Watsco reports Q3 EPS $4.35, consensus 4.27

Reports Q3 revenue $2.13B, consensus $2.05B. Albert Nahmad, Chairman and CEO commented: “We are pleased to deliver record results this quarter, a testimony to the strong execution by our leadership teams and associates. Watsco delivered record sales, profitability and operating margins, driven by improved operating efficiency. We see the potential for further productivity gains as the operational complexities of the past few years abate. Looking ahead, our confidence in our business remains strong, particularly given the proven strength of our entrepreneurial culture, substantial scale, technological advantage and financial resources. We are also pleased with the acquisition of Gateway Supply Company and we welcome their employees and customers to the Watsco family. We look forward to supporting them and their growth strategy.”