Shares of Watsco Inc. (WSO), a leading distributor of HVAC and refrigeration equipment, surged 5.38% in pre-market trading on Tuesday, February 18, 2025. The stock rally came after the company reported impressive fourth-quarter results and announced an 11% increase in its annual dividend.
Watsco posted record fourth-quarter sales of $1.75 billion, surpassing analysts' estimates of $1.66 billion. The company's earnings per share (EPS) for the quarter stood at $2.37, beating the consensus estimate of $2.16. The strong financial performance was driven by robust demand for HVAC equipment, expanded margins, and improved operating efficiency.
In addition to the stellar Q4 results, Watsco's Board of Directors approved an 11% increase in the company's annual dividend to $12.00 per share. This move reflects Watsco's strong financial position, confidence in future growth prospects, and commitment to returning value to shareholders. The increased dividend will be effective with the next regular payment in April 2025.
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