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) 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.
Watsco (NYSE: WSO) will participate in the Wolfe Transport & Industrials Conference on May 27, 2021, at 10:50 a.m. EDT. Interested parties can access the live webcast via the Investor Relations section of Watsco’s website. Watsco stands as the largest distributor of HVAC/R products across North America and Latin America, with 651 locations catering to over 300,000 contractors annually. The company aims to address climate change challenges by promoting energy-efficient systems and collaborating with OEM partners for a sustainable future.
Watsco Acquires Acme Refrigeration
Watsco, Inc. (NYSE:WSO) has completed the acquisition of Acme Refrigeration, a top HVAC/R distributor based in Louisiana, adding 18 locations across Louisiana and Mississippi. Established in 1945, Acme generated $60 million in revenue in 2020 and serves over 4,000 customers. The acquisition aligns with Watsco's ongoing 'buy-and-build' strategy, enhancing its presence in the $40 billion North American HVAC/R market. Watsco aims to support Acme's growth while maintaining its established leadership and legacy.
Watsco reported record first quarter results with a 13% sales growth to $1.14 billion and a 93% increase in EPS to $1.39. Operating income rose 1% to $82 million, while gross profit increased by 19% to $295 million. The company noted a significant uptick in customer adoption of its technology platforms, contributing to decreased attrition rates and increased market share. Investments in innovation, including its mobile apps and e-commerce platforms, resulted in substantial increases in user engagement and sales transactions. Watsco also announced a 10% rise in its annual dividend to $7.80 per share.
Watsco, Inc. (NYSE: WSO) will host a conference call on April 22, 2021, at 10:00 a.m. (EDT) to discuss its Q1 2021 financial results, which will be released before the market opens on the same day. The call will include prepared remarks from senior management followed by a Q&A session. Participants can pre-register for the call or join by dialing the provided numbers. Watsco is a leading distributor of HVAC/R products across North America and is focused on high-efficiency systems to address climate change and improve energy efficiency.
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