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Profit was $35 million, versus profit of $16 million a year ago.
For the first six months, sales increased 97 percent to $1.4 billion, including $625 million from Carrier. Same-store sales increased 7 percent, reflecting 17 percent growth in sales of air conditioning and heating equipment (50 percent of sales), a 3 percent decline in other HVAC products (37 percent of sales) and a 3 percent increase in the sale of refrigeration products (13 percent of sales).
"Put simply, this is our best quarter ever. Watsco delivered strong sales and earnings growth, generated substantially higher margins and produced a record amount of cash flow. Sales of higher-efficiency HVAC systems grew 64 percent during the quarter, enhancing sales mix and demonstrating the attractiveness and value of these products," said Albert H. Nahmad, president and CEO.
The move toward higher-efficiency HVAC systems, pent-up demand, and plans for acquisitions are expected to continue driving growth for Watsco.