.75 per share. This compares to earnings of $4.42 per share a year ago. These figures are adjusted for nonrecurring items. Watsco, which belongs to the Zacks Building Products - Air Conditioner and Heating industry, posted revenues of $2.14 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.16%. This compares to year-ago revenues of $2 billion. The company has topped co ...

Continued Customer Adoption of Industry-Leading Technologies Helps Drive Share Gains; Debt-Free Balance Sheet Supports Long-Term Investment and Growth A cornerstone of Watsco's growth strategy is the acquisition of long-standing, family-owned businesses. Watsco has completed 69 acquisitions, achieving industry-leading scale and preserving many wonderful business legacies into future generations. Over the last five years, Watsco has acquired eight businesses that today generate approximately $1 billion in an ...

Continued Customer Adoption of Industry-Leading Technologies Helps Drive Share Gains; Debt-Free Balance Sheet Supports Long-Term Investment and Growth MIAMI, July 30, 2024 (GLOBE NEWSWIRE) -- Watsco, Inc. (NYSE: WSO) announced its operating results for the second quarter and six-month period ended June 30, 2024. Commentary was also provided on business trends, growth opportunities, technology innovation and its financial position. Watsco is the largest distributor in the highly fragmented $64 billion North ...

Continued Customer Adoption of Industry-Leading Technologies Helps Drive Share Gains; Debt-Free Balance Sheet Supports Long-Term Investment and Growth Since entering distribution in 1989, Watsco's operating profits have grown at a compounded annual growth rate (CAGR) of 18% and dividends have grown at a 21% CAGR. These long-term growth rates are indicative of strong and consistent performance across most macroeconomic and industry cycles. Second Quarter Results 8% increase in HVAC equipment (71% of sales) 1 ...

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise. Estimate Revisions Trend The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 30. On the other hand, if they miss, the stock may move lower. This heating and cooling company is e ...

MIAMI, July 22, 2024 (GLOBE NEWSWIRE) -- Watsco, Inc. (NYSE:WSO) announced today that it will host a conference call to discuss its 2024 second quarter results on Tuesday, July 30, 2024 at 10:00 a.m. (EDT). Prepared remarks regarding the results will be followed by a question-and-answer session with the senior management team. The conference call will be web-cast by CCBN's StreetEvents and can be found under the link on our website at www.watsco.com. The earnings results will be released before the market o ...

MIAMI, July 22, 2024 (GLOBE NEWSWIRE) -- Watsco, Inc. (NYSE: WSO) announced today that it will host a conference call to discuss its 2024 second quarter results on Tuesday, July 30, 2024 at 10:00 a.m. (EDT). Prepared remarks regarding the results will be followed by a question-and-answer session with the senior management team. To pre-register, go to: https://dpregister.com/sreg/10190794/fd0b60a026 We focus on the replacement market, which has increased in size and importance as a result of the aging of ins ...

MIAMI, July 01, 2024 (GLOBE NEWSWIRE) -- Watsco, Inc.'s (NYSE: WSO) Board of Directors has declared a regular quarterly cash dividend of $2.70 on each outstanding share of its Common and Class B common stock payable on July 31, 2024 to shareholders of record at the close of business on July 16, 2024. Watsco has paid dividends to shareholders for 50 consecutive years. The Company's philosophy is to share cash flow through dividends while maintaining a conservative balance sheet with continued capacity to bui ...

We focus on the replacement market, which has increased in size and importance as a result of the aging of installed systems, the introduction of higher energy efficient models and the necessity of HVAC products in homes and businesses. According to data published in March 2023 by the Energy Information Administration, there are approximately 102 million HVAC systems installed in the United States that have been in service for more than 10 years, most of which operate well below current minimum efficiency s ...