Watsco (WSO) Quarterly Income Statement

Income Statement Summary

Watsco (WSO) quarterly income statement covering the six quarters from December 2023 to March 2025, as reported to the SEC.

Watsco reported revenues of $1.53B in the quarter ended March 31, 2025, down 2.2% from $1.56B a year earlier.
That is 12.7% lower than the December 2024 quarter.
Gross profit was $429.62M, down 0.23% from $430.63M. That is a gross margin of 28.1%.
Operating income was $112.19M, down 11.3% from $126.54M. Operating margin was 7.3%.
Net income was $80.06M, down 8% from $87M. Net margin was 5.2%.
Diluted earnings per share was $1.93, down 11.1% from $2.17.
Cost of sales took 71.9% of revenues and selling, general and administrative expenses 21.1%.

An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.

Figures in USD thousands, except per share data

						Mar'25	Dec'24	Sep'24	Jun'24	Mar'24	Dec'23
Revenues
1,531,086	1,753,962	2,160,036	2,139,328	1,564,991	1,603,197	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revenues						1,531,086	1,753,962	2,160,036	2,139,328	1,564,991	1,603,197	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of sales
1,101,463	1,285,878	1,593,792	1,559,568	1,134,366	1,188,781	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of sales						1,101,463	1,285,878	1,593,792	1,559,568	1,134,366	1,188,781	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gross profit
429,623	468,084	566,244	579,760	430,625	414,416	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gross profit						429,623	468,084	566,244	579,760	430,625	414,416	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Selling, general and administrative expenses
322,581	338,489	326,373	319,029	309,548	312,461	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Selling, general and administrative expenses						322,581	338,489	326,373	319,029	309,548	312,461	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other income
5,146	6,593	10,376	8,072	5,460	5,793	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other income						5,146	6,593	10,376	8,072	5,460	5,793	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating income
112,188	136,188	250,247	268,803	126,537	107,748	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating income						112,188	136,188	250,247	268,803	126,537	107,748	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest income, net
5,417	6,713	6,773	4,913	2,470	1,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest income, net						5,417	6,713	6,773	4,913	2,470	1,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income before income taxes
117,605	142,901	257,020	273,716	129,007	108,748	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income before income taxes						117,605	142,901	257,020	273,716	129,007	108,748	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income taxes
23,065	27,721	55,373	59,065	24,745	11,007	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Income taxes						23,065	27,721	55,373	59,065	24,745	11,007	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income
94,540	115,180	201,647	214,651	104,262	97,741	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income						94,540	115,180	201,647	214,651	104,262	97,741	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Less: net income attributable to non-controlling interest
14,479	18,339	30,616	33,241	17,258	15,194	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Less: net income attributable to non-controlling interest						14,479	18,339	30,616	33,241	17,258	15,194	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income attributable to Watsco, Inc.
80,061	96,841	171,031	181,410	87,004	82,547	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income attributable to Watsco, Inc.						80,061	96,841	171,031	181,410	87,004	82,547	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Earnings per share for Common and Class B common stock (collectively "common stock"):
Basic and Diluted
-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic and Diluted						-	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic
1.93	2.43	4.24	4.50	2.17	2.09	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic						1.93	2.43	4.24	4.50	2.17	2.09	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted
1.93	2.42	4.22	4.49	2.17	2.07	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted						1.93	2.42	4.22	4.49	2.17	2.07	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx