Watsco GAAP EPS of $3.98 misses by $0.31, revenue of $2.07B misses by $70M

* Watsco press release [https://seekingalpha.com/pr/20283986-watsco-reports-record-third-quarter-gross-profit-gross-margin-and-operating-cash-flow-in] (WSO [https://seekingalpha.com/symbol/WSO]): Q3 GAAP EPS of $3.98 misses by $0.31.
* Revenue of $2.07B (-4.2% Y/Y) misses by $70M.
* Gross profit of $569 million was flat compared to last year
* Gross profit margin expanded 130 basis-points to a record 27.5%
* SG&A expenses increased 5%
* Operating income decreased 6% to $235 million (operating margin of 11.4% versus 11.6% last year)
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