Earnings
Watsco Defends A 26.4% Gross Margin: 'A Lot Of Noise,' Says President, With 30% Still The Goal
Executives fielded margin questions all call, citing customer mix, tough comparisons and a long-run climb from 24% to 25%.
WSO
Watsco (WSO) news from Bullished: SEC filings, earnings, insider trades and deals, explained in plain English with links to the source documents.
Earnings
Watsco's Chairman Says It Is Now 'Committed To Growing' In Plumbing After Granite Deal
Management pitched plumbing as a second industry where Watsco can "get size," while its CFO said the move is not really a new entry.
Deals
Watsco Sales Hit A Record $2.22 Billion, But Margins Shrink And EPS Slips 5%
The HVAC distributor's gross margin fell to 26.4% from 27.5% as residential unit volumes returned to growth and two acquisitions added scale.
SEC Filings
Watsco Says It Issued 338,176 Shares To Granite Group Sellers, Replacing Its Earlier Estimate
An amended 8-K gives the exact share count for the Granite Group deal, which closed October 9 at $505.0 million in total consideration.