Watsco

American industrial company

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|

Watsco, Inc.

Company 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]

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

[edit]

This section does not cite any sources. Please help improve this section by adding citations to reliable sources. Unsourced material may be challenged and removed. (March 2023) (Learn how and when to remove this message)

|

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

2025: Watsco Acquires Southern Ice Equipment Distributors

## References

[edit]

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.

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