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HVAC distributor Watsco Inc. (NYSE:WSO), Miami, FL, reported third-quarter sales of $1.1 billion, up 4.9 percent year-over-year. Profit increased 19 percent to $54.5 million.
HVAC equipment sales grew 7 percent in the quarter, while U.S. residential equipment increased 8 percent. Other HVAC products were flat, and commercial refrigeration equipment grew 14 percent.
For the first nine months, sales were $3.1 billion, up 5.2 percent over the same period a year ago. Profit grew 15 percent to $127.3 million.