WSO - Why Watsco Stock Is Higher Today
2024-04-24 15:42:54 ET
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.
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Why Watsco Stock Is Higher Today