Watsco Q2 Net Income Rises - Quick Facts

(RTTNews) - Watsco, Inc. (WSO) reported second quarter net income attributable to company of $65.4 million or $1.85 per share, compared to $56.1 million or $1.60 per share, last year.

On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $1.89 for the quarter. Analysts' estimates typically exclude special items.

Revenues were $1.22 billion compared to $1.17 billion, a year ago. Analysts expected revenue of $1.24 billion for the quarter.

Albert Nahmad, Watsco's CEO said: "Our second quarter performance produced the highest sales, profits and operating margin of any quarter in Watsco's history. Earnings growth and margin expansion were driven by a combination of solid sales growth, better selling margins and operating efficiencies. We remain focused on our fundamentals - gaining market share for our supplier partners, improving operating efficiency and having the products and people in place to best serve our customers."

Watsco's outlook for full-year 2015 earnings per share is within the range of $5.00 to $5.20. Analysts expect the company to report fiscal year earnings per share of $5.15.