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AI brief of an SEC Form 8-K · Watsco (WSO)

Watsco Q2 sales fall 6% to $2.0 billion; EPS down 10% to $4.42

Negative Impact 3 of 5 earnings Written later

Watsco reported second-quarter 2023 results on August 1, 2023, with sales down 6% to $2.0 billion and diluted EPS down 10% to $4.42 from $4.93. The company attributed part of the decline to a product transition under new efficiency regulations and to OEM production and availability delays, which it estimated reduced quarterly sales by $75 to $80 million. For the six months, sales fell 3% to $3.55 billion and EPS fell 7% to $7.25.

Key points

  • Second-quarter sales of $2.0 billion, down 6%; operating income of $266 million, down 7%
  • Second-quarter diluted EPS of $4.42, versus $4.93 a year earlier
  • Company estimated OEM-related delays reduced quarterly sales by $75 to $80 million ($115 to $125 million for six months)
  • Operating cash flow was a $89 million use of cash for the six months ended June 30, 2023; annual dividend rate is $9.80 per share

The filing

CompanyWatsco (WSO)
Form8-K, current report
Filed with the SECAug 1, 2023, 7:30 AM ET
Accession number0001193125-23-199929

Items reported: 2.02 Results of Operations7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:12 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 01, 2023.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.