Watsco

Short description: American industrial company

Watsco, Inc.

Type| Public

Traded as

| NYSE: WSO
NYSE: WSO.B (Class B)
S&P 400 Component (WSO)
Industry| HVAC/R Distribution
Founded| 1956, Florida
Headquarters|

Miami, Florida[1]

United States

Number of locations

| 673 (2022)

Key people

* Albert H. Nahmad[1]
* (Chairman & CEO)
* Aaron J. Nahmad
* (President)
* Ana M. Menendez
* (CFO)

Products| HVAC parts and supplies
Revenue|  US$ 7.27 billion (2022)

Operating income

|  US$ 831.58 million (2022)

Net income

|  US$ 703.70 million (2022)
Total assets|  US$ 3.49 billion (2022)
Total equity|  US$ 2.25 billion (2022)

Number of employees

| 7,300[1] (2022)
Website| www.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. ↑ 1.0 1.1 1.2 "Watsco (WSO) Stock Price, Financials and News". http://fortune.com/fortune500/watsco/.
2. ↑ 2.0 2.1 "Watsco, Inc, Form 10-K, Annual Report, Filing Date Mar 1, 2018". secdatabase.com. http://edgar.secdatabase.com/1951/119312518067229/filing-main.htm.
3. ↑ Brewer, Reuben Gregg (2023-04-20). "Why Watsco Stock Rose as Much as 12% at the Open Today" (in en). https://www.fool.com/investing/2023/04/20/why-watsco-stock-rose-as-much-as-12-at-the-open-to/.
4. ↑ Samaha, Lee (2023-02-16). "Why Shares in Dividend Investors' Favorite, Watsco, Soared This Week" (in en). https://www.fool.com/investing/2023/02/16/why-shares-in-watsco-soared-this-week/.
5. ↑ Everitt, Neil (2021-03-16). "Carrier and Watsco combine to acquire US distributor TEC" (in en-GB). Kent, United Kingdom. https://www.coolingpost.com/world-news/carrier-and-watsco-combine-to-acquire-us-distributor-tec/.
6. ↑ Brohan, Mark (2022-07-27). "Watsco, a large HVAC distributor, grows ecommerce 25%" (in en-US). Vertical Web Media LLC. https://www.digitalcommerce360.com/2022/07/27/hvac-distributor-watsco-grows-ecommerce-25/.

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