Customers were more likely to repair than replace during the recession, but the pendulum is swinging the other way now.
Latest In Watsco
Overall sales of $714 million were up 13 percent, thanks to Carrier joint venture.
JV originally launched in 2009 now accounts for a majority of the distributors sales.
Watsco reported 5 percent same-store sales growth.
Same-store sales for the quarter were up 1 percent.
Overall sales for Watsco, including new locations, were up 15% to $1 billion.
On a same-store basis, sales were up 7 percent for Watsco.
The joint venture will operate as a stand-alone business using its existing infrastructure.
HVAC distributor reports a 1 percent decline in same-store sales for the year.
Same-store sales grow 4%; HVAC equipment sees biggest increase.
Watsco also announced an agreement to expand its joint venture with Carrier to include operations in Mexico.
Sales increases were broad-based across all product categories for the HVAC distributor.
New joint venture will distribute Carrier, Bryant and Payne brand products in the northeast U.S.
Watsco revenues boosted by sales of higher-efficiency HVAC products and replacement market.
Profit for the HVAC distributor increased 49 percent.
The HVAC distributor says it will continue to zone in on the Sun Belt.
Sales from Carrier Enterprise joint venture drive growth for the HVAC distributor.
With Carrier Enterprise, Watsco sales grew to $510 million for the quarter, up 75%.
Watsco's East Coast Metal Distributors picks up The Bill Voorhees Company.
Carrier Enterprise, a joint venture between Watsco and Carrier, contributed sales of $588 million for the year.
