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EARNINGS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2025

The following table presents the calculation of basic and diluted earnings per share for our common stock:


	Quarter Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Basic Earnings per Share:
Net income attributable to Watsco, Inc. shareholders	$	161,575	$	171,031	$	425,249	$	439,445
Less: distributed and undistributed earnings allocated to restricted common stock		10,707		11,899		28,118		30,708
Earnings allocated to Watsco, Inc. shareholders	$	150,868	$	159,132	$	397,131	$	408,737
Weighted-average common shares outstanding - Basic		37,860,987		37,552,000		37,813,336		37,314,089
Basic earnings per share for common stock	$	3.98	$	4.24	$	10.50	$	10.95
Allocation of earnings for Basic:
Common stock	$	137,431	$	145,413	$	361,717	$	373,273
Class B common stock		13,437		13,719		35,414		35,464
	$	150,868	$	159,132	$	397,131	$	408,737
Diluted Earnings per Share:
Net income attributable to Watsco, Inc. shareholders	$	161,575	$	171,031	$	425,249	$	439,445
Less: distributed and undistributed earnings allocated to restricted common stock		10,703		11,886		28,109		30,682
Earnings allocated to Watsco, Inc. shareholders	$	150,872	$	159,145	$	397,140	$	408,763
Weighted-average common shares outstanding - Basic		37,860,987		37,552,000		37,813,336		37,314,089
Effect of dilutive stock options		57,405		119,752		77,261		119,761
Weighted-average common shares outstanding - Diluted		37,918,392		37,671,752		37,890,597		37,433,850
Diluted earnings per share for common stock	$	3.98	$	4.22	$	10.48	$	10.92
Anti-dilutive stock options not included above		52,921		16,519		38,623		28,274