AcquisitionsApr 28, 2026, 07:32 AM
WSO to Acquire Jackson Supply Co. ($230M Sales); Q1 EPS $1.87
AI Summary
Watsco, Inc. announced an agreement to acquire Jackson Supply Company, a leading Sunbelt HVAC distributor with $230 million in annual sales, expected to close in Q2 2026. For Q1 2026, the company reported flat revenues of $1.53 billion, a 2% decrease in operating income to $110 million, and a 3% decrease in EPS to $1.87. Despite the slight decline in profitability, Watsco improved cash used in operations by $159 million and increased its annual cash dividend by 10% to $13.20 per share, reflecting stabilizing markets and improved operating efficiency.
Key Highlights
- WSO to acquire Jackson Supply Company, a leading Sunbelt HVAC distributor.
- Jackson Supply Company has annual sales of $230 million.
- Q1 2026 revenue was flat at $1.53 billion.
- Q1 operating income decreased 2% to $110 million.
- Q1 earnings per share decreased 3% to $1.87.
- Cash used in operations improved by $159 million to $19 million.
- Annual cash dividend increased 10% to $13.20 per share.
- E-commerce sales grew 16% to $2.6 billion for the LTM.