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Watsco Q4 Profit Declines; Same-store Sales Up 1%

Watsco, Inc. (WSO) reported fourth-quarter earnings per share of $0.92 compared to $1.02, previous year. Net income attributable to shareholders declined year-on-year to $37.28 million from $39.59 million.

Fourth-quarter revenues increased 8% to $1.07 billion from $991.33 million, prior year. On a same-store basis, sales were up 1%, for the quarter.

Watsco also announced that its Board approved an 11% increase in its annual dividend to $7.10 per share to be reflected in the next regular quarterly dividend payment in April 2020.

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