From GlobeNewswire: 2024-07-30 07:30:00

Watsco, Inc. (NYSE: WSO) reported record revenue of $2.1 billion in the second quarter of 2024, a 7% increase. Gross profit reached $580 million, with operating income of $269 million. Over the last five years, Watsco has made eight acquisitions generating $1 billion in annual sales. Continued customer adoption of industry-leading technologies is a key growth driver.

In the first half of 2024, Watsco recorded $3.7 billion in revenue, a 4% increase. Gross profit was $1 billion, with operating income of $395 million. The company’s e-commerce sales grew 13%, outpacing overall sales growth. Watsco believes its unique technology investments and industry catalysts position it favorably for long-term growth.

Watsco has developed industry-leading technologies that enhance the customer experience and drive growth. Through platforms like HVAC Pro+ and OnCallAir®, the company enables above-market growth for customers, with e-commerce sales accounting for 36% of total sales. Watsco’s technology investments are expected to drive future growth and profitability, along with industry-driven catalysts like regulatory changes and electrification trends.



Read more at GlobeNewswire:: Watsco Reports Record Sales, Enhanced Operating Efficiency