Watsco Shares Dip 5% After Q2 EPS And Sales Fall Short Of Expectations
Portfolio Pulse from Nabaparna Bhattacharya
Watsco, Inc. (NYSE:WSO) shares fell 5% after the company reported Q2 earnings per share of $4.49, missing expectations of $4.67. Sales of $2.14 billion also fell short of the $2.19 billion consensus. Despite a 7% year-over-year revenue increase, the market reacted negatively to the earnings miss.
July 30, 2024 | 5:22 pm
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Watsco, Inc. reported Q2 earnings per share of $4.49, missing the expected $4.67. Sales of $2.14 billion also fell short of the $2.19 billion consensus. Despite a 7% year-over-year revenue increase, the market reacted negatively, causing shares to drop 5%.
The earnings and sales miss, despite year-over-year growth, led to a negative market reaction, causing a 5% drop in Watsco's share price. Investors are likely concerned about the company's ability to meet future expectations.
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