Watsco Inc
NYSE:WSO
Income Statement
Earnings Waterfall
Watsco Inc
Revenue
|
7.3B
USD
|
Cost of Revenue
|
-5.3B
USD
|
Gross Profit
|
2B
USD
|
Operating Expenses
|
-1.2B
USD
|
Operating Income
|
768.6m
USD
|
Other Expenses
|
-269.3m
USD
|
Net Income
|
499.4m
USD
|
Income Statement
Watsco Inc
Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
3 743
N/A
|
3 792
+1%
|
3 842
+1%
|
3 895
+1%
|
3 945
+1%
|
3 991
+1%
|
4 044
+1%
|
4 086
+1%
|
4 113
+1%
|
4 156
+1%
|
4 147
0%
|
4 211
+2%
|
4 221
+0%
|
4 241
+0%
|
4 303
+1%
|
4 291
0%
|
4 342
+1%
|
4 396
+1%
|
4 453
+1%
|
4 520
+1%
|
4 547
+1%
|
4 551
+0%
|
4 591
+1%
|
4 689
+2%
|
4 770
+2%
|
4 847
+2%
|
4 831
0%
|
4 973
+3%
|
5 055
+2%
|
5 183
+3%
|
6 813
+31%
|
7 059
+4%
|
6 280
-11%
|
7 804
+24%
|
6 952
-11%
|
7 205
+4%
|
7 274
+1%
|
7 301
+0%
|
7 171
-2%
|
7 262
+1%
|
7 284
+0%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(2 844)
|
(2 880)
|
(2 918)
|
(2 954)
|
(2 988)
|
(3 018)
|
(3 056)
|
(3 087)
|
(3 106)
|
(3 140)
|
(3 135)
|
(3 182)
|
(3 186)
|
(3 201)
|
(3 244)
|
(3 238)
|
(3 276)
|
(3 318)
|
(3 365)
|
(3 408)
|
(3 426)
|
(3 428)
|
(3 460)
|
(3 543)
|
(3 613)
|
(3 676)
|
(3 669)
|
(3 771)
|
(3 832)
|
(3 913)
|
(5 090)
|
(5 227)
|
(4 613)
|
(5 686)
|
(5 011)
|
(5 196)
|
(5 244)
|
(5 273)
|
(5 176)
|
(5 251)
|
(5 292)
|
|
Gross Profit |
899
N/A
|
912
+1%
|
925
+1%
|
941
+2%
|
956
+2%
|
973
+2%
|
989
+2%
|
1 000
+1%
|
1 007
+1%
|
1 015
+1%
|
1 012
0%
|
1 029
+2%
|
1 035
+1%
|
1 041
+1%
|
1 059
+2%
|
1 053
-1%
|
1 066
+1%
|
1 078
+1%
|
1 088
+1%
|
1 112
+2%
|
1 120
+1%
|
1 123
+0%
|
1 130
+1%
|
1 146
+1%
|
1 157
+1%
|
1 171
+1%
|
1 162
-1%
|
1 201
+3%
|
1 223
+2%
|
1 270
+4%
|
1 724
+36%
|
1 832
+6%
|
1 668
-9%
|
2 118
+27%
|
1 941
-8%
|
2 009
+4%
|
2 030
+1%
|
2 028
0%
|
1 995
-2%
|
2 011
+1%
|
1 992
-1%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(628)
|
(636)
|
(640)
|
(647)
|
(651)
|
(656)
|
(660)
|
(665)
|
(671)
|
(675)
|
(679)
|
(687)
|
(689)
|
(697)
|
(704)
|
(705)
|
(716)
|
(724)
|
(730)
|
(747)
|
(758)
|
(759)
|
(769)
|
(781)
|
(800)
|
(824)
|
(821)
|
(829)
|
(833)
|
(847)
|
(1 138)
|
(1 198)
|
(1 058)
|
(1 342)
|
(1 172)
|
(1 212)
|
(1 221)
|
(1 225)
|
(1 214)
|
(1 213)
|
(1 224)
|
|
Selling, General & Administrative |
(630)
|
(637)
|
(642)
|
(647)
|
(633)
|
(655)
|
(659)
|
(665)
|
(652)
|
(675)
|
(679)
|
(687)
|
(669)
|
(697)
|
(704)
|
(705)
|
(694)
|
(724)
|
(730)
|
(747)
|
(735)
|
(759)
|
(769)
|
(781)
|
(776)
|
(824)
|
(821)
|
(829)
|
(807)
|
(847)
|
(1 138)
|
(1 198)
|
(1 030)
|
(1 342)
|
(1 172)
|
(1 212)
|
(1 190)
|
(1 225)
|
(1 214)
|
(1 213)
|
(1 188)
|
|
Depreciation & Amortization |
0
|
0
|
0
|
0
|
(18)
|
0
|
0
|
0
|
(19)
|
0
|
0
|
0
|
(20)
|
0
|
0
|
0
|
(22)
|
0
|
0
|
0
|
(22)
|
0
|
0
|
0
|
(25)
|
0
|
0
|
0
|
(26)
|
0
|
0
|
0
|
(28)
|
0
|
0
|
0
|
(32)
|
0
|
0
|
0
|
(35)
|
|
Operating Income |
271
N/A
|
276
+2%
|
284
+3%
|
294
+3%
|
306
+4%
|
317
+4%
|
329
+4%
|
335
+2%
|
337
+1%
|
341
+1%
|
333
-2%
|
342
+3%
|
346
+1%
|
344
-1%
|
355
+3%
|
348
-2%
|
350
+0%
|
354
+1%
|
358
+1%
|
365
+2%
|
363
-1%
|
364
+0%
|
361
-1%
|
365
+1%
|
357
-2%
|
347
-3%
|
341
-2%
|
372
+9%
|
390
+5%
|
423
+8%
|
586
+39%
|
634
+8%
|
609
-4%
|
776
+27%
|
769
-1%
|
797
+4%
|
809
+1%
|
803
-1%
|
781
-3%
|
798
+2%
|
769
-4%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(6)
|
(6)
|
(5)
|
(5)
|
(5)
|
(6)
|
(6)
|
(6)
|
(6)
|
(5)
|
(5)
|
(4)
|
(4)
|
(4)
|
(5)
|
(3)
|
(3)
|
(0)
|
4
|
6
|
7
|
6
|
6
|
5
|
6
|
6
|
8
|
10
|
10
|
14
|
20
|
22
|
18
|
22
|
17
|
18
|
21
|
20
|
19
|
20
|
21
|
|
Pre-Tax Income |
265
N/A
|
271
+2%
|
279
+3%
|
289
+4%
|
301
+4%
|
312
+4%
|
323
+4%
|
329
+2%
|
331
+1%
|
335
+1%
|
329
-2%
|
338
+3%
|
342
+1%
|
340
-1%
|
351
+3%
|
345
-2%
|
348
+1%
|
353
+2%
|
362
+3%
|
371
+2%
|
369
-1%
|
370
+0%
|
367
-1%
|
370
+1%
|
363
-2%
|
353
-3%
|
349
-1%
|
382
+9%
|
400
+5%
|
437
+9%
|
606
+39%
|
656
+8%
|
628
-4%
|
798
+27%
|
786
-2%
|
815
+4%
|
829
+2%
|
823
-1%
|
799
-3%
|
818
+2%
|
790
-3%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(78)
|
(80)
|
(82)
|
(87)
|
(92)
|
(96)
|
(102)
|
(104)
|
(105)
|
(106)
|
(102)
|
(105)
|
(106)
|
(104)
|
(106)
|
(100)
|
(100)
|
(98)
|
(89)
|
(81)
|
(75)
|
(74)
|
(71)
|
(71)
|
(67)
|
(65)
|
(64)
|
(70)
|
(77)
|
(84)
|
(119)
|
(131)
|
(129)
|
(164)
|
(165)
|
(173)
|
(126)
|
(124)
|
(120)
|
(125)
|
(156)
|
|
Income from Continuing Operations |
188
|
191
|
197
|
202
|
209
|
216
|
221
|
225
|
227
|
229
|
227
|
232
|
236
|
236
|
245
|
245
|
247
|
256
|
273
|
290
|
295
|
296
|
296
|
299
|
296
|
288
|
285
|
311
|
323
|
353
|
487
|
526
|
499
|
634
|
621
|
642
|
704
|
699
|
679
|
694
|
634
|
|
Income to Minority Interest |
(60)
|
(60)
|
(61)
|
(57)
|
(57)
|
(58)
|
(55)
|
(55)
|
(54)
|
(54)
|
(52)
|
(53)
|
(53)
|
(52)
|
(52)
|
(50)
|
(49)
|
(50)
|
(51)
|
(54)
|
(54)
|
(54)
|
(54)
|
(52)
|
(50)
|
(47)
|
(47)
|
(50)
|
(54)
|
(59)
|
(80)
|
(85)
|
(80)
|
(101)
|
(95)
|
(100)
|
(103)
|
(101)
|
(101)
|
(102)
|
(98)
|
|
Net Income (Common) |
119
N/A
|
122
+3%
|
126
+3%
|
134
+6%
|
140
+5%
|
146
+4%
|
154
+6%
|
157
+2%
|
159
+1%
|
162
+2%
|
161
-1%
|
165
+3%
|
168
+2%
|
169
+0%
|
177
+5%
|
178
+1%
|
191
+7%
|
198
+4%
|
213
+8%
|
227
+6%
|
223
-2%
|
224
+0%
|
224
N/A
|
228
+2%
|
226
-1%
|
220
-2%
|
218
-1%
|
239
+10%
|
246
+3%
|
269
+9%
|
370
+38%
|
401
+8%
|
382
-5%
|
485
+27%
|
478
-1%
|
493
+3%
|
550
+12%
|
549
0%
|
535
-3%
|
551
+3%
|
499
-9%
|
|
EPS (Diluted) |
3.69
N/A
|
3.78
+2%
|
3.9
+3%
|
4.14
+6%
|
4.32
+4%
|
4.48
+4%
|
4.77
+6%
|
4.85
+2%
|
4.9
+1%
|
4.97
+1%
|
4.93
-1%
|
5.07
+3%
|
5.15
+2%
|
5.16
+0%
|
5.41
+5%
|
5.45
+1%
|
5.79
+6%
|
5.78
0%
|
6.2
+7%
|
6.58
+6%
|
6.48
-2%
|
6.5
+0%
|
6.48
0%
|
6.54
+1%
|
6.5
-1%
|
6.27
-4%
|
6.1
-3%
|
6.79
+11%
|
7.01
+3%
|
7.62
+9%
|
10.44
+37%
|
11.33
+9%
|
10.78
-5%
|
13.64
+27%
|
13.47
-1%
|
13.88
+3%
|
15.41
+11%
|
15.13
-2%
|
14.69
-3%
|
15.06
+3%
|
13.67
-9%
|