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Watsco WSO Q3 2025 earnings

Reported October 29, 2025 · Before market open

Revenue$2.1BMiss by $98.1MDiluted EPS$3.98Miss by $0.46
Revenue estimate$2.2B
EPS estimate$4.44

Next report

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

Financials

Q3 2025

Income statement

See full
Revenue$2.1B-4.3%
Gross profit$568.9M+0.5%
Operating income$234.8M-6.2%
Net income$161.6M-5.5%
EPS (diluted)$3.98-5.7%

Balance sheet

See full
Cash & equivalents$324.3M+10.2%
Total debt$470.1M+5.9%
Total equity$2.8B+4.4%
Total assets$4.6B+0.8%

Cash flow

See full
Operating cash flow$354.9M+52.5%
CapEx$8.9M-9.4%
Free cash flow$346.1M+55.2%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$16.39B-11.2%
Enterprise value$16.54B-11.1%
P/E31.4×-3.9×
P/S2.2×-0.3×

Profitability

See full
Gross margin27.9%+1.3pp
Operating margin10.2%+0.1pp
Net margin7%+0.1pp
FCF margin7%-1.9pp

Returns & leverage

See full
Return on equity18.9%-2.3pp
Debt / equity0.2×0.0×
Current ratio3.8×+0.5×

Versus estimates

Revenue

Q1 2026$1.5BBeat by $45.8MQ4 2025$1.6BMiss by $38.1M
Q3 2025$2.1BMiss by $98.1M
Q2 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 $0.14Q4 2025$1.68Miss by $0.20
Q3 2025$3.98Miss by $0.46
Q2 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 Q3 2025 earnings?
Watsco (WSO) reported Q3 2025 earnings on October 29, 2025 before market open.
What were Watsco's Q3 2025 revenue and EPS?
Watsco reported revenue of $2.1B and diluted EPS of $3.98 for Q3 2025.
Did Watsco beat estimates in Q3 2025?
Revenue missed the consensus estimate of $2.2B by $98.1M. EPS missed the consensus estimate of $4.44 by $0.46.
How did Watsco's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 4.3% from $2.2B a year earlier and diluted EPS declined 5.7% from $4.22.
Where can I find Watsco's Q3 2025 SEC filings?
You can read the 10-Q periodic report (0001193125-25-272272) directly on SEC EDGAR. The filing index links above go to sec.gov.