Seeking Alpha

Watsco down 2.5% on earnings miss

|About: Watsco, Inc. (WSO)|By: , SA News Editor

Watsco (NYSE:WSO) reports sales rose 1% on a same-store basis in Q4.

The company saw 3% growth in HVAC equipment and 2% decrease in other HVAC products.

Commercial refrigeration products sales up 4%.

Gross margin rate fell 90 bps to 24.3%.

Operating margin rate fell 100 bps to 4.9%.

The Board of Directors has approved an 11% increase in its annual dividend to $7.10 per share on each outstanding share of its Common and Class B common stock. It will be reflected in the next regular dividend payment beginning in April 2020.

WSO -2.53% premarket.

Previously: Watsco EPS misses by $0.07, misses on revenue (Feb. 13)