Every 10-Q that Watsco, Inc. (WSO) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow WSO and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full WSO filings page.
Watsco, Inc. reported modest sales growth but lower profitability for the quarter ended June 30, 2026. Revenues were $2,104,859 (in thousands), up 2% year over year, while net income attributable to Watsco was $163,336 (in thousands), down 11%, as gross margin compressed from 29.3% to 27.5% and selling, general and administrative expenses rose slightly as a percentage of sales.
For the first half of 2026, revenues were $3,637,869 (in thousands), up 1%, and net income attributable to Watsco was $242,410 (in thousands), down 8%. Diluted EPS for common stock was $4.00 for the quarter and $5.92 year-to-date. The company closed the acquisition of Jackson Supply Company, issuing 517,884 shares of common stock valued at $186,164 (in thousands), adding 25 Sunbelt locations and initial estimated goodwill of $99,612 (in thousands).
Watsco ended the period with $364,189 (in thousands) of cash and cash equivalents, $100,000 (in thousands) in short-term cash investments, no outstanding balance on its $600,000 (in thousands) revolving credit facility, and negative operating cash flow of $21,440 (in thousands) driven by seasonal inventory and receivable build. Cash dividends on common stock totaled $6.30 per share for the first half. The company highlighted ongoing tariff uncertainty, climate-related efficiency trends, significant purchasing concentration with Carrier, and disclosed a contractual dispute with Gree regarding renewal of a distribution agreement, noting that Gree-branded products represented less than 3% of consolidated revenues over the preceding 12 months.
Watsco, Inc. (WSO) reported softer third‑quarter results as seasonal demand and the ongoing A2L refrigerant transition weighed on volumes. Q3 2025 revenue was $2,067,005 and diluted EPS was $3.98, down from $4.22 a year ago. Despite lower sales, gross margin improved to 27.5% from 26.2% on stronger pricing and mix, while SG&A rose 5% with higher people, benefits, technology and facilities costs. Net income attributable to Watsco was $161,575.
Year‑to‑date, revenue was $5,660,533 with diluted EPS of $10.48. Operating cash flow for the nine months was $169,847, reflecting working capital timing and higher inventories tied to seasonality and the A2L product transition. The company ended the quarter with $324,348 in cash and $200,000 in short‑term cash investments, no revolver borrowings, and $400,000 available under its 2024 ATM program. Watsco paid a $3.00 per‑share cash dividend in the quarter and continued modest M&A, including Southern Ice Equipment Distributors and Hawkins earlier in 2025.
Watsco reported second-quarter 2025 revenue of $2,062,442 (down 4% from $2,139,328 a year ago) with gross profit of $603,488, lifting gross margin to 29.3% from 27.1% (a 220 basis-point improvement). Net income attributable to Watsco was $183,613 for the quarter (up 1% year-over-year) and basic EPS was $4.53 (vs. $4.50). For the first six months, revenues were $3,593,528 (down 3%) and six‑month EPS was $6.52 (vs. $6.71).
Inventory rose to $1,952,842 at June 30, 2025 from $1,385,436 at year-end, driven by seasonal build and the company’s transition to lower‑GWP A2L products; cash and cash equivalents fell to $292,978 from $526,271, contributing to net cash used in operating activities of $(185,090) for the six months. The company completed several small acquisitions (including Southern Ice Equipment for ~$14.3M cash plus stock, Hawkins for ~$2.5M cash, and Lashley) and notes ongoing evaluation of the July 4, 2025 tax law changes with no material impact expected so far.