The 2020 Mid-Year Economic Update_long

Watsco 2Q Sales Up 4%

Sales grew in all product segments during the quarter.

HVAC distributor Watsco Inc. (NYSE:WSO), Miami, FL, reported second-quarter sales of $1.2 billion, up 4 percent year-over-year. Profit increased 9 percent to $56.1 million.

HVAC equipment sales grew 6 percent in the quarter, while U.S. residential equipment increased 8 percent. Other HVAC products increased 2 percent, and commercial refrigeration equipment grew 5 percent.

On a geographic basis, domestic sales grew 6 percent, while international sales decreased 4 percent.

For the first six months, sales were $1.9 billion, up 5 percent over the same period a year ago. Profit grew 12 percent to $72.9 million.

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