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, Inc. (NYSE: WSO) reported record third quarter and nine-month results for 2021, achieving significant increases in sales and profits. Key highlights include:
- 31% increase in EPS to $3.62
- 16% sales growth to $1.78 billion
- 32% rise in operating income to $207 million
- 29% growth in gross profit to $483 million
The company also invested heavily in technology and expanded its branch network, completing three acquisitions worth $114 million to enhance customer experience and operational efficiency.
Watsco, Inc. (NYSE: WSO) will host a conference call on October 20, 2021, at 10:00 a.m. EDT to discuss its third quarter financial results. The earnings report will be released before market opening on the same day. Investors can pre-register for the call for immediate access, while those who do not pre-register can dial in five to ten minutes early. Watsco operates as a leading distributor of HVAC/R products across North America and has plans to enhance energy efficiency offerings in response to climate change initiatives.
Watsco, Inc. has declared a quarterly cash dividend of $1.95 per share, marking the 47th consecutive year of dividend payments. This dividend is payable on October 29, 2021, to shareholders on record by October 15, 2021. The company aims to share increasing cash flow with its shareholders while maintaining a conservative financial strategy. Watsco operates the largest distribution network for HVAC/R products across North America and Latin America, emphasizing the importance of energy-efficient systems as part of its long-term sustainability goals.
Watsco, Inc. (NYSE: WSO) will have Executive Vice President Barry Logan present at the Morgan Stanley 2021 Virtual Laguna Conference on September 14, 2021, at 4:30 p.m. EDT. Investors can tune into the live webcast at Watsco’s Investor Relations webpage. Watsco is recognized as the largest distribution network for HVAC/R products, catering to over 350,000 contractors and technicians annually across multiple locations including the U.S., Canada, and Mexico. The company aims to participate actively in addressing climate change through energy-efficient HVAC/R solutions.
Watsco (NYSE: WSO) announced that Rick Gomez, Vice President of Corporate Development, will present at the Jefferies 2021 Virtual Industrials Conference on August 3, 2021, at 1:00 p.m. EDT. The presentation will be available via live webcast on Watsco's Investor Relations page.
As the largest distributor of HVAC/R products in North America, Watsco operates over 655 locations, serving over 350,000 contractors annually. The company is committed to improving energy efficiency and addressing climate change through collaboration with OEM partners.
Watsco (WSO) reported record second quarter and first-half results for 2021, with sales reaching $1.85 billion and $2.99 billion respectively. The company achieved a 64% increase in EPS to $3.71 and a 68% rise in operating income to $217 million. The firm's technology investments have enhanced customer engagement, with notable growth in mobile and e-commerce platforms. Recent acquisitions, Temperature Equipment Corporation and Acme Refrigeration, are expected to bolster future growth. Watsco maintains a low debt-to-capitalization ratio of 6%, reflecting a conservative financial strategy.
Watsco, Inc. (NYSE: WSO) will host a conference call on July 22, 2021, at 10:00 a.m. (EDT) to discuss its Q2 financial results. The earnings report will be released before the market opens on the same day. Investors can pre-register for the call to receive a unique PIN for immediate access. The conference call will also be web-cast, providing an opportunity for stakeholders to engage with management. Watsco, a leading distributor of HVAC/R products, operates 651 locations across the U.S., Canada, Mexico, and Puerto Rico, serving over 300,000 contractors each year.
Watsco, Inc. (NYSE: WSO) has declared a quarterly cash dividend of $1.95 per share, marking its 47th consecutive year of dividend payments. This dividend will be payable on July 30, 2021, to shareholders of record by the close of business on July 15, 2021. Watsco emphasizes a commitment to share cash flow with shareholders while maintaining a conservative financial position. The company operates the largest HVAC/R distribution network across the US, Canada, Mexico, and the Caribbean, and aims to contribute to climate change solutions with energy-efficient products.
Watsco, Inc. (NYSE: WSO) has announced new appointments to its Advisory Board, which was formed in 2019 to provide strategic advice to the Board of Directors. The new members include Ana Lopez-Blazquez, LeShelle May, Lorna Meyer, and Troy Rice, who bring diverse expertise in strategy, technology, wealth management, and energy services. Chairman and CEO Albert Nahmad emphasized the board's role in addressing climate change through energy-efficient HVAC systems. Watsco aims to enhance its leadership in the HVAC/R market while contributing to sustainability efforts.
Watsco (NYSE: WSO) announced that Barry Logan, Executive Vice President, will present at the William Blair 41st Annual Growth Stock Conference on June 2, 2021, at 12:20 p.m. EDT. The presentation will be accessible via live webcast on Watsco's Investor Relations website.
Watsco is the largest HVAC/R distribution network in North America, with a strong commitment to improving energy efficiency in older systems. The company serves over 300,000 contractors and aims to contribute to climate change solutions.
FAQ
What is the current stock price of Watsco (WSO)?
What is the market cap of Watsco (WSO)?
What does Watsco, Inc. do?
Where does Watsco primarily operate?
How many locations does Watsco have?
Who are Watsco’s customers?
What are the main product segments of Watsco?
When did Watsco enter the distribution segment?
How many employees does Watsco have?
What percentage of Watsco’s revenue comes from the U.S.?
How does Watsco contribute to industry growth?
