Watsco Reports Q3 Revenue Beat Amid GAAP EPS Miss
Watsco (NYSE: WSO) reported third-quarter financial results characterized by a revenue beat but an earnings miss. The company generated $2.22 billion in revenue, representing a 7.2% year-over-year increase and exceeding expectations by $10 million. However, GAAP earnings per share (EPS) came in at $3.77, missing analyst estimates by $0.32. Looking at segment performance, organic sales excluding acquisitions saw a 5% increase. This growth was driven primarily by HVAC equipment, which accounts for 67% of total sales; specifically, residential products rose by 7%, while other segments experienced a 5% decline.
Tickers: $WSO
Topics: earnings miss HVAC sales trends residential products revenue beat