Watsco's (WSO) Q3 Earnings Miss, Revenues Beat Estimates
Zacks Investment Research | Oct 17, 2019 11:42PM ET
Watsco, Inc. (NYSE:WSO) reported mixed results in third-quarter 2019, wherein earnings missed the Zacks Consensus Estimate but sales beat the same. Notably, the company’s shares jumped 5.6% on Oct 18, following the earnings release.
Quarterly earnings of $2.20 per share lagged the consensus estimate of $2.25 by 2.2%. Total sales of $1,395 million surpassed the consensus mark of $1,379 million by 1.2%.
On a year-over-year basis, the top and bottom lines grew 7.6% and 4.3%, respectively, given solid revenue contributions, benefits from the recent acquisitions, along with improved operating efficiencies.
On a same-store basis, sales increased 3% from the prior year.
Watsco is optimistic to post record revenues and earnings in 2019, courtesy of solid acquisition strategy and technology enhancement.
Watsco, Inc. Price, Consensus and EPS Surprise
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