Watsco Sales Up 11% in Second Quarter - Modern Distribution Management

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Watsco Sales Up 11% in Second Quarter

Profit increased 31.2 percent to $51.3 million.
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Watsco Inc. (NYSE: WSO), Miami, FL, reported sales for the second quarter of $1.1 billion, an increase of 11 percent compared to the same period in 2012. Profit increased 31.2 percent to $51.3 million.

On a same-store basis, sales increased 8 percent, reflecting an 11 percent increase in air conditioning and heating (HVAC) equipment (65 percent of sales), a 4 percent increase in other HVAC products (31 percent of sales) and a 6 percent increase in commercial refrigeration products (4 percent of sales).

For the first six months, sales were $1.8 billion, an 11.5 percent increase compared to the same period a year earlier. Profit increased 36 percent to $64.7 million.

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