Table of Contents Title of each classTrading Symbol(s)Name of each exchange on which registered Common stock, $0.50 par value WSO New York Stock Exchange Class B common stock, $0.50 par value WSOB New York Stock Exchange Emerging growth company ☐ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly Period Ended June 30, 2024 or ☐ Transition Report Pursuant To Section 13 or ...

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 ...

As of Jun 30, 2024, Watsco's cash and cash equivalents, along with short-term cash investments, totaled $424.9 million, up from $210.1 million at the end of 2023. The company has no borrowings under its unsecured $600 million credit facility, providing substantial access to capital for new growth opportunities. Watsco currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. KBR performed well across key metrics and expects this trend to conti ...

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 ...