The 2020 Mid-Year Economic Update_long

Watsco Earnings Grow 14% in 1Q

Watsco, Inc., distributor of air conditioning and heating products, reported its revenues grew 14% to $394 million in the first quarter ended March 31, 2006. Net income rose to $13 million compared with $9.1 million in the same period last year.

Same-store growth rates for revenue and gross profit were also 14% for the quarter.

“Watsco is off to a great start with double digit revenue increases and expanding margins. This should be another great year and even more exciting is the potential for long-term growth as we continue to find ways to increase our industry market share from its present 7%,’ said Watsco President and CEO Albert H. Nahmad. ‘We participate in a very large market with an estimated 120 million single-family homes in the United States, most of which have central air conditioning and heating systems that eventually wear out and must be repaired or replaced.’

Watsco distributes air conditioning, heating and refrigeration equipment and related parts and supplies in the distribution segment of the HVAC industry, currently operating 357 locations serving more than 38,000 customers in 31 states.

For more details on Watsco’s first quarter earnings, click here.

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.


articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Get the Newsletter