Watsco Q3 Earnings Rise - Quick Facts

(RTTNews) - Watsco, Inc. (WSO) Thursday reported third-quarter net income attributable to company of $54.46 million, higher than $45.69 million a year ago. Earnings per share for common and Class B common stock were $1.56 compared with $1.32 last year. On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $1.56 for the quarter. Analysts' estimates typically exclude special items. Revenues increased 5 percent to $1.135 billion from $1.081 billion in the year-ago quarter. Analysts expected revenue of $1.15 billion. Albert Nahmad, the group's CEO commented : "Watsco delivered another record quarter through share gains in the United States and Canada, a stronger sales mix of high-efficiency HVAC equipment, higher gross profit margins and improved operating efficiencies." Looking ahead, for the full-year 2014, the company expects earnings per share within the range of $4.20 - $4.40, representing a prospective annual growth rate of earnings per share of 14 percent to 20 percent. Analysts are looking for earnings of $4.26.