For the quarter ended June 2024, Watsco (WSO) reported revenue of $2.14 billion, up 6.8% over the same period last year. EPS came in at $4.49, compared to $4.42 in the year-ago quarter. The reported revenue represents a surprise of -0.16% over the Zacks Consensus Estimate of $2.14 billion. With the consensus EPS estimate being $4.75, the EPS surprise was -5.47%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectation ...

Watsco, Inc. WSO reported worse-than-expected second-quarter financial results on Tuesday. The company reported quarterly earnings per share of $4.49, missing the street view of $4.67. Sales of $2.14 billion missed the analyst consensus of $2.19 billion. Revenue increased 7% year over year (4% increase on a same-store basis). Gross profit increased 3% to $580 million, with 27.1% gross margin. "We now look ahead to the next important regulatory transition and the introduction of new products by our OEM partn ...

Growth, but short of expectations Is Watsco a buy? The company's quarter came in below what Wall Street had expected. Watsco is a distributor of parts and supplies for the heating, air conditioning, and refrigeration (HVAC) industry. The company earned $4.49 per share in the quarter on revenue of $2.14 billion, generating 7% year-over-year sales growth. The company saw strong 8% growth in its HVAC equipment segment, which accounts for 71% of total sales. Operating cash flow also turned positive and improved ...

Watsco, Inc. (NYSE:WSO) Q2 2024 Earnings Conference Call July 30, 2024 10:00 AM ET Company Participants Al Nahmad - Chairman and CEO Paul Johnston – EVP Barry Logan – EVP A.J. Nahmad – President Rick Gomez - VP Conference Call Participants Jeffrey Hammond - KeyBanc Capital Markets Inc. Tommy Moll - Stephens Inc. Ryan Merkel - William Blair Brett Linzey - Mizuho Patrick Baumann – J.P. Morgan David Manthey – Baird Nigel Coe - Wolfe Research Operator Good day, and welcome to the Watsco Second Quarter 2024 Earn ...

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 ...