The 2020 Mid-Year Economic Update_long

Watsco Third Quarter Sales Up 10%

Profit for the HVAC distributor increased 49 percent.

Watsco, Inc., (NYSE: WSO), Coconut Grove, FL, No. 4 on the top 12 HVAC distributors, reported sales for the third quarter ended Sept. 30, 2010, were $813 million, up 10 percent over the same period last year. Profit increased 49 percent to $31 million.

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The increase in revenues was driven by growth in all product categories. Air conditioning and heating equipment sales (60 percent of sales) grew 8 percent, sales of other HVAC products (32 percent of sales) grew 11 percent, and sales of commercial refrigeration products (8 percent of sales) increased 19 percent.

For the first nine months, sales increased 52 percent to $2.2 billion. Profit was $97.2 million, an increase of 129 percent.

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