Miami-based Watsco, Inc. (NYSE: WSO) (Paris: WSO), No. 2 on MDM’s list of the top HVACR/plumbing distributors, reported sales for the third quarter of $1 billion, an increase of 12 percent over the same period a year ago. Same-store sales increased 1 percent. Profit increased 22 percent to $41 million.
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For the first nine months, sales rose 14 percent to $2.7 billion. Same-store sales increased 3 percent, reflecting a 5 percent increase in HVAC equipment, a 4 percent decrease in other HVAC products and an 18 percent increase in commercial refrigeration products.
Nine-month profits were 15 percent above the comparable period a year ago, at $88.6 million.