Watsco Inc Class A
WSO: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$476.00 | Wmtsf | Ttksjbqffs |
Watsco Earnings: Gross Margin Slips but Sales Rebound and SG&A Containment Drive Q3 Earnings Growth
According to the Air-Conditioning, Heating, and Refrigeration Institute, year-to-date (through August) shipments of air conditioners, heat pumps, and furnaces were 16% lower than last year. Nevertheless, we think Watsco is on pace for flattish year-over-year revenue growth this year due to favorable price and product mix, and to a much lesser extent, revenue contribution from the September acquisition of Gateway Supply Company, with $180 million of annual sales.