Watsco Sales Jump in ‘Record’ 3Q - Modern Distribution Management

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Watsco Sales Jump in ‘Record’ 3Q

Watsco reported a 31% jump in EPS to a record $3.62 and a 16% sales growth to $1.78 billion in 3Q 2021.
On July 26, HVAC distributor Watsco released their quarterly earnings report, displaying record operating results for the second quarter and six-month periods ended June 30, 2022. 

Miami-based HVACR distributor Watsco Inc. (NYSE:WSO), reported third-quarter sales of $1.78 billion, a 16% increase over the same period in 2020.

Watsco also reported a 31% 3Q increase in earnings per share to a record $3.62.

The company reported a 32% increase in operating income to a record $207 million, a 25% increase on a same store basis.

Watsco ranks No. 1 on MDM’s Top Distributors list for HVACR companies, with $5.1 billion in 2020 revenue. The company also ranks 9th on MDM’s list of top 40 industrial and construction distributors.

Over the first nine months of 2021, Watsco has seen an overall 50% increase in EPS to $8.75.

For the first three quarters, the company also reported a 22% increase in sales growth to a record $4.77 billion, a 17% growth on a same-store basis.

Watsco also has reported a year-to-date operating income increase of 53% to a record $505 million, a 46% increase on a same-store basis.

Excluding acquisitions, recent sales trends include a 16% growth in HVAC equipment and 28% increase in commercial refrigeration products, the company said.

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