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Watsco WSO Q1 2026 earnings

Reported April 28, 2026 · Before market open

Revenue$1.5BBeat by $45.8MDiluted EPS$1.87Beat by $0.14
Revenue estimate$1.5B
EPS estimate$1.73

Next report

Jul 29, 2026 (In 2 weeks)
Revenue estimate$2.1B
EPS estimate$4.36

Financials

Q1 2026

Income statement

See full
Revenue$1.5B+0.1%
Gross profit$427.6M-0.5%
Operating income$110.2M-1.8%
Net income$79.1M-1.2%
EPS (diluted)$1.87-3.1%

Balance sheet

See full
Cash & equivalents$392.7M-9.1%
Total debt$496.3M+4.8%
Total equity$2.8B+3.6%
Total assets$4.6B+4.4%

Cash flow

See full
Operating cash flow-$18.9M+89.4%
CapEx$7.0M-7.7%
Free cash flow-$25.9M+86.0%

Valuation & ratios

Valuation

as of 07/09/26
See full
Market cap$15.66B-28.1%
Enterprise value$15.76B-27.7%
P/E31.6×-9.6×
P/S2.2×-0.7×

Profitability

See full
Gross margin28%+1.1pp
Operating margin9.9%-0.2pp
Net margin6.8%-0.1pp
FCF margin9.6%+3.5pp

Returns & leverage

See full
Return on equity18.3%-2.1pp
Debt / equity0.2×0.0×
Current ratio3.3×+0.1×

Versus estimates

Revenue

Q1 2026$1.5BBeat by $45.8M
Q4 2025$1.6BMiss by $38.1MQ3 2025$2.1BMiss by $98.1MQ2 2025$2.1BMiss by $162.4MQ1 2025$1.5BMiss by $704.2MQ4 2024$1.8BBeat by $89.5M

Diluted EPS

Q1 2026$1.87Beat by $0.14
Q4 2025$1.68Miss by $0.20Q3 2025$3.98Miss by $0.46Q2 2025$4.52Miss by $0.26Q1 2025$1.93Miss by $0.36Q4 2024$2.37Beat by $0.22

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Questions, answered.

When did Watsco report Q1 2026 earnings?
Watsco (WSO) reported Q1 2026 earnings on April 28, 2026 before market open.
What were Watsco's Q1 2026 revenue and EPS?
Watsco reported revenue of $1.5B and diluted EPS of $1.87 for Q1 2026.
Did Watsco beat estimates in Q1 2026?
Revenue beat the consensus estimate of $1.5B by $45.8M. EPS beat the consensus estimate of $1.73 by $0.14.
How did Watsco's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 0.1% from $1.5B a year earlier and diluted EPS declined 3.1% from $1.93.
Where can I find Watsco's Q1 2026 SEC filings?
You can read the 8-K earnings release (0001193125-26-183549) and the 10-Q periodic report (0001193125-26-214570) directly on SEC EDGAR. The filing index links above go to sec.gov.