Watsco

Watsco

Watsco

American industrial company

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]

Quick Facts Company type, Traded as ...

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]
    "Watsco (WSO) Stock Price, Financials and News". Fortune 500. Archived from the original on 2019-04-18. Retrieved 2019-01-21.
  2. [2]
    "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. [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. [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. [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. [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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