Watsco (WSO) Misses Q1 EPS by 15c
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Watsco Achieved Record Sales, Maintained Solid Balance Sheet and Progressed With its Innovative Technologies
April 23, 2020 7:30 AM EDTMIAMI, April 23, 2020 (GLOBE NEWSWIRE) -- Watsco, Inc. (NYSE: WSO) reported results for the quarter ended March 31, 2020 and provided commentary on its financial strength, culture of innovation and other important aspects of its business.
Financial Strength & Liquidity
Watsco has a solid balance sheet with little debt. At March 31, 2020, the Company had $51 million in cash, $156 million in borrowings drawn from its $560 million credit facility and $1.7 billion of shareholders equity. The Company believes this financial strength, its current highly-conservative leverage ratios, access to low-cost capital and... More
