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Home » Distribution Industry News » Watsco Sales Grow 34% in 1Q 2022 

Date

  • Published on: April 26, 2022

Author

  • Jonathan Bein Jonathan Bein

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Distribution Industry News

Watsco Sales Grow 34% in 1Q 2022 

Watsco, Inc. (NYSE: WSO), reported sales grew 34% in the first quarter 2022 to $1.52 billion. Net income was $113 million.  

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“Watsco delivered exceptional performance during the first quarter. The company achieved strong performance across all geographic markets and product categories and reflects a combination of strong unit growth, our ability to capture increased cost of goods through higher selling prices, a richer mix of high-efficiency systems and what, we believe, are technology-driven gains in market share,” Watsco Chairman and CEO Albert H. Nahmad said. 

Same-store growth was seen across all segments: 

  • 26% growth in HVAC equipment 
  • 24% increase in other HVAC products 
  • 35% increase in commercial refrigeration products  

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