Watsco Analysts Increase Their Forecasts Following Q2 Results

Financial Performance - Watsco, Inc. reported second-quarter earnings per share of $4.49, missing the expected $4.67 [1] - Sales totaled $2.14 billion, falling short of the analyst consensus of $2.19 billion [1] - Revenue increased by 7% year over year, with a 4% increase on a same-store basis [1] - Gross profit rose by 3% to $580 million, achieving a gross margin of 27.1% [1] Market Reaction - Following the earnings announcement, Watsco shares gained 1.4%, trading at $487.65 [2] - Analysts adjusted their price targets for Watsco after the earnings report [2] Analyst Ratings - Baird analyst David Manthey maintained an Outperform rating on Watsco, raising the price target from $460 to $522 [3] - JP Morgan analyst Stephen Tusa maintained a Neutral rating, increasing the price target from $420 to $425 [3]