Compared to Estimates, Watsco (WSO) Q2 Earnings: A Look at Key Metrics

Financial Performance - For the quarter ended June 2024, Watsco reported revenue of $2.14 billion, reflecting a year-over-year increase of 6.8% [1] - The earnings per share (EPS) for the quarter was $4.49, slightly up from $4.42 in the same quarter last year [1] - The reported revenue was a surprise of -0.16% compared to the Zacks Consensus Estimate of $2.14 billion, while the EPS fell short of the consensus estimate of $4.75 by -5.47% [1] Sales Trends - Sales trends for HVAC equipment accounted for 71% of total sales, exceeding the average estimate of 36.5% based on two analysts [3] - Sales trends for commercial refrigeration products represented 4% of total sales, compared to the average estimate of 3.3% [3] - Other HVAC products made up 25% of total sales, significantly higher than the average estimate of 14% [4] Stock Performance - Watsco's shares have returned -2% over the past month, while the Zacks S&P 500 composite experienced a -0.4% change [4] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [4]