Welcome to our dedicated page for Watsco news (Ticker: WSO), a resource for investors and traders seeking the latest updates and insights on Watsco stock.
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) 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.
Watsco, Inc. (NYSE: WSO) announced that Executive Vice President Barry S. Logan will present at the 2022 J.P. Morgan Industrials Conference on March 17, 2022, at 4:40 p.m. EDT. This event will be held at 383 Madison Avenue, New York City, with a live webcast available on Watsco's Investor Relations website.
Watsco is the largest distributor of HVAC/R products in North America, with a network of 671 locations visited by over 350,000 contractors and technicians annually. The company aims to address climate change through higher-efficiency replacement systems in its marketplace.
Watsco reported record fourth quarter and full-year results for 2021, with EPS up 77% to $2.02 and sales reaching $1.5 billion. For the year, EPS increased 54% to $10.78 on record sales of $6.3 billion and a 10.0% operating margin. The company also announced a 13% dividend increase to $8.80 per share. Despite challenges like supply chain disruptions, Watsco maintained a conservative balance sheet, expanded its workforce, and invested in technology and network growth. The company aims to capitalize on strong HVAC/R demand and higher efficiency systems as regulations evolve.
Watsco, Inc. (NYSE: WSO) has announced a 13% increase in its annual dividend, raising it to $8.80 per share, effective from April 2022. This decision highlights the company's robust performance and ongoing confidence in its business outlook. Watsco has maintained a consistent dividend payout for 48 consecutive years, reflecting its commitment to returning cash flow to shareholders while ensuring a conservative balance sheet. The company aims to enhance its distribution network and capitalize on opportunities in the HVAC/R market.
Watsco, Inc. (NYSE: WSO) will host a conference call on February 10, 2022, at 10:00 a.m. ET, to discuss its fourth quarter and annual financial results for 2021. The earnings report will be released before the market opens that day. Investors can access the call via the company’s website, and pre-registration is encouraged for immediate access. Watsco, the largest HVAC/R product distribution network in North America, emphasizes its commitment to sustainability and energy-efficient products to combat climate change.
Watsco, Inc. (NYSE: WSO) has declared a quarterly cash dividend of $1.95 per share, payable on January 31, 2022, to shareholders on record as of January 14, 2022. This marks 48 consecutive years of dividend payments, reflecting the company's commitment to return cash to shareholders while maintaining a robust financial position. Watsco emphasizes that future dividends will be assessed based on investment opportunities, cash flow, and economic conditions.
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