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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]
 | |
| Company type | Public |
|---|---|
| NYSE: WSO NYSE: WSO.B (Class B) S&P 400 Component (WSO) | |
| Industry | HVAC/R Distribution |
| Founded | 1956, Florida |
| Headquarters | , |
Number of locations | 673 (2022) |
Key people | |
| Products | HVAC parts and supplies |
| Revenue |  US$ 7.27 billion (2022) |
| US$ 831.58 million (2022) | |
| 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] | |
Key dates
edit1947: 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
edit- ^ a b c "Watsco (WSO) Stock Price, Financials and News". Fortune 500. Archived from the original on 2019-04-18. Retrieved 2019-01-21.
- ^ 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.
- ^ 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.
- ^ 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.
- ^ 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.
- ^ 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.