What do you think about WSO’s windfall in working capital this last quarter? Does that change the free cash flow profile permanently?

Looks like WSO has a historical negative working capital profile…which surprised me. Why do you think that is? Are manufacturers selling on consignment through their distribution network?

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Posted by JAMIE KRASNOV (Questions: 1, Answers: 0)
Asked on September 23, 2020 10:14 pm
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I don't see the negative w/c you're referring to. Looking at it quickly, working cap (Receivables + Inventory - Payables) was $1.2bn at YE19, +7% from 2018.

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Posted by Jay Hedstrom (Questions: 0, Answers: 1)
Answered on October 7, 2020 2:28 pm