Watsco (WSO) Reports In-Line Q1 EPS, Revenues Miss
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Watsco Reports Record Sales, Operating Profit, Net Income and Cash Flow During First Quarter
April 23, 2019 7:30 AM EDTMIAMI, April 23, 2019 (GLOBE NEWSWIRE) -- Watsco, Inc. (NYSE: WSO) reported record sales, operating profit, net income and cash flow for the quarter ended March 31, 2019.
Key performance metrics:
2% increase in operating profit to a record $55 million (10 basis-point expansion in operating margin to 5.9%)4% increase in same-store operating profit (30 basis-point expansion in same-store margins to a record 6.1%)1% increase in gross profit to a record $234 million (20 basis-points improvement in gross margin)1% increase in selling, general & administrative expenses (SG&A)Flat SG&A on a... More