Watsco (NYSE: WSO) reported Q2 EPS of $2.07, $0.03 better than the analyst estimate of $2.04. Revenue for the quarter came in at $1.28 billion versus the consensus estimate of $1.29 billion.

Second Quarter Results

Key performance metrics:

• 14% increase in earnings per share to a record $2.07
• 10% increase in operating income to a record $129 million
• 40 basis-point expansion in operating margins to 10.1%
• 30 basis-point improvement in gross profit margin
• 10 basis-point reduction in SG&A as a percentage of sales

Sales trends:

• 5% sales growth to a record $1.28 billion
• 7% increase in HVAC equipment (67% of sales), including 8% growth in the U.S.
• 2% increase in other HVAC products (28% of sales)
• 3% growth in commercial refrigeration products (5% of sales)

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