EarningsQ2 2026 Earnings Report
MX:WSO Q2 2026 EPS Results
Actual EPS$72.71
Consensus EPS$80.17
Beat/MissMissed by -$7.45
One Year Ago EPS$82.17
MX:WSO Q2 2026 Revenue Results
Actual Revenue$38.26B
Expected Revenue$38.95B
Beat/MissMissed by -$690.26M
YoY Revenue Growth+2.06%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeBefore Open
Conference CallWednesday, July 29, 2026
MX:WSO Upcoming Earnings
Watsco's next earnings date is estimated for October 15, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:WSO Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call portrays a company returning to more conventional operating conditions with stabilized end markets, notable digital and e-commerce momentum, strong cash/no-debt balance sheet and a strategic acquisition (Jackson Supply). Offsetting these positives are a meaningful year-over-year gross margin contraction (~180 bps) driven largely by prior-year pricing and A2L comparisons, softness in commercial/VRF, some regional new-build weakness, and inventory timing considerations. Management emphasizes stabilization, long-term margin targets (30%), and technology-driven growth opportunities, suggesting confidence in future recovery.Company Guidance
Modest Revenue Growth
Sales increased 2% year-over-year to $2.1 billion in Q2 2026.
Residential HVAC Strength
Residential HVAC equipment, the company's largest segment, grew 5% in the quarter with gains in both unit volume and pricing.
Solid Profitability Metrics
Gross profit was $579 million and operating income was $238 million, yielding an operating margin of 11.3% and GAAP earnings per share of $4.00.
Improved Cash and Cash Flow
Ended the quarter with $464 million in cash and no debt; operating cash flow for the 6-month period improved by $168 million driven by a lower ramp-up of seasonal inventory.
Dividend Increase and Shareholder Return
Annual dividend was increased 10% to $13.20 per share; 2026 marks the 52nd consecutive year of paying dividends.
Strategic Acquisition — Jackson Supply
Closed on Jackson Supply June 1; Jackson brings approximately $230 million in annual sales across 25 Sunbelt locations and contributed roughly $20 million of revenue in June, with management highlighting aggressive growth plans.
Technology and Digital Traction
E-commerce sales grew 13% and comprised 37% of total sales over the last 12 months (certain markets 50–70% penetration); mobile apps have >70,000 active monthly users.
OnCallAir Growth
OnCallAir produced more than 340,000 proposals over the last year generating $1.9 billion of gross merchandise value, a 15% increase year-over-year.
New Platforms and Operational Initiatives
Launched SupplySync.com (Q2) targeting institutional customers; expanded VCR (vendor consolidation) and matured Hydros shared logistics, plus ongoing AI investments to improve customer experience and supply chain efficiency.
Early July Momentum
Through July 28, management reported roughly 4%–5% organic growth (July performance) and noted unit growth in Q2 and July, indicating stabilization.
MX:WSO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed