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Stock impact report

Why Watsco (WSO) Stock Is Trading Lower Today [Yahoo! Finance]

Watsco, Inc. Class B (WSO.B) 
Company Research Source: Yahoo! Finance
Shares of equipment distributor Watsco (NYSE:WSO) fell 3.8% in the afternoon session after the company disclosed at a Morgan Stanley conference that its year-to-date unit sales are down 12%. The slowdown was attributed to a decrease in new construction and more cautious consumer spending. This update comes after a recent disappointing quarter for the HVAC distributor. In its second-quarter report, Watsco's revenue of $2.06 billion was down 3.6% year-over-year and fell short of analysts' expectations. The combination of the significant drop in unit sales and a recent revenue miss is likely raising investor concerns about the company's near-term growth prospects amid current market challenges. The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Watsco? Access our full analysis report here, it's free What Is The Market Telling Us Watsco's shares are not very volatile and have only had 5 moves Show less Read more
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