WATSCO, INC. AND SUBSIDIARIES

SELECTED QUARTERLY FINANCIAL DATA

(UNAUDITED)


*(In thousands, except per share data)*	1st Quarter		2nd Quarter		3rd Quarter		4th Quarter		Total
Year Ended December 31, 2017
Revenues (1)	$	872,095	$	1,275,924	$	1,229,591	$	964,345	$	4,341,955
Gross profit	$	218,556	$	310,278	$	295,895	$	240,930	$	1,065,659
Net income attributable to Watsco, Inc.	$	26,181	$	73,756	$	65,029	$	43,255	$	208,221

Earnings per share for Common and Class B common stock (2):
Basic	$	0.71	$	2.07	$	1.82	$	1.19	$	5.81

Diluted	$	0.71	$	2.07	$	1.82	$	1.19	$	5.81

Year Ended December 31, 2016
Revenues (1)	$	851,424	$	1,214,435	$	1,241,232	$	913,611	$	4,220,702
Gross profit	$	212,447	$	291,861	$	302,204	$	228,072	$	1,034,584
Net income attributable to Watsco, Inc.	$	25,537	$	64,621	$	63,099	$	29,553	$	182,810

Earnings per share for Common and Class B common stock (2):
Basic	$	0.71	$	1.82	$	1.78	$	0.81	$	5.16

Diluted	$	0.71	$	1.82	$	1.78	$	0.81	$	5.15

(1)

Sales of residential central air conditioners, heating equipment and parts and supplies are seasonal. Demand related to the residential central air conditioning replacement market is typically highest in the second and third quarters, and demand for heating equipment is usually highest in the fourth quarter. Demand related to the new construction sectors throughout most of the markets is fairly evenly distributed throughout the year except for dependence on housing completions and related weather and economic conditions.

(2)	Quarterly and year-to-date earnings per share are calculated on an individual basis; therefore, the sum of earnings per share amounts for the quarters may not equal earnings per share amounts for the year.