Watsco misses Street 4Q forecasts

MIAMI (AP) _ Watsco Inc. (WSO) on Tuesday reported fourth-quarter profit of $26.5 million.

On a per-share basis, the Miami-based company said it had net income of 81 cents.

The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.

The heating and cooling company posted revenue of $913.6 million in the period, which also fell short of Street forecasts. Six analysts surveyed by Zacks expected $951 million.

For the year, the company reported profit of $168 million, or $5.15 per share. Revenue was reported as $4.22 billion.

Watsco shares have climbed almost 6 percent since the beginning of the year. The stock has risen 28 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WSO at https://www.zacks.com/ap/WSO


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