The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Patrick Michael Baumann - JPMorgan Chase & Co, Research Division - Analyst
: I had a quick one -- quite a few actually. But in the press release, you mentioned that unit volumes are adjusting to more conventional run rates.
But what was meant by that comment? Maybe that's a Barry question.
Question: Patrick Michael Baumann - JPMorgan Chase & Co, Research Division - Analyst
: Yes, we are -- we'll be coming down there soon, we will.
Question: Patrick Michael Baumann - JPMorgan Chase & Co, Research Division - Analyst
: Makes sense. And then switching gears on HVAC products sales. Can you talk through what you're seeing there? The decline in the first quarter
was modest. But just kind of curious if you could parse that out a little bit, whether it's volume or price or however you want to talk about it. I know
there's a lot of stuff within that subset of sales? Just kind of curious if you could talk about that subset.
Question: Patrick Michael Baumann - JPMorgan Chase & Co, Research Division - Analyst
: Yes. Just want to talk a little bit about HVAC product sales, not the equipment side, the product subset of sales. So it was down 2% in the quarter.
Anything you could talk about, whether it's volume or price or specific product categories, however you can talk to what's going on in that segment.
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APRIL 20, 2023 / 2:00PM, WSO.N - Q1 2023 Watsco Inc Earnings Call
Question: Patrick Michael Baumann - JPMorgan Chase & Co, Research Division - Analyst
: Understood. And then the last one is just on the M&A pipeline. Like maybe if you could talk about how you guys are feeling about the M&A space
these days, seller expectations, maybe hold that -- but maybe market uncertainty holds that back a bit. Any color you can give on that?
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