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Watsco Inc.

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Watsco reported third-quarter 2018 results, wherein earnings and revenues missed the Zacks Consensus Estimate by 6.2% and 1.2%, respectively. However, earnings increased 16% and revenues grew 5% year over year, backed by strong unit demand, higher equipment pricing and improved sales mix of high-efficiency systems. Continued investment in the technologies designed to revolutionize Watsco’s customer experience also add to the positives. However, timing of vendor-related incentives fluctuations in sales due to seasonal demand of residential air conditioners and heating equipment hurt its profitability significantly. Shares of Watsco have underperformed the industry in the past year. Earnings estimates for 2018 and 2019 have moved south over the past 30 days.


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