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Watsco WSO Q2 2025 earnings

Reported July 30, 2025 · Before market open

Revenue$2.1BMiss by $162.4MDiluted EPS$4.52Miss by $0.26
Revenue estimate$2.2B
EPS estimate$4.78

Next report

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

Financials

Q2 2025

Income statement

See full
Revenue$2.1B-3.6%
Gross profit$603.5M+4.1%
Operating income$271.9M+1.1%
Net income$183.6M+1.2%
EPS (diluted)$4.52+0.7%

Balance sheet

See full
Cash & equivalents$293.0M+30.3%
Total debt$468.2M+9.6%
Total equity$2.8B+5.7%
Total assets$4.7B+7.6%

Cash flow

See full
Operating cash flow-$7.4M-113%
CapEx$6.8M+6.5%
Free cash flow-$14.3M-128%

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$17.47B+2.3%
Enterprise value$17.64B+2.1%
P/E32.9×+0.1×
P/S2.3×0.0×

Profitability

See full
Gross margin27.5%+0.7pp
Operating margin10.3%0.0pp
Net margin7.1%+0.1pp
FCF margin5.3%-5.2pp

Returns & leverage

See full
Return on equity19.8%-2.7pp
Debt / equity0.2×0.0×
Current ratio3.1×-0.1×

Versus estimates

Revenue

Q1 2026$1.5BBeat by $45.8MQ4 2025$1.6BMiss by $38.1MQ3 2025$2.1BMiss by $98.1M
Q2 2025$2.1BMiss by $162.4M
Q1 2025$1.5BMiss by $704.2MQ4 2024$1.8BBeat by $89.5M

Diluted EPS

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

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Questions, answered.

When did Watsco report Q2 2025 earnings?
Watsco (WSO) reported Q2 2025 earnings on July 30, 2025 before market open.
What were Watsco's Q2 2025 revenue and EPS?
Watsco reported revenue of $2.1B and diluted EPS of $4.52 for Q2 2025.
Did Watsco beat estimates in Q2 2025?
Revenue missed the consensus estimate of $2.2B by $162.4M. EPS missed the consensus estimate of $4.78 by $0.26.
How did Watsco's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 3.6% from $2.1B a year earlier and diluted EPS grew 0.7% from $4.49.
Where can I find Watsco's Q2 2025 SEC filings?
You can read the 10-Q periodic report (0001193125-25-176973) directly on SEC EDGAR. The filing index links above go to sec.gov.