Watsco first-quarter net income falls as sales remain flat but beat estimates

10 articles · Updated · MarketWatch · Apr 28

Watsco reported Q1 net income of $71 million, or $1.87 per share, down from $72.9 million last year, with sales at $1.53 billion.
Both earnings and sales surpassed analyst expectations, despite a stagnant housing market and seasonally weak air-conditioner demand impacting results.
Watsco announced the acquisition of Jackson Supply, a distributor with 25 locations in the Sunbelt, and expects business conditions to normalize as pressures from refrigerant standard transitions ease.

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