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Watsco, Inc.

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Watsco, Inc.
Public
Traded asNYSEWSO
NYSEWSO.B (Class B)
S&P 400 Component (WSO)
ISIN🆔
IndustryHVAC/R Distribution
Founded 📆1956, Florida
Founder 👔
Headquarters 🏙️, ,
Number of locations
671 (2021)
Area served 🗺️
Key people
Albert H. Nahmad
(Chairman & CEO)
Aaron J. Nahmad
(President)
Ana M. Menendez
(CFO)
Products 📟 HVAC parts and supplies
Revenue🤑 Increase US$ 6.28 billion (2021)
Increase US$ 628.53 million (2021)
Increase US$ 498.74 million (2021)
Total assetsIncrease US$ 3.09 billion (2021)
Total equityIncrease US$ 2.00 billion (2021)
Members
Number of employees
6,900[1] (2021)
🌐 Websitewww.watsco.com
📇 Address
📞 telephone
Footnotes / references
[2][better source needed]

Watsco, Inc. is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the United States.[2] Watsco was founded more than 60 years ago as a manufacturer of parts, components, and tools used in the HVAC/R industry. In 1989, the company shifted from manufacturing to distribution, by acquiring Gemaire Distributors Inc., a South Florida-based Rheem distributor.[3][4][5][6]

Key dates[edit]

1947:   The company, Wagner Tool & Supply Corp., is founded in New York
1956:   Watsco, Inc. incorporated in Florida
1963:   The company goes public
1968:   Watsco joins the American Stock Exchange
1972:   Albert H. Nahmad becomes chairman, president and CEO
1989:   Watsco acquires an 80% interest in Gemaire in Florida and shifts focus to distribution
1990:   The company acquires a 50.5% interest in Heating & Cooling Supply in California
1993:   Watsco acquires an 80% interest in Comfort Supply in Texas
1994:   Watsco moves to the New York Stock Exchange
1996:   Watsco purchases minority interests of Gemaire, Heating & Cooling & Comfort Supply
1997:   The company acquires locations from Carrier and ICP; enters refrigeration market
1998:   Watsco sells its manufacturing operation; revenues reach US$1 billion
2005:   The company acquires East Coast Metal Distributors, a distributor of Goodman products
2009:   Watsco forms first joint venture with Carrier Corporation; revenues reach US$2 billion
2011:   The company enters Mexico
2012:   Watsco enters Canada and revenues exceed US$3 billion
2015:   The company's revenues reach US$4 billion
2019:   Watsco expanded its presence in the Northeast
2020:   The company's revenues reach US$5 billion

References[edit]

  1. "Watsco". Fortune. Archived from the original on 2019-01-21. Retrieved 2019-01-21. Unknown parameter |url-status= ignored (help)
  2. 2.0 2.1 "Watsco, Inc, Form 10-K, Annual Report, Filing Date Mar 1, 2018". secdatabase.com. Archived from the original on May 11, 2018. Retrieved May 10, 2018. Unknown parameter |url-status= ignored (help)
  3. Brewer, Reuben Gregg (2023-04-20). "Why Watsco Stock Rose as Much as 12% at the Open Today". The Motley Fool. Retrieved 2023-05-02.
  4. Samaha, Lee (2023-02-16). "Why Shares in Dividend Investors' Favorite, Watsco, Soared This Week". The Motley Fool. Retrieved 2023-05-02.
  5. Everitt, Neil (2021-03-16). "Carrier and Watsco combine to acquire US distributor TEC". Cooling Post. Retrieved 2023-05-02.
  6. Brohan, Mark (2022-07-27). "Watsco, a large HVAC distributor, grows ecommerce 25%". Digital Commerce 360. Retrieved 2023-05-02.


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