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Why Watsco Stock Is Higher Today

TheMotleyFool

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Why Watsco Stock Is Higher TodayPhoto, wide shot, wide-angle lens, Metal fabrication, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Hiroshi Sugimoto: https://img.midjourneyapi.xyz/temp/568784d0-c41a-4663-ab01-91f29a370903.png

Watsco (NYSE: WSO) investors have endured a series of disappointing earnings announcements, with shares falling following each of the last three reports.

In the first quarter, the company failed to meet expectations once again, but the markets are encouraged by what management sees up ahead. Shares of Watsco were up 7% as of 2 p.m. ET in the wake of the industrial distributor's earnings release.

Watsco is a distributor of parts and products for the North American heating, air conditioning, and refrigeration (HVAC) market. In 2023, the company at times felt the impact of softening demand from customers due to economic uncertainty.

Source Fool.com