---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-107391"
form_type: "8-K"
ticker: "WSO"
cik: "0000105016"
company_name: "WATSCO INC"
filed_at: "2023-04-20T23:59:59+00:00"
generated_at: "2026-06-16T22:07:35.441820+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Watsco Q1 2023: record sales $1.55B, EPS $2.83 vs $2.90 prior year

## Summary
- Revenue $1.55B (+2% YoY); gross margin 28.9% vs 29.6% last year.
- Operating income $165M (-4%); EPS $2.83 vs $2.90; operating cash flow improved $54M to -$47M.
- HVAC equipment sales +2% (68% of sales); commercial refrigeration +12%; heat pumps +7%.
- Annual dividend raised 11% to $9.80/share effective January 2023.
- E-commerce 33% of sales; OnCallAir GMV $220M (+33%); authenticated tech users up 19%.

## SEC filing metadata
- accession: 0001193125-23-107391
- form_type: 8-K
- ticker: WSO
- cik: 0000105016
- company_name: WATSCO INC
- filed_at: 2023-04-20T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/105016/000119312523107391/0001193125-23-107391-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/105016/000119312523107391/d458933d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-107391
- JSON: https://secwatch.observer/filing/0001193125-23-107391.json
- Plain text: https://secwatch.observer/filing/0001193125-23-107391.txt

## Key facts
- Earnings Releases
  WATSCO INC reported the quarter ended March 31, 2023 results: revenue $1.55 billion, EPS $2.83.
  - Period: the quarter ended March 31, 2023
  - Revenue: $1.55 billion
  - EPS: $2.83
  - Result: reported results
  source text: First Quarter Results • 2% increase in sales to a record $1.55 billion • Gross profit of $448 million (28.9% gross margin) versus $450 million (29.6% gross margin) last year • 1% increase in SG&A expenses (10 basis-point improvement in SG&A as a percentage of sales) • 4% decrease in operating income to $165 million (operating margin of 10.6% versus 11.2% last year) • EPS of $2.83 versus $2.90 in 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/105016/000119312523107391/0001193125-23-107391-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.