Earnings ·
Watsco reports Q3 revenue of $2.22B, EPS of $3.77 as acquisitions boost sales
WSOWatsco Inc
Watsco reported third-quarter revenues of $2.22 billion, a 7% increase from the prior year, driven by record same-store growth and contributions from recent acquisitions. Diluted earnings per share decreased 5% to $3.77, while operating income fell 4% to $225 million due to margin compression. Gross profit reached a record $586 million with a 26.4% margin. The company also highlighted strong cash flow generation and the integration of Jackson Supply Company and The Granite Group, which are expected to add approximately 10% to annual revenue. Watsco operates as the largest distributor in the North American HVAC/R market.