Watsco Earnings: Here’s Why Shares are Up Now
Watsco Inc. (NYSE:WSO) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.4%.
Watsco Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 28.7% to $1.48 in the quarter versus EPS of $1.15 in the year-earlier quarter.
Revenue: Rose 10.74% to $1.12 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Watsco Inc. reported adjusted EPS income of $1.48 per share. By that measure, the company beat the mean analyst estimate of $1.40. It beat the average revenue estimate of $1.1 billion.
Quoting Management: Albert Nahmad, Watsco’s President & CEO stated: “Our second quarter performance produced the highest sales and the greatest profits of any quarter in Watsco’s history. We delivered strong earnings growth and margin expansion from a combination of solid sales growth, better selling margins and operating efficiencies. We remain focused on our fundamentals – gaining share for our supplier partners, improving operating efficiency and having the products and people in place to best serve our customers.”
Key Stats (on next page)…