Watsco (WSO) Misses Q2 EPS by 14c

Watsco (NYSE: WSO) reported Q2 EPS of $4.93, $0.14 worse than the analyst estimate of $5.07. Revenue for the quarter came in at $2.13 billion versus the consensus estimate of $2.16 billion.

2023 Outlook, Important Fundamentals & Growth DriversLooking to 2023, due to recent changes in monetary policy to curb inflation and the consequential slowdown in the economy, the Company believes that the North American HVAC/R demand trends and other recent catalysts that have benefited performance will moderate toward more historical levels.

However, the Company believes its unique fundamentals along with upcoming industry changes provide incremental growth opportunities in the years ahead. The essential nature of HVAC/R products, Watsco’s scale, leading technology platforms, financial strength, entrepreneurial culture and OEM relationships are important competitive advantages that support the Company’s ability to grow and capture more profitable share going forward.

For earnings history and earnings-related data on Watsco (WSO) click here.

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