Watsco IncWSO
▼ NegativeCapitalrelevance
Q2 earnings missed analyst expectations, with lower EPS and sales, declining gross profit, and rising costs.
Impact on stocks 1
Climate Adaptation & Water
Watsco IncWatsco stock tumbled 15.3% through 10:45 a.m. ET Wednesday after the HVAC distributor reported second-quarter earnings that fell short of analyst expectations. Analysts had forecast earnings of $4.41 per share on more than $2.1 billion in sales, but Watsco earned $4 per share and its sales came in just below estimates. Revenue grew only 2% year over year, while gross profit declined and operating costs rose, leading to a 12% drop in earnings. The company recently acquired Jackson Supply and continues to seek additional acquisitions to spur growth in the fragmented North American HVAC market.
Watsco IncQ2 earnings missed analyst expectations, with lower EPS and sales, declining gross profit, and rising costs.