View source for Watsco

{{Short description|American industrial company}}
{{Notability|corp|date=March 2023}}
{{Infobox company
| name = Watsco, Inc.
| logo = [[File:Watsco logo.jpg]]
| type = [[Public company|Public]]
| traded_as = {{NYSE|WSO}}<br>{{NYSE|WSO.B}} (Class B)<br>[[List of S&P 400 companies|S&P 400 Component]] (WSO)
| foundation = {{nowrap|1956, [[Florida]]}}
| location_city = [[Miami]], [[Florida]]<ref name="F500" />
| location_country = [[United States|US]]
| key_people = {{unbulleted list |{{nowrap|Albert H. Nahmad}}<ref name="F500" /> |{{nowrap|<small>([[Chairman#Public corporations|Chairman]] & [[CEO]])</small>}} |{{nowrap|Aaron J. Nahmad}} |{{nowrap|<small>([[President (corporate title)|President]])</small>}} |{{nowrap|Ana M. Menendez}} |{{nowrap|<small>([[CFO]])</small>}}}}
| industry = [[HVAC]]/R Distribution
| products = [[HVAC]] parts and supplies
| revenue = {{nowrap|{{increase}} [[US$]] 7.27 billion <small>(2022)</small>}}
| operating_income = {{nowrap|{{increase}} [[US$]] 831.58 million <small>(2022)</small>}}
| net_income = {{nowrap|{{increase}} [[US$]] 703.70 million <small>(2022)</small>}}
| assets = {{nowrap|{{increase}} [[US$]] 3.49 billion <small>(2022)</small>}}
| equity = {{nowrap|{{increase}} [[US$]] 2.25 billion <small>(2022)</small>}}
| num_employees = 7,300<ref name="F500">{{Cite web |url=http://fortune.com/fortune500/watsco/ |title=Watsco (WSO) Stock Price, Financials and News |website=Fortune 500 |access-date=2019-01-21 |archive-date=2019-04-18 |archive-url=https://web.archive.org/web/20190418231408/http://fortune.com/fortune500/watsco/ |url-status=dead }}</ref>
| num_employees_year = 2022
| locations = {{nowrap|673 <small>(2022)</small>}}
| homepage = [http://www.watsco.com/ www.watsco.com]
| footnotes = <ref name="Watsco,-Inc-Mar-2018-10-K">{{cite web |url=http://edgar.secdatabase.com/1951/119312518067229/filing-main.htm |title=Watsco, Inc, Form 10-K, Annual Report, Filing Date Mar 1, 2018 |publisher=secdatabase.com |access-date=May 10, 2018 |archive-date=May 11, 2018 |archive-url=https://web.archive.org/web/20180511150306/http://edgar.secdatabase.com/1951/119312518067229/filing-main.htm |url-status=live }}</ref>{{bsn|date=March 2023}}
}}
'''Watsco, Inc.''' is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies ([[HVAC]]/R) in the United States.<ref name="Watsco,-Inc-Mar-2018-10-K"/> 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 Manufacturing Company|Rheem]] distributor.<ref>{{Cite web |last=Brewer |first=Reuben Gregg |date=2023-04-20 |title=Why Watsco Stock Rose as Much as 12% at the Open Today |url=https://www.fool.com/investing/2023/04/20/why-watsco-stock-rose-as-much-as-12-at-the-open-to/ |access-date=2023-05-02 |website=[[The Motley Fool]] |language=en |archive-date=2023-05-02 |archive-url=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/ |url-status=live }}</ref><ref>{{Cite web |last=Samaha |first=Lee |date=2023-02-16 |title=Why Shares in Dividend Investors' Favorite, Watsco, Soared This Week |url=https://www.fool.com/investing/2023/02/16/why-shares-in-watsco-soared-this-week/ |access-date=2023-05-02 |website=[[The Motley Fool]] |language=en |archive-date=2023-05-02 |archive-url=https://web.archive.org/web/20230502145631/https://www.fool.com/investing/2023/02/16/why-shares-in-watsco-soared-this-week/ |url-status=live }}</ref><ref>{{Cite news |last=Everitt |first=Neil |date=2021-03-16 |title=Carrier and Watsco combine to acquire US distributor TEC |language=en-GB |website=Cooling Post |location=Kent, United Kingdom |url=https://www.coolingpost.com/world-news/carrier-and-watsco-combine-to-acquire-us-distributor-tec/ |access-date=2023-05-02 |archive-date=2023-05-02 |archive-url=https://web.archive.org/web/20230502145648/https://www.coolingpost.com/world-news/carrier-and-watsco-combine-to-acquire-us-distributor-tec/ |url-status=live }}</ref><ref>{{Cite web |last=Brohan |first=Mark |date=2022-07-27 |title=Watsco, a large HVAC distributor, grows ecommerce 25% |url=https://www.digitalcommerce360.com/2022/07/27/hvac-distributor-watsco-grows-ecommerce-25/ |access-date=2023-05-02 |website=Digital Commerce 360 |publisher=Vertical Web Media LLC |language=en-US |publication-place=Chicago, Illinois, United States |archive-date=2023-05-02 |archive-url=https://web.archive.org/web/20230502142654/https://www.digitalcommerce360.com/2022/07/27/hvac-distributor-watsco-grows-ecommerce-25/ |url-status=live }}</ref>
== Key dates ==
{{Unreferenced section|date=March 2023}}
'''1947:''' {{pad|1em}} The company, Wagner Tool & Supply Corp., is founded in New York<br />
'''1956:''' {{pad|1em}} Watsco, Inc. incorporated in Florida<br />
'''1963:''' {{pad|1em}} The company goes public<br />
'''1972:''' {{pad|1em}} Albert H. Nahmad becomes chairman, president and CEO<br />
'''1989:''' {{pad|1em}} Watsco acquires an 80% interest in Gemaire in Florida and shifts focus to distribution<br />
'''1990:''' {{pad|1em}} The company acquires a 50.5% interest in Heating & Cooling Supply in California<br />
'''1993:''' {{pad|1em}} Watsco acquires an 80% interest in Comfort Supply in Texas<br />
'''1996:''' {{pad|1em}} Watsco purchases minority interests of Gemaire, Heating & Cooling & Comfort Supply<br />
'''1997:''' {{pad|1em}} The company acquires locations from Carrier and ICP; enters refrigeration market <br />
'''1998:''' {{pad|1em}} Watsco sells its manufacturing operation; revenues reach US$1 billion<br />
'''2005:''' {{pad|1em}} The company acquires East Coast Metal Distributors, a distributor of Goodman products<br />
'''2009:''' {{pad|1em}} Watsco forms first joint venture with Carrier Corporation; revenues reach US$2 billion<br />
'''2011:''' {{pad|1em}} The company enters Mexico<br />
'''2012:''' {{pad|1em}} Watsco enters Canada and revenues exceed US$3 billion<br />
'''2015:''' {{pad|1em}} The company's revenues reach US$4 billion<br />
'''2019:''' {{pad|1em}} Watsco expanded its presence in the Northeast<br />
'''2020:''' {{pad|1em}} The company's revenues reach US$5 billion<br />
'''2021:''' {{pad|1em}} Watsco expanded its presence in the Midwest and its revenues reach US$6 billion<br />
'''2022:''' {{pad|1em}} The company's revenues reach US$7 billion and the company was named to the Fortune 500 list
== References ==
<!--- See [[Wikipedia:Footnotes]] on how to create references using <ref></ref> tags which will then appear here automatically -->
{{Reflist|30em}}
{{S&P 400 companies}}
{{Authority control}}
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Companies based in Miami]]
[[Category:1947 establishments in the United States]]
[[Category:Companies in the S&P 400]]