Watsco

Watsco, Inc.
Company typePublic
NYSE: WSO
NYSE: WSO.B (Class B)
S&P 400 Component (WSO)
IndustryHVAC/R Distribution
Founded1956, Florida
Headquarters
Miami, Florida[1]
,
US
Number of locations
673 (2022)
Key people
ProductsHVAC parts and supplies
RevenueIncrease US$ 7.27 billion (2022)
Increase US$ 831.58 million (2022)
Increase US$ 703.70 million (2022)
Total assetsIncrease US$ 3.49 billion (2022)
Total equityIncrease US$ 2.25 billion (2022)
Number of employees
7,300[1] (2022)
Websitewww.watsco.com
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

1947:   The company, Wagner Tool & Supply Corp., is founded in New York
1956:   Watsco, Inc. incorporated in Florida
1963:   The company goes public
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
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
2021:   Watsco expanded its presence in the Midwest and its revenues reach US$6 billion
2022:   The company's revenues reach US$7 billion and the company was named to the Fortune 500 list

References

  1. ^ a b c "Watsco (WSO) Stock Price, Financials and News". Fortune 500. Archived from the original on 2019-04-18. Retrieved 2019-01-21.
  2. ^ a b "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.
  3. ^ Brewer, Reuben Gregg (2023-04-20). "Why Watsco Stock Rose as Much as 12% at the Open Today". The Motley Fool. Archived from the original on 2023-05-02. Retrieved 2023-05-02.
  4. ^ Samaha, Lee (2023-02-16). "Why Shares in Dividend Investors' Favorite, Watsco, Soared This Week". The Motley Fool. Archived from the original on 2023-05-02. Retrieved 2023-05-02.
  5. ^ Everitt, Neil (2021-03-16). "Carrier and Watsco combine to acquire US distributor TEC". Cooling Post. Kent, United Kingdom. Archived from the original on 2023-05-02. Retrieved 2023-05-02.
  6. ^ Brohan, Mark (2022-07-27). "Watsco, a large HVAC distributor, grows ecommerce 25%". Digital Commerce 360. Chicago, Illinois, United States: Vertical Web Media LLC. Archived from the original on 2023-05-02. Retrieved 2023-05-02.