Filing Flows › Watsco (WSO) › Q2 2026 › vs Q2 2025
Watsco (WSO) Q2 2026 vs Q2 2025 (year over year)
Watsco's revenue rose $42.4M (+2%) from $2.1B in Q2 2025 to $2.1B in Q2 2026. Gross margin 27.5% against 29.3% (-1.8 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 27.5% | 29.3% | -1.8 pts |
| Operating margin | 11.3% | 13.2% | -1.9 pts |
| Net margin | 7.8% | 8.9% | -1.1 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $2.1B | $2.1B | $42.4M | +2% |
| Gross profit | $579M | $603M | −$24.6M | -4% |
| Cost of revenue | $1.5B | $1.5B | $67.0M | +5% |
| Operating profit | $238M | $272M | −$33.5M | -12% |
| Operating expenses | $341M | $332M | $8.9M | +3% |
| Pre-tax earnings | $242M | $274M | −$32.3M | -12% |
| Net earnings | $163M | $184M | −$20.3M | -11% |
| Minority interests | $28.0M | $33.2M | −$5.2M | -16% |
| Income tax | $50.6M | $57.4M | −$6.9M | -12% |
| Operating cash sources | $185M | $211M | −$25.4M | -12% |
| Depreciation & amortization | $10.9M | $10.9M | $14K | +0.1% |
| Share-based compensation | $8.6M | $8.8M | −$178K | -2% |
| Cash used in operations | $2.5M | $7.4M | −$4.9M | -66% |
| Working capital & other | $185M | $211M | −$25.4M | -12% |
Questions
How much did Watsco's revenue grow year over year in Q2 2026?
Watsco's revenue rose $42.4M (+2%) from $2.1B in Q2 2025 to $2.1B in Q2 2026. Gross margin 27.5% against 29.3% (-1.8 pts).