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

Watsco Q1 revenue rises 1% to record $1.56 billion; EPS falls to $2.17

Mixed Impact 3 of 5 earnings Written later

Watsco reported first-quarter 2024 results for the period ended March 31, 2024. Revenue rose 1% to a record $1.56 billion, but same-store revenue fell 2%, operating income dropped to $127 million from $165 million, and diluted earnings per share were $2.17 versus $2.83 a year earlier. The company also reported no debt, $479 million in cash and investments, and a 10% dividend increase to $10.80 per share annually.

Key points

  • Revenue rose 1% to $1.56 billion; same-store revenue declined 2%.
  • Operating income was $127 million (8.1% margin) versus $165 million (10.6% margin) a year earlier.
  • Diluted EPS was $2.17 versus $2.83; operating cash flow was a record $104 million for a first quarter.
  • Annual dividend rate increased 10% to $10.80 per share, effective April 2024.

The filing

CompanyWatsco (WSO)
Form8-K, current report
Filed with the SECApr 24, 2024, 7:31 AM ET
Accession number0001193125-24-108455

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 April 24, 2024.

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.