Watsco Inc (NYSE:WSO)
$ 542.84 -0.33 (-0.06%) Market Cap: 21.88 Bil Enterprise Value: 21.73 Bil PE Ratio: 42.41 PB Ratio: 8.13 GF Score: 85/100
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Q3 2019 Watsco Inc Earnings Call Transcript

Oct 17, 2019 / 02:00PM GMT
Release Date Price: $174.83 (+5.63%)
Operator

Good day and welcome to the Watsco Third Quarter 2019 Earnings Conference Call. (Operator Instructions) Please note this event is being recorded.

I would now like to turn the conference over to Albert Nahmad, CEO. Please go ahead.

Albert H. Nahmad
Watsco, Inc. - Chairman & CEO

Good morning, and welcome to Watsco's third quarter earnings call. This is Al Nahmad, Chairman and CEO and with me is A.J. Nahmad, President; Paul Johnston, Executive Vice President; and Barry Logan, Executive Vice President.

Before we start our call, our cautionary statement. This conference call has forward-looking statements as defined by SEC laws and regulations that are made pursuant to the safe harbor provisions of these various laws. Ultimate results may differ materially from the forward-looking statements.

Watsco produced another record quarter with sales, net income and earnings per share all reaching record levels. In addition, cash flow for the 9 months was also a record and we expect cash flow to exceed net income for the full year. Our 2019

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