For the quarter ended June 2024, Watsco (WSO Quick QuoteWSO - Free Report) reported revenue of $2.14 billion, up 6.8% over the same period last year. EPS came in at $4.49, compared to $4.42 in the year-ago quarter.

The reported revenue represents a surprise of -0.16% over the Zacks Consensus Estimate of $2.14 billion. With the consensus EPS estimate being $4.75, the EPS surprise was -5.47%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Watsco performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Sales trends - HVAC equipment (% of sales)

  : 71% compared to the 36.5% average estimate based on two analysts.

• Sales trends - Commercial refrigeration products (% of sales)

  : 4% compared to the 3.3% average estimate based on two analysts.

• Sales trends - Other HVAC products (% of sales)

  : 25% compared to the 14% average estimate based on two analysts.

View all Key Company Metrics for Watsco here>>>

Shares of Watsco have returned -2% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.