USA: Watsco, the world’s largest HVACR equipment distributor, has reported record second quarter and first-half operating results for the periods ended June 30.
Q2 sales grew 36% to a record $1.85bn, while operating income was up 68% to a record $217m.
Building on solid Q1 figures, the half year results show a 26% sales growth to a record $2.99bn and a record operating income of $299m, up 71% on the same period in 2020.
Complementing its record organic growth, Watsco invested in future growth and expanded its network during the second quarter with the acquisition of Temperature Equipment Corporation and Acme Refrigeration of Baton Rouge.
E-Commerce sales grew substantially in the second quarter, up 28% compared to Q2 in 2020, taking annual internet sales to over $1.7bn.