Watsco Reports 2016 Second Quarter Results
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Watsco (WSO) Hikes Annual Dividend 24% to $4.20/Share
July 22, 2016 7:40 AM EDTWatsco (NYSE: WSO) announced that its Board of Directors has approved a 24% increase in its annual dividend to $4.20 per share on each outstanding share of its Common and Class B common stock. The increase will be reflected in the Companys next regular dividend... More
Watsco (WSO) Misses Q2 EPS by 23c; Announces 24% Dividend Hike
July 22, 2016 7:38 AM EDTWatsco (NYSE: WSO) reported Q2 EPS of $1.82, $0.23 worse than the analyst estimate of $2.05. Revenue for the quarter came in at $1.21 billion versus the consensus estimate of $1.29 billion.
Albert H. Nahmad, Watscos Chairman and CEO, stated: Our summer selling season started later than normal this year, and record sales and profits in June were insufficient to offset softer business conditions during the early part of the quarter. July sales trends have accelerated to double-digit growth and we believe profits will follow. Looking long-term, we remain very positive about our basic... More
