NYSE$WSO
Watsco Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Watsco achieved record sales and net income, enhanced operating efficiency, and generated strong cash flow.
Watsco reported a 2% increase in sales, reaching a record $2.16 billion for the third quarter of 2024. The company's net income remained flat at $171 million, and earnings per share declined by 3% to $4.22. The company sees potential for further improving productivity and is gratified that its focus on the balance sheet has produced record cash flow.
- Sales increased 2% to a record $2.16 billion (flat on a same-store basis).
- Operating income decreased 2% to $250 million (11.6% operating margin).
- Net income attributable to Watsco was $171 million, flat versus last year.
- Earnings per share declined 3% to $4.22.
Headline financials
Revenue & EPS history
Watsco · Revenue · Quarterly
$2.16B
Forward guidance
Watsco believes the market environment for HVAC products stabilized this year, and they look forward to helping their customers navigate next year’s regulatory transition toward the new A2L systems.
Tailwinds
- Market environment for HVAC products stabilized this year.
- Helping customers navigate next year’s regulatory transition toward the new A2L systems.
- Regulatory change will ultimately impact approximately 60% of sales.
- Offers contractor customers the opportunity to upgrade older HVAC systems with new products.
- New products are both more energy-efficient and environmentally-friendly.
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 Q3 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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