Watsco Explained

Watsco, Inc.
Type:	Public
Traded As:	(Class B) S&P 400 Component (WSO)
Location City:	Miami, Florida
Location Country:	US
Industry:	HVAC/R Distribution
Products:	HVAC parts and supplies
Num Employees:	7,300^[1]
Num Employees Year:	2022
Homepage:	www.watsco.com
Footnotes:	^[2]

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

Notes and References

Web site: Watsco (WSO) Stock Price, Financials and News . Fortune 500 . 2019-01-21 . 2019-04-18 . https://web.archive.org/web/20190418231408/http://fortune.com/fortune500/watsco/ . dead .
Web site: Watsco, Inc, Form 10-K, Annual Report, Filing Date Mar 1, 2018 . secdatabase.com . May 10, 2018 . May 11, 2018 . https://web.archive.org/web/20180511150306/http://edgar.secdatabase.com/1951/119312518067229/filing-main.htm . live .
Web site: Brewer . Reuben Gregg . 2023-04-20 . Why Watsco Stock Rose as Much as 12% at the Open Today . 2023-05-02 . . en . 2023-05-02 . https://web.archive.org/web/20230502145636/https://www.fool.com/investing/2023/04/20/why-watsco-stock-rose-as-much-as-12-at-the-open-to/ . live .
Web site: Samaha . Lee . 2023-02-16 . Why Shares in Dividend Investors' Favorite, Watsco, Soared This Week . 2023-05-02 . . en . 2023-05-02 . https://web.archive.org/web/20230502145631/https://www.fool.com/investing/2023/02/16/why-shares-in-watsco-soared-this-week/ . live .
News: Everitt . Neil . 2021-03-16 . Carrier and Watsco combine to acquire US distributor TEC . en-GB . Cooling Post . Kent, United Kingdom . 2023-05-02 . 2023-05-02 . https://web.archive.org/web/20230502145648/https://www.coolingpost.com/world-news/carrier-and-watsco-combine-to-acquire-us-distributor-tec/ . live .
Web site: Brohan . Mark . 2022-07-27 . Watsco, a large HVAC distributor, grows ecommerce 25% . 2023-05-02 . Digital Commerce 360 . Vertical Web Media LLC . en-US . Chicago, Illinois, United States . 2023-05-02 . https://web.archive.org/web/20230502142654/https://www.digitalcommerce360.com/2022/07/27/hvac-distributor-watsco-grows-ecommerce-25/ . live .