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Watsco, Inc. (NYSE: WSO) is the largest distributor of heating, air conditioning, and refrigeration (HVAC/R) products in North America. Established over 50 years ago, Watsco transitioned from manufacturing HVAC/R components to distribution in 1989, emerging as an industry leader. The company operates 507 locations across 36 states, Puerto Rico, Latin America, and the Caribbean. As of 2023, Watsco generates 90% of its revenue from the U.S., with additional operations in Canada and Latin America, each contributing 5% to sales.
With a robust network of 4,000 employees, Watsco supports over 125,000 contractors who provide essential HVAC/R installation, repair, and replacement services. The company’s extensive product range meets the needs of four key industry segments:
- Air Conditioners, Furnaces, and Related Parts: Accounting for 50% of their offerings.
- Air Movement Products: Including ductwork and insulation, contributing 25%.
- Controls: Such as thermostats and air treatment systems, comprising 15%.
- Refrigeration Products: Making up 10% of their inventory.
Watsco’s significant presence in the HVAC/R market, particularly in the Sunbelt states, positions it strategically to capitalize on growth opportunities. The company’s entrepreneurial culture, industry scale, and technological transformation efforts contribute to strong margins and sustained long-term growth. Watsco’s commitment to innovation and regulatory compliance ensures it remains a pivotal player in the HVAC/R industry.
Recent achievements highlight Watsco’s dynamic approach and continuous evolution. For the latest updates, you can pre-register for events here and here.
Watsco (NYSE: WSO) announced that Vice President Rick Gomez will present at the Jefferies Industrial Conference on August 9, 2022, at 10:30 a.m. EDT. Interested investors can access the live webcast on Watsco’s website. The company is the largest HVAC/R distribution network in North America, with over 673 locations across the U.S., Canada, Mexico, and Puerto Rico. Watsco plays a crucial role in combating climate change by promoting high-efficiency HVAC systems, which significantly reduce energy consumption. The company has reportedly averted 12.9 million metric tons of CO2e emissions from 2020 to mid-2022.
Watsco, Inc. (NYSE: WSO) announced a 33% increase in EPS to a record $4.93 for Q2 2022, supported by record sales of $2.13 billion and a 25% growth in gross profit. The company's operating income rose by 32% to $287 million. Watsco gained approximately 260 basis points of market share over the last three years, attributing its success to investments in technology and strong financial fundamentals. However, the company anticipates moderation in HVAC/R demand trends due to recent economic shifts. The annual dividend is now set at $8.80 per share.
Watsco, Inc. (NYSE: WSO) has announced a conference call to discuss its Q2 2022 financial results on July 26, 2022, at 10:00 a.m. EDT. The earnings report will be released before the market opens. Investors can pre-register for the call for immediate access. Watsco, the largest HVAC/R distribution network in North America, is actively involved in reducing CO2 emissions through higher-efficiency HVAC systems. The company has reportedly averted an estimated 11.4 million metric tons of CO2 emissions from January 2020 to March 2022 by selling these systems.
Watsco has declared a quarterly cash dividend of $2.20 per share, marking its 48th consecutive year of paying dividends. The dividend will be paid on July 29, 2022, to shareholders of record by the close of business on July 15, 2022. The company emphasizes its commitment to providing increasing cash flow to shareholders while maintaining a conservative balance sheet. Watsco plays a crucial role in the HVAC/R distribution sector and aims to reduce CO2e emissions through higher-efficiency HVAC system sales, which could save homeowners costs and enhance sustainability.
Watsco (NYSE: WSO) announced that Barry Logan, Executive Vice President, will present at the William Blair 42nd Annual Growth Stock Conference on June 9, 2022, at 8:00 a.m. CDT. The presentation can be accessed via a live webcast on Watsco's Investor Relations website. Watsco operates the largest HVAC/R distribution network, serving over 350,000 contractors and technicians annually across North America and beyond. The company aims to contribute to climate change mitigation by promoting energy-efficient HVAC systems, having averted an estimated 11.4 million metric tons of CO2e emissions from 2020 to 2022.
Watsco (NYSE: WSO) announced that Barry Logan, Executive Vice President, will present at Baird's Global Consumer, Technology & Services Conference on June 7, 2022, at 11:25 a.m. (EDT). Interested individuals can access a live webcast via Watsco's Investor Relations website. Watsco is the leading distributor of HVAC/R products across North America, serving over 350,000 contractors annually through 671 locations. The company is committed to combating climate change by promoting high-efficiency HVAC systems, averting an estimated 11.4 million metric tons of CO2e emissions from 2020 to March 2022.
Watsco (NYSE: WSO) will have Executive Vice President Barry Logan present at the Wolfe Global Transportation & Industrials Conference on May 24, 2022, at 9:45 a.m. EDT. A live webcast of the event will be available on Watsco's Investor Relations website. As the largest distribution network for HVAC/R products in the Americas, Watsco plays a critical role in reducing energy consumption and CO2 emissions. Since January 2020, the company has reportedly helped avoid 11.4 million metric tons of CO2 emissions through the sale of high-efficiency HVAC systems.
Watsco (NYSE: WSO) reported a record 34% sales growth for Q1 2022, reaching $1.52 billion, with a 109% increase in EPS to $2.90. Operating income rose 109% to $171 million, reflecting a 400 basis point margin expansion. Gross profit increased 53% to $450 million. The company raised its annual dividend by 13% to $8.80, effective April 2022, driven by strong demand, technology adoption, and operational efficiencies despite inflation and supply chain challenges. Watsco continues to invest in transformative technologies to enhance customer experience and market share.
Watsco, Inc. (NYSE: WSO) is set to host a conference call on April 21, 2022, at 10:00 a.m. EDT to discuss its Q1 2022 financial results. The earnings will be released before market open that day, followed by a Q&A session with senior management. Investors can pre-register for the call, which will be available via webcast on Watsco's website. As the largest distributor of HVAC/R products in North America, Watsco continues to address climate change through energy-efficient systems, reinforcing its market position and long-term growth potential.
Watsco, Inc. (WSO) has declared a quarterly cash dividend of $2.20 per share on its Common and Class B common stock, payable on April 29, 2022, to shareholders on record as of April 14, 2022. This marks the 48th consecutive year of dividend payments, reflecting the company's commitment to sharing cash flow while maintaining a conservative balance sheet. Watsco, as the largest distributor of HVAC/R products, aims to address climate change through energy-efficient solutions in its market.
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