Filing Flows › Watsco (WSO) › Q2 2026 › vs Q1 2026
Watsco (WSO) Q2 2026 vs Q1 2026 (quarter over quarter)
Watsco's revenue rose $572M (+37%) from $1.5B in Q1 2026 to $2.1B in Q2 2026. Gross margin 27.5% against 27.9% (-0.4 pts).
Watsco, Q2 2026: revenue $2.1B (+2% year over year), operating margin 11.3%, net earnings $163M, operating cash flow −$2.5M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 27.5% | 27.9% | -0.4 pts |
| Operating margin | 11.3% | 7.2% | +4.1 pts |
| Net margin | 7.8% | 5.2% | +2.6 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $2.1B | $1.5B | $572M | +37% |
| Gross profit | $579M | $428M | $151M | +35% |
| Cost of revenue | $1.5B | $1.1B | $420M | +38% |
| Operating profit | $238M | $110M | $128M | +116% |
| Operating expenses | $341M | $317M | $23.2M | +7% |
| Pre-tax earnings | $242M | $117M | $125M | +107% |
| Net earnings | $163M | $79.1M | $84.3M | +107% |
| Minority interests | $28.0M | $13.9M | $14.1M | +102% |
| Income tax | $50.6M | $23.7M | $26.9M | +113% |
| Operating cash sources | $185M | $117M | $68.4M | +58% |
| Depreciation & amortization | $10.9M | $11.0M | −$95K | -0.9% |
| Share-based compensation | $8.6M | $8.1M | $557K | +7% |
| Cash used in operations | $2.5M | $18.9M | −$16.4M | -87% |
| Working capital & other | $185M | $117M | $68.4M | +58% |
Questions
How much did Watsco's revenue grow quarter over quarter in Q2 2026?
Watsco's revenue rose $572M (+37%) from $1.5B in Q1 2026 to $2.1B in Q2 2026. Gross margin 27.5% against 27.9% (-0.4 pts).