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)
Now read: BorgWarner +1% after earnings topper »