Continued strong demand from consumers and improving demand from commercial clients resulted in most publicly traded HVAC-related businesses reporting strong results in the second quarter, with some setting new records. Both company executives and Wall Street analysts expect this performance to continue for the near future, driven by trends in both lifestyle and customer concerns.
HVAC distributor Watsco Inc. reported record second quarter operating results, establishing new records for sales, operating income, operating margin, and net income. Company executives attribute much of this strength to the distributor’s investment in e-commerce. Watsco also acquired two businesses in the second quarter — Temperature Equipment Corp. and Acme Refrigeration of Baton Rouge — to expand its geographic reach.