Watsco reported a 2% increase in sales, reaching a record $2.16 billion for the third quarter of 2024. The company's net income remained flat at $171 million, and earnings per share declined by 3% to $4.22. The company sees potential for further improving productivity and is gratified that its focus on the balance sheet has produced record cash flow.
Sales increased 2% to a record $2.16 billion (flat on a same-store basis).
Operating income decreased 2% to $250 million (11.6% operating margin).
Net income attributable to Watsco was $171 million, flat versus last year.
Earnings per share declined 3% to $4.22.
Watsco believes the market environment for HVAC products stabilized this year, and they look forward to helping their customers navigate next year’s regulatory transition toward the new A2L systems.
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