Watsco posts record Q3 sales $2.13B, EPS $4.35; operating margin record 12.1%

WATSCO INC

2023-Q3 EPS reported $11.60 revenue$5,680,570,000

Q3 revenue $2.13B (+4% YoY); operating income $257M (+9%); EPS $4.35 (+8%); all-time records.
Nine-month sales $5.68B (flat YoY); EPS $11.60 vs $11.86; operating margin 12.1%.
Acquired Gateway Supply Company ($180M annual sales, 15 locations in SC/NC) to expand plumbing/HVAC network.
SG&A as % of sales down 80 bps to improve operating efficiency; technology users up 19% to 54,000.
Dividend increased to $9.80 annualized since Jan 2021; balance sheet: $175M cash, $106M debt, $2.7B equity.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

WATSCO INC reported financial results for quarter and nine months ended September 30, 2023.

Period: quarter and nine months ended September 30, 2023
Result: reported results

Exact text from the filing

On October 19, 2023, Watsco, Inc., a Florida corporation (the “Company”), issued a press release reporting its financial results for the quarter and nine months ended September 30, 2023.

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Source: SEC EDGAR

accession 0001193125-23-258924

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