---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-090030"
form_type: "8-K"
ticker: "WSO"
cik: "0000105016"
company_name: "WATSCO INC"
filed_at: "2025-04-23T23:59:59+00:00"
generated_at: "2026-05-23T07:50:58.572128+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Watsco Q1 revenue down 2% to $1.53B, EPS $1.93 vs $2.17; core U.S. replacement sales up 10%

## Summary
- Gross profit flat at $430M; margin improved 60 bps to 28.1%; operating income $112M (7.3% margin).
- A2L refrigerant transition affects ~55% of sales; nearly $1B inventory conversion underway in 2025.
- Dividend raised 11% to $12.00 per share; 51st consecutive year; cash $432M, no debt.
- Operating cash flow use of $178M reflecting A2L inventory build and vendor payment timing.
- Two new acquisitions in 2025; long-term strategy targets fragmented $74B HVAC/R distribution market.

## SEC filing metadata
- accession: 0001193125-25-090030
- form_type: 8-K
- ticker: WSO
- cik: 0000105016
- company_name: WATSCO INC
- filed_at: 2025-04-23T23:59:59+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/105016/000119312525090030/0001193125-25-090030-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/105016/000119312525090030/d66237d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-090030
- JSON: https://secwatch.observer/filing/0001193125-25-090030.json
- Plain text: https://secwatch.observer/filing/0001193125-25-090030.txt

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