Watsco reports Q4 EPS $2.37, consensus $2.19

Reports Q4 revenue $1.75B, consensus $1.67B. Albert H. Nahmad, Watsco’s (WSO) Chairman and CEO, commented: “Watsco had a terrific fourth quarter, achieving record sales and earnings, improved operating efficiency, expanded margins and record cash flow. Looking ahead, the transition to A2L products is well underway, providing incremental opportunities for growth and share gains as our technology platforms gain more adoption in the marketplace. Our teams continue to lead and innovate, and I am optimistic that our industry-leading scale, entrepreneurial culture, technology advantage and financial strength position us to continue to capture growth and share. We are pleased to raise our dividend, marking the 51st consecutive year that Watsco has paid dividends. With $782 million in cash and short-term investments along with a debt-free balance sheet, Watsco remains well-positioned to invest in most any-sized growth opportunity to advance its leadership position within the fragmented $74 billion HVAC/R distribution marketplace.”