NYSE$WSO
Watsco Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Watsco's Q2 2024 results reflected record sales, enhanced operating efficiency and strong cash flow, driven by continued customer adoption of industry-leading technologies.
Watsco reported a record $2.1 billion in revenue for Q2 2024, a 7% increase year-over-year, with EPS of $4.49 compared to $4.42 last year. The company's strong cash flow and debt-free balance sheet supported long-term investment and growth.
- Revenue increased by 7% to a record $2.1 billion, with a 4% increase on a same-store basis.
- Earnings per share (EPS) increased to $4.49 compared to $4.42 in the previous year.
- Operating cash flow improved by $100 million compared to the last year.
- E-commerce sales grew 13% and accounted for 36% of total sales.
Headline financials
Revenue & EPS history
Watsco · Revenue · Quarterly
$2.14B
Forward guidance
Watsco is well-positioned to invest in future growth opportunities, expand its business, and partner with other family businesses, driven by its strong balance sheet, solid cash flow, technology, and entrepreneurial culture.
Tailwinds
- Investing in market share opportunities as regulatory change and product transitions unfold.
- Partnering with other great family businesses in the industry.
- Scale and technology give confidence in the growth outlook.
- Technology investments are expected to drive future growth.
- Company's unique technology investments are expected to drive future growth
Headwinds
- Effects of supplier concentration
- Competitive conditions within Watsco’s industry
- Seasonal nature of sales of Watsco’s products
- Ability of the Company to expand its business
- Insurance coverage risks
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+0.2%
Avg return
Earnings day
-0.4%
Avg return
5 days after
+0.8%
Avg return
30 days after
57%
39 / 68 earnings
Positive
+15.3%
Q2 2020
Best reaction
-11.3%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.8% | -6.2% | -20.2% | |
| Q4 2025 | +1.0% | -1.9% | -8.3% | |
| Q3 2025 | +2.9% | +0.8% | -3.3% | |
| Q1 2025 | -11.3% | -9.4% | -9.5% | |
| Q4 2024 | +9.7% | +3.1% | +3.9% | |
| Q3 2024 | -1.3% | -1.0% | +14.4% | |
| Q2 2024 | -2.8% | -7.2% | -7.3% | |
| Q1 2024 | +7.4% | +8.3% | +18.4% | |
| Q4 2023 | -5.5% | -7.1% | -3.2% | |
| Q3 2023 | -5.6% | -5.7% | +5.9% | |
| Q2 2023 | -4.9% | -4.9% | -3.6% | |
| Q1 2023 | +6.9% | +9.3% | +6.3% | |
| Q4 2022 | +5.3% | -0.4% | -3.8% | |
| Q3 2022 | +0.8% | +5.6% | +11.7% | |
| Q2 2022 | +0.7% | +8.3% | +15.3% | |
| Q1 2022 | +1.5% | -0.7% | -13.9% | |
| Q4 2021 | -4.8% | -4.9% | +3.0% | |
| Q3 2021 | +4.0% | +2.5% | +5.6% | |
| Q2 2021 | +4.8% | -0.2% | -2.4% | |
| Q1 2021 | +2.6% | +3.5% | -0.3% | |
| Q4 2020 | -1.4% | -3.0% | -1.4% | |
| Q3 2020 | +3.4% | -0.2% | +2.0% | |
| Q2 2020 | +15.3% | +14.8% | +21.9% | |
| Q1 2020 | +7.6% | +10.4% | +11.1% | |
| Q4 2019 | -1.3% | -2.3% | -6.8% | |
| Q3 2019 | +4.7% | +6.9% | +8.5% | |
| Q2 2019 | -2.7% | +0.6% | -0.1% | |
| Q1 2019 | +6.0% | +5.5% | +3.9% | |
| Q4 2018 | -6.3% | -5.5% | -8.6% | |
| Q3 2018 | -5.2% | -8.3% | -3.1% | |
| Q2 2018 | -9.0% | -7.4% | -4.1% | |
| Q1 2018 | -10.0% | -9.3% | -2.4% | |
| Q4 2017 | -3.8% | -3.8% | +2.8% | |
| Q3 2017 | +1.7% | +1.3% | +0.8% | |
| Q2 2017 | -0.4% | +0.8% | -3.8% | |
| Q1 2017 | +0.4% | -0.5% | +1.4% | |
| Q4 2016 | -5.1% | -2.5% | -5.1% | |
| Q3 2016 | -5.0% | -4.1% | +3.5% | |
| Q2 2016 | +0.3% | +0.8% | +2.7% | |
| Q1 2016 | +1.1% | — | — | |
| Q4 2015 | +12.0% | — | — | |
| Q3 2015 | -8.6% | — | — | |
| Q2 2015 | -1.4% | — | — | |
| Q1 2015 | -2.9% | — | — | |
| Q4 2014 | +6.5% | — | — | |
| Q3 2014 | +5.7% | — | — | |
| Q2 2014 | -5.4% | — | — | |
| Q1 2014 | +5.1% | — | — | |
| Q4 2013 | +0.2% | — | — | |
| Q3 2013 | -1.0% | — | — | |
| Q2 2013 | +1.6% | — | — | |
| Q1 2013 | +2.6% | — | — | |
| Q4 2012 | +4.0% | — | — | |
| Q3 2012 | -0.7% | — | — | |
| Q2 2012 | -10.7% | — | — | |
| Q1 2012 | +0.4% | — | — | |
| Q2 2011 | +0.0% | — | — | |
| Q4 2011 | +0.0% | — | — | |
| Q3 2011 | -2.1% | — | — | |
| Q1 2011 | -1.0% | — | — | |
| Q1 2010 | -1.0% | — | — | |
| Q2 2010 | +1.8% | — | — | |
| Q4 2010 | +1.8% | — | — | |
| Q3 2010 | +0.4% | — | — | |
| Q3 2009 | +0.4% | — | — | |
| Q4 2008 | +2.3% | — | — | |
| Q2 2009 | +2.3% | — | — | |
| Q4 2009 | +2.3% | — | — |
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