Watsco Q1 EPS $2.17 Misses $2.28 Estimate, Sales $1.56B Miss $1.59B Estimate
Portfolio Pulse from Benzinga Newsdesk
Watsco (NYSE:WSO) reported Q1 earnings of $2.17 per share, missing the $2.28 estimate, and sales of $1.56B, missing the $1.59B estimate. This represents a 23.32% decrease in earnings and a 0.84% increase in sales from the same period last year.
April 24, 2024 | 11:32 am
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NEGATIVE IMPACT
Watsco reported lower-than-expected Q1 earnings and sales, with a significant decrease in earnings per share compared to last year.
Missing both earnings and sales estimates can negatively impact investor sentiment and stock price in the short term. The significant year-over-year decrease in earnings per share further emphasizes the company's underperformance, likely leading to a negative reaction in the stock market.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100