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) maintains North America's largest HVAC/R distribution network, serving contractors across residential and commercial markets. This news hub provides investors and industry professionals with direct access to official corporate announcements and market developments.
Track critical updates including quarterly earnings disclosures, strategic partnerships, and product line expansions. Our curated feed ensures timely access to operational milestones, leadership changes, and regulatory compliance information relevant to the HVAC distribution sector.
Key focus areas include supply chain innovations, sustainability initiatives, and technology adoption within Watsco's contractor network. Bookmark this page for efficient monitoring of inventory management advancements and market share developments across the company's 675+ locations.
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.
Watsco Completes Acquisition of Temperature Equipment Corporation
Watsco, Inc. (NYSE: WSO) finalized the acquisition of Temperature Equipment Corporation (TEC), adding $291 million in sales and expanding its presence with 32 locations across several states. Founded in 1935, TEC services around 10,000 HVAC customers and offers a wide range of HVAC solutions from Carrier. The joint venture, where Watsco owns 80% and Carrier 20%, aims to fuel TEC's growth while leveraging Watsco's innovative technologies. This acquisition supports Watsco’s strategy to enhance its industry leadership within the HVAC sector.
Watsco Declares Quarterly Dividend
On April 1, 2021, Watsco, Inc. (NYSE: WSO) announced a quarterly cash dividend of $1.95 per share, payable on April 30, 2021, to shareholders of record by April 15, 2021. This follows a 10% increase in its annual dividend rate to $7.80 per share, announced in February 2021, stemming from a record operating cash flow in 2020. Watsco maintains a commitment to sharing cash flow with shareholders and has consistently paid dividends for 47 years.
