Watsco Q3 Earnings Miss Estimates Despite Revenue Beat

Watsco Inc. (WSO) reported third-quarter net income of $155.4 million, or $3.77 per share, missing Wall Street expectations of $4.13 per share, according to a Zacks Investment Research survey of five analysts. The Miami-based heating and cooling company posted revenue of $2.22 billion for the period, surpassing the $2.21 billion forecast by four analysts surveyed by Zacks. The earnings shortfall contrasts with the revenue beat, as the company's per-share profit fell short of consensus estimates for the quarter.