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Watsco, Inc. WSO reported worse-than-expected second-quarter monetary outcomes on Tuesday.
The corporate reported quarterly earnings per share of $4.49, lacking the road view of $4.67. Gross sales of $2.14 billion missed the analyst consensus of $2.19 billion. Income elevated 7% yr over yr (4% enhance on a same-store foundation). Gross revenue elevated 3% to $580 million, with 27.1% gross margin.
“We now sit up for the subsequent essential regulatory transition and the introduction of recent merchandise by our OEM companions later this yr,” stated Albert H. Nahmad, Watsco’s Chairman and CEO.
Watsco shares gained 1.4% to commerce at $487.65 on Wednesday.
These analysts made modifications to their worth targets on Watsco following earnings announcement.
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