Watsco, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 01, 2023 at 07:30 am EDT
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Watsco, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 2,003.08 million compared to USD 2,133.76 million a year ago. Net income was USD 172.76 million compared to USD 192.56 million a year ago. Diluted earnings per share from continuing operations was USD 4.42 compared to USD 4.93 a year ago.
For the six months, sales was USD 3,553.73 million compared to USD 3,657.33 million a year ago. Net income was USD 282.84 million compared to USD 305.86 million a year ago. Diluted earnings per share from continuing operations was USD 7.25 compared to USD 7.83 a year ago.
Watsco, Inc. is engaged in the distribution of air conditioning, heating and refrigeration equipment and related parts and supplies (HVAC/R) with locations in the United States, Canada, Mexico, and Puerto Rico, and on an export basis to Latin America and the Caribbean. The Company sells products to the commercial refrigeration market, which include condensing units, compressors, evaporators, valves, refrigerants, walk-in coolers, and ice machines for industrial and commercial applications. It also sells a variety of non-equipment products including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats, and air quality products. It distributes products manufactured by Flexible Technologies, Inc. (Flexible Technologies), Resideo Technologies, Inc. (Resideo), Copeland Corporation, LLC, The Chemours Company (Chemours), Mueller Industries, Inc. (Mueller), and Welbilt, Inc. (Welbilt), among others. The Company operates in approximately 692 locations.
WATSCO, INC. 
