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Inferra AI / Company / WSO

Watsco Inc.

WSO · Industrials

Last earnings Oct 27, 2026

Key results

Revenuequarter

4%

Watsco third quarter revenues declined 4% (3% domestically) as the decline in units was substantially offset by double-digit pricing for A2L products, 2% sales growth of non-equipment products and 4% sales growth in commercial refrigeration products.

SEC original ↗Watsco Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Over the twelve-month period ended September 30, 2025, which encompasses the transition period, Watsco’s operating profit remained flat and operating margins improved 10 basis-points on a 1% decrease in sales and a 130 basis-point improvement in gross margin.

SEC original ↗Watsco Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Revenues decreased 4% to $2.07 billion &#x2022

SEC original ↗Watsco Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Operating incomequarter

6%

Operating income decreased 6% to $235 million (

SEC original ↗Watsco Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Operating marginquarter

11.4%

operating margin of 11.4% versus 11.6% last year) &#x2022

SEC original ↗Watsco Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Revenues decreased 3% to $5.66 billion &#x2022

SEC original ↗Watsco Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

AI analysis

Q3 2025 · reported Oct 29, 2025

Based on: Earnings release + parent 8-K — transcript not held

Operating margin · Q3 2025
11.4%
EX-99 · Oct 29, 2025

Headline figures

MetricQ3 2025Prior qtrYear ago
Revenue4%——
Operating income6%——
Operating margin11.4%——

EX-99 · Oct 29, 2025

Guidance · company-stated

No guidance located in the held release

Next earningsNo verified date on fileNo date is estimated or imported

Margin

Operating margin11.4%

Capital allocation

The Company maintains a solid financial position with currently more than $640 million in cash and investments and no debt, enabling sustained investments in growth, particularly the Company’s industry-leading technology platforms.

Actual results may differ materially from these expectations due to changes in economic, business, competitive market, new housing starts and completions, capital spending in commercial construction, consumer spending and debt levels, regulatory and other factors, including, without limitation, the effects of supplier concentration, competitive conditions within Watsco’s industry, the seasonal nature of sales of Watsco’s products, the ability of the Company to expand its business, insurance coverage risks and final GAAP adjustments.

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

(NYSE: WSO) announced its operating results for the third quarter and nine-month period ended September 30, 2025

Based on: Earnings release + parent 8-K — transcript not held

Guidance & outlook

No guidance located in the held release

Capital allocation

The Company maintains a solid financial position with currently more than $640 million in cash and investments and no debt, enabling sustained investments in growth, particularly the Company’s industry-leading technology platforms.

SEC original ↗Watsco Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Actual results may differ materially from these expectations due to changes in economic, business, competitive market, new housing starts and completions, capital spending in commercial construction, consumer spending and debt levels, regulatory and other factors, including, without limitation, the effects of supplier concentration, competitive conditions within Watsco’s industry, the seasonal nature of sales of Watsco’s products, the ability of the Company to expand its business, insurance coverage risks and final GAAP adjustments.

SEC original ↗Watsco Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Strategy & priorities

The Company is now advancing AI-driven initiatives to further enhance the customer experience and improve efficiencies.

SEC original ↗Watsco Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Although short-term market conditions remain fluid, we operate a resilient business in a resilient industry and our focus on the long-term has been, and will be, far more 1 consequential as we build our network, scale our technologies to delight customers and partner with our OEMs to grow and gain share.

SEC original ↗Watsco Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

markets • 5% decrease in HVAC equipment (67% of sales) • Flat sales for other HVAC products (29% of sales) • 2% decrease in commercial refrigeration products (4% of sales) Innovation and Strategic Technology Initiatives Watsco pioneered the HVAC/R industry’s most comprehensive digital ecosystem, which continues to reshape the industry landscape.

SEC original ↗Watsco Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Examples include the application of sophisticated pricing rules and strategies for specific products, across various geographic markets and for a variety of customer segments.

SEC original ↗Watsco Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

• Initiatives to grow sales of non-equipment and enhance gross margins were also launched in 2025 .

SEC original ↗Watsco Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Risks & headwinds

The Company believes this relative performance in the context of the transition and other macroeconomic headwinds speaks well of its business model and overall execution.

SEC original ↗Watsco Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Nahmad, Watsco's President, added: “As we work to further scale our core technology platforms among our customers, we constantly challenge ourselves to continue innovating and find new ways to delight our customers.

SEC original ↗Watsco Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

These statements are based on management's current 4 expectations and are subject to uncertainty and changes in circumstances.

SEC original ↗Watsco Inc. — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Competitors

Competitors & peers

Same GICS sector — classification peers, not declared competitors

RELX (RELX) IndustrialsThomson Reuters (TRI) IndustrialsFedEx (FDX) IndustrialsVertiv (VRT) IndustrialsCanadian National Railway (CNI) IndustrialsAerCap Holdings (AER) IndustrialsCanadian Pacific Kansas City (CP) IndustrialsGeneral Dynamics (GD) Industrials
Documents

Filings

33 documents

Earnings releases

11 documents

Presentations

0 documents

No presentations for Watsco Inc. are held in this edition of the library.

Transcripts

0 documents

No transcripts for Watsco Inc. are held in this edition of the library.

Mentioned by

1 company

Other tracked companies whose held documents mention Watsco Inc. by name or ticker. A mention is counted once per document, from the document text the library holds.

See also the earnings calendar for every tracked company’s next earnings date.