Hurricanes Cool Off Watsco's Growth -- for Now
Hurricanes Harvey, Irma, and Maria have devastated several parts of the U.S., and their impact on businesses has become increasingly clear as earnings season has progressed over the past couple of weeks. Watsco (NYSE: WSO) distributes air conditioning, heating, and ventilation equipment and systems, and the locations it serves include many of those struck by storms during the summer months.
Coming into Wednesday's third-quarter financial report, Watsco investors had hoped to see sizable earnings gains despite fairly lukewarm growth in sales. Watsco wasn't able to meet those expectations, but it believes that the storms could have a long-term silver lining that will eventually bolster the company's prospects. Let's look more closely at what happened with Watsco and what to expect going forward.
Image source: Watsco.
Source: Fool.com
