Watsco Q1 EPS jumps 109% to $2.90; record sales $1.52B and dividend raised 13%

WATSCO INC

2022-Q1 EPS reported $2.90 revenue$1,523,570,000

EPS $2.90 (up 109%), revenue $1.52B (+34%), both records; operating income $171M (11.2% margin, +400 bps).
Same-store sales +25%, HVAC equipment +26%; gross margin +370 bps to record $450M.
Annual dividend raised 13% to $8.80, payable April 29, 2022.
Technology spending increased $10M to $46M; e-commerce sales surpassed $2B trailing twelve months.
Unit sales up 8%, average selling prices up 18% reflecting inflation pass-through.

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