Watsco

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, US
Number of locations	671 (2021)
Key people	Albert H. Nahmad; (Chairman & CEO); Aaron J. Nahmad; (President); Ana M. Menendez; (CFO)
Products	HVAC parts and supplies
Revenue	US$ 6.28 billion (2021)
Operating income	US$ 628.53 million (2021)
Net income	US$ 498.74 million (2021)
Total assets	US$ 3.09 billion (2021)
Total equity	US$ 2.00 billion (2021)
Number of employees	6,900[1] (2021)
Website	www.watsco.com
	Footnotes / references; [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.

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
1968: Watsco joins the American Stock Exchange
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
1994: Watsco moves to the New York Stock Exchange
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

References

"Watsco". Fortune. Archived from the original on 2019-01-21. Retrieved 2019-01-21.
"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.

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[1] "Watsco". Fortune. Archived from the original on 2019-01-21. Retrieved 2019-01-21.

[Watsco,-Inc-Mar-2018-10-K-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.