---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-108455"
form_type: "8-K"
ticker: "WSO"
cik: "0000105016"
company_name: "WATSCO INC"
filed_at: "2024-04-24T23:59:59+00:00"
generated_at: "2026-06-03T09:16:28.742643+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Watsco reports record Q1 sales of $1.56B, record cash flow, and 10% dividend increase

## Summary
- Revenues increased 1% to a record $1.56 billion, with HVAC equipment down 1% and commercial refrigeration up 2%.
- Record first-quarter operating cash flow of $104 million; cash and investments totaled $479 million with no debt.
- Board approved a 10% increase in annual dividend to $10.80 per share, effective April 2024.
- Earnings per share were $2.17 versus $2.83 in the prior-year quarter; equity raised $282 million via ATM offering.
- Authenticated e-commerce users grew 6% to over 57,000; OnCallAir GMV rose 22% to $269 million.

## SEC filing metadata
- accession: 0001193125-24-108455
- form_type: 8-K
- ticker: WSO
- cik: 0000105016
- company_name: WATSCO INC
- filed_at: 2024-04-24T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/105016/000119312524108455/0001193125-24-108455-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/105016/000119312524108455/d800527d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-108455
- JSON: https://secwatch.observer/filing/0001193125-24-108455.json
- Plain text: https://secwatch.observer/filing/0001193125-24-108455.txt

## Key facts
- Earnings Releases
  WATSCO INC reported the quarter ended March 31, 2024 results: revenue $1.56 billion, EPS $2.17.
  - Period: the quarter ended March 31, 2024
  - Revenue: $1.56 billion
  - EPS: $2.17
  - Result: reported results
  source text: record cash flow during a period that typically requires working capital investment ahead of the selling season.” First Quarter Results • Revenues increased 1% to a record $1.56 billion (a 2% decline on a same-store basis) • Gross profit of $431 million (27.5% gross margin) • SG&A expenses increased 8%, including 18 new locations (a 4% increase on a same-store
  evidence_url: https://www.sec.gov/Archives/edgar/data/105016/000119312524108455/0001193125-24-108455-index.htm

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