Watsco Q3 Profit Rises, But Misses Estimates; Boosts Dividend 11%
(RTTNews) - Watsco, Inc. (WSO), a distribution network for heating, air conditioning and refrigeration products, on Thursday reported an increase in third-quarter earnings allocated to shareholders to a record of $143.27 million or $4.03 per share from $128.30 million or $3.62 per share in the prior-year quarter.
Revenues for the quarter grew 14 percent to a record of $2.04 billion from $1.78 billion in the same quarter last year.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $4.35 per share on revenues of $2.04 billion for the quarter. Analysts' estimates typically exclude special items.
Watsco also announced that its Board of Directors approved an 11 percent increase in its annual dividend to $9.80 per share on each outstanding share of its Common and Class B common stock to be reflected in the Company's quarterly dividend payment in January 2023.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Watsco Q2 Results Miss Estimates
Watsco Q2 Results Misses Estimates - Update
European Shares Extend Losses On Economic Concerns
China Industrial Output, Retail Sales Growth Eases
Asian Shares Follow Wall Street Lower Amid Tech Valuation Concerns
NZ Dollar Rises After China Economic Data
NZ Dollar Rises Against Majors
