Welcome to our dedicated page for Watsco news (Ticker: WSO), a resource for investors and traders seeking the latest updates and insights on Watsco stock.
Watsco Inc. (NYSE: WSO) maintains North America's largest HVAC/R distribution network, serving contractors across residential and commercial markets. This news hub provides investors and industry professionals with direct access to official corporate announcements and market developments.
Track critical updates including quarterly earnings disclosures, strategic partnerships, and product line expansions. Our curated feed ensures timely access to operational milestones, leadership changes, and regulatory compliance information relevant to the HVAC distribution sector.
Key focus areas include supply chain innovations, sustainability initiatives, and technology adoption within Watsco's contractor network. Bookmark this page for efficient monitoring of inventory management advancements and market share developments across the company's 675+ locations.
Watsco, Inc. (WSO) reported its Q1 2023 results demonstrating a 2% increase in sales to a record $1.55 billion, despite a slight decline in gross profit, which was $448 million at a 28.9% margin. Operating income decreased by 4% to $165 million. The company's EPS fell to $2.83 compared to $2.90 in Q1 2022. Watsco highlighted ongoing investments in technology improving contractor engagement and expanding its market share. The firm remains confident in its ability to navigate regulatory challenges and seasonal sales fluctuations, boosting heat pump sales by 7% and maintaining strong cash flow with a $54 million increase. The company’s financial health is reflected in its net borrowings of $57 million and a 53% increase in its annual dividend rate. Future growth is anticipated from industry trends toward energy efficiency and technological advancements.
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