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Dec 31, 2023
Watsco Q4 2023 Earnings Report
Watsco reported a 1% increase in sales to a record $1.60 billion for Q4 2023, with EPS at $2.06.
Key Takeaways
Watsco's Q4 2023 results showed a 1% increase in sales, reaching a record $1.60 billion. EPS was reported at $2.06, compared to $3.55 in the previous year. The company experienced a 40% increase in operating cash flow, achieving a record $299 million.
Sales increased by 1% to a record $1.60 billion.
Operating cash flow increased by 40% to a record $299 million.
EPS was $2.06, compared to $3.55 in the previous year.
Gross profit was $414 million with a gross margin of 25.8%.
Revenue by Segment
Forward Guidance
Watsco is well-positioned with its entrepreneurial culture, OEM relationships, leading technologies, and financial strength to optimize opportunities from industry catalysts such as regulatory changes, electrification, and the growth of ductless HVAC systems.
Positive Outlook
- Scale and entrepreneurial culture provide competitive advantages.
- Strong OEM relationships help optimize opportunities.
- Leading technologies enhance market position.
- Financial strength supports growth and investments.
- Benefiting from regulatory changes and industry catalysts.
Challenges Ahead
- Softer market conditions compared to previous years.
- Decline in OEM shipments of unitary HVAC systems.
- Seasonality affects financial results.
- Competitive conditions within the industry.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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