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 2022 Watsco Inc Earnings Call Transcript

Oct 20, 2022 / 02:00PM GMT
Release Date Price: $238.59 (-3.16%)
Operator

Good morning, and welcome to the Watsco Third Quarter 2022 Earnings Conference Call. (Operator Instructions) Please note, this event is being recorded.

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

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

Good morning, everyone. Welcome to our Third Quarter Earnings Call. This is Al Nahmad, Chairman and CEO. And with me is A.J. Nahmad, President of the company; Paul Johnston; Barry Logan; and Rick Gomez.

Before we start, our usual 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. The ultimate results may differ materially from the forward-looking statements.

Now on to the quarter. We delivered another record quarter. Sales grew 14% to a record $2.04 billion, and operating income increased 14% to a record $236 million. This third quarter performance builds on what we believe will be a record year for

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