Oct 27, 5:06 PM ET
Watsco entered an unsecured five-year, $750.0 million syndicated multicurrency credit agreement on October 21, 2026, replacing its $600.0 million revolving credit facility from March 2023. The company borrowed $69.7 million at closing to repay the prior facility, and the new facility matures on October 21, 2031. The filing describes the new terms, including pricing, sublimits and financial covenants, but does not state how the company plans to use the added capacity.
- New $750.0 million unsecured credit facility dated October 21, 2026, replaces the $600.0 million facility entered into March 16, 2023
- $69.7 million borrowed at closing; proceeds used to repay the prior facility, with $69.7 million outstanding as of the closing date
- Interest at Term SOFR or Daily Simple SOFR plus 100.0 to 137.5 basis points (100.0 basis points at closing); unused commitment fee 10.0 to 17.5 basis points
- Facility matures October 21, 2031; a $150,000 letter of credit from the prior facility remains outstanding and reduces availability
Read the filing on SEC.gov ↗
Oct 27, 7:30 AM ET
Watsco reported record third-quarter revenue of $2.22 billion, up 7%, helped by acquisitions, but diluted earnings per share fell 5% to $3.77 as gross margin and operating income declined. For the nine months, revenue rose 3% while earnings per share fell 7% to $9.72, and the company said residential unit volumes returned to growth.
- Q3 operating income fell 4% to $225 million; operating margin was 10.1% versus 11.4% a year earlier
- Q3 gross profit margin was 26.4% versus 27.5% last year; same-store sales rose 4%
- Nine-month operating cash flow rose 79% to $304 million
- Acquisitions of Jackson Supply (June 2026) and The Granite Group (October 2026) add 107 locations and $730 million in annualized revenue
Read the filing on SEC.gov ↗
Jul 29, 7:30 AM ET
Watsco reported second-quarter 2026 revenue up 2% to $2.1 billion, with growth of 1% on a same-store basis. Profit fell, with operating income down 12% to $238 million and diluted earnings per share down 12% to $4.00, as gross margin narrowed to 27.5% from 29.3% a year earlier. The company also closed its Jackson Supply acquisition in June 2026, which it says has annualized sales of about $230 million.
- Q2 revenue rose 2% to $2.1 billion; gross profit fell 4% to $579 million
- Q2 diluted EPS fell 12% to $4.00, versus $4.52 a year earlier
- Year-to-date operating cash flow was a use of $21 million, a $164 million improvement from a $185 million use in 2025
- Jackson Supply, with about $230 million in annualized sales across 25 Sunbelt locations, was acquired in June 2026
Read the filing on SEC.gov ↗
Apr 28, 7:30 AM ET
Watsco reported first-quarter 2026 revenue flat at $1.53 billion, with operating income down 2% to $110 million and diluted EPS down 3% to $1.87. The company also agreed to acquire Jackson Supply Company, a Sunbelt HVAC distributor with $230 million in annual sales, with closing expected in the second quarter of 2026.
- Revenues were flat at $1.53 billion; gross profit was flat at $428 million, with gross margin at 27.9% versus 28.1% a year earlier
- Diluted EPS was $1.87 versus $1.93 in the first quarter of 2025; operating income was $110 million versus $112 million
- Jackson Supply Company has annual sales of $230 million and is expected to close in the second quarter of 2026, pending customary closing conditions
- Cash used in operations was $19 million versus $178 million a year earlier; the annual dividend was raised 10% to $13.20 per share in April 2026
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.