Watsco Q2 EPS down 12% to $4.00; revenue up 2% to $2.1B; acquires Jackson Supply

WATSCO INC

Q2 revenue $2.1B (+2% YoY); EPS $4.00 (-12%); operating income $238M (-12%); gross margin 27.5% vs 29.3%.
Acquired Jackson Supply (June 2026), ~$230M annual sales, 25 Sunbelt locations; adds density to key markets.
Annual dividend raised 10% to $13.20/share; 52 consecutive years of dividends; no debt, $464M cash.
E-commerce sales grew 13% in H1 2026 to $2.7B annualized (37% of sales); OnCallAir GMV $1.9B (+15%).
Operating cash flow improved to -$21M from -$185M in prior year H1; expects more conventional supply-chain trends.

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