Watsco Q2 record revenue $2.1B, EPS $4.49; cash flow improves $100M; dividend raised 10%

WATSCO INC

2024-Q2 EPS reported $6.69 revenue$3,704,319,000

Record Q2 revenue $2.1B (+7% YoY); EPS $4.49 vs $4.42; operating margin 12.6%.
Operating cash flow improved by $100M to $58M (from -$42M use in 2023).
E-commerce sales grew 13%, accounting for 36% of total sales; 60K authenticated mobile users.
Dividend rate increased 10% to $10.80 per share, marking 50 consecutive years of payments.
Balance sheet: $425M cash and short-term investments; no borrowings on $600M credit facility.

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