Watsco, Inc. (NYSE:WSO) shares are trading lower on Tuesday after reporting second-quarter results.
The company reported quarterly earnings per share of $4.49, missing the street view of $4.67. Sales of $2.14 billion missed the analyst consensus of $2.19 billion.
Revenue increased 7% year over year (4% increase on a same-store basis). Gross profit increased 3% to $580 million, with 27.1% gross margin.
Second quarter sales reflect 6% growth in ducted residential units and …