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Why Shares of Watsco Are Higher Today

TheMotleyFool

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Shares of Watsco (NYSE: WSO) were up 16% at 1 p.m. EDT on Thursday after the distributor of heating, ventilation, and air-conditioning (HVAC) equipment reported better-than-expected quarterly results. Investors went into earnings season expecting the worst for industrial companies due to pandemic-related disruptions, but a steady recovery as the quarter went on led to results that easily beat analyst expectations.

Prior to the markets opening on Thursday, Watsco reported second-quarter earnings of $2.26 per share on revenue of $1.36 billion, beating expectations for EPS of $1.88 on revenue of $1.3 billion.

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Source Fool.com

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