Watsco reports Q3 EPS $4.22, consensus $4.73

Reports Q3 revenue $2.16B, consensus $2.24B. Albert H. Nahmad, Chairman and CEO commented: “During the third quarter, Watsco (WSO) achieved record sales and net income, produced strong cash flow and made further strides to improve operating efficiency across its network. We believe the market environment for HVAC products stabilized this year, and we look forward to helping our customers navigate next year’s regulatory transition toward the new A2L systems. This regulatory change will ultimately impact approximately 60% of our sales and offers our contractor customers the opportunity to upgrade older HVAC systems with new products that are both more energy-efficient and environmentally-friendly.”