Watsco Has Record Quarter

Watsco, Inc., a distribution network for heating, air conditioning, and refrigeration (HVAC/R) products, had sales of $1.15 billion for the fourth quarter of 2020, an increase of eight per cent compared to sales in the fourth quarter of 2019. Net income for the quarter increased by 23 per cent to $46 million compared to the year-ago period and operating profit increased 34 per cent to $70 million. The company had a nine per cent increase in sales of HVAC equipment, seven per cent sales increase in other HVAC products, and a two per cent increase in commercial refrigeration products.