Watsco Stock Price, News & Analysis

Watsco, Inc. (NYSE: WSO) declared a quarterly cash dividend of $2.45 per share, payable on April 28, 2023, to shareholders of record by April 17, 2023. This marks the 49th consecutive year of dividend payments, as Watsco continues to prioritize sharing cash flow with shareholders while maintaining a conservative financial approach. The company plays a crucial role in combating climate change by selling high-efficiency HVAC systems, which have reportedly averted 15.8 million metric tons of CO2e emissions since 2020, equating to the removal of approximately 3.4 million gas-powered vehicles from the road.

Watsco, Inc. (NYSE: WSO) has secured a $600 million unsecured revolving credit facility, replacing its previous $560 million facility. This new five-year agreement, led by Bank of America, aims to support working capital, acquisitions, dividends, and other general purposes while bearing interest linked to the Secured Overnight Financing Rate (SOFR). The facility offers increased borrowing capacity and covenant flexibility, catering to Watsco's seasonal working capital needs. CEO Albert H. Nahmad emphasized the importance of low-cost debt for growth, while the company's distribution network remains vital for HVAC systems that help reduce CO2 emissions and enhance energy efficiency.

Watsco (NYSE: WSO) announced that Barry Logan, Executive Vice President, will present at J.P. Morgan's 2023 Industrials Conference on March 15, 2023, at 9:40 a.m. (EDT). The presentation will be available via live webcast on Watsco's Investor Relations webpage. As the largest HVAC/R distribution network in North America, Watsco serves over 350,000 contractors through its 673 locations. The company emphasizes its role in combating climate change, having prevented an estimated 15.8 million metric tons of CO2e emissions since 2020 through the sale of high-efficiency HVAC systems, equivalent to removing 3.4 million gas-powered vehicles from the road for a year.

Watsco, Inc. (NYSE: WSO) reported record fourth quarter and full-year 2022 results, driven by strong sales and operational efficiencies. Fourth quarter EPS surged 76% to a record $3.55, with sales reaching $1.58 billion, up 5%. Gross profit also increased by 5%, reaching $434 million. Full-year sales rose 16% to $7.27 billion, with net income growing 43% to $601 million. The company benefitted from a $49 million tax advantage due to restricted stock vesting, notably enhancing EPS figures. Watsco emphasizes its robust technology platforms and strategic growth initiatives within the $50+ billion HVAC/R market.

Watsco, Inc. (NYSE: WSO) will host a conference call on February 16, 2023, at 10:00 a.m. (ET) to discuss its 2022 fourth quarter and annual financial results. The call will include prepared remarks followed by a Q&A session with senior management. Earnings results will be released before market open on the same day. Participants can pre-register for immediate access via a unique PIN. Watsco operates the largest HVAC/R distribution network across North America, significantly contributing to climate change mitigation through high-efficiency HVAC system sales, reportedly averting an estimated 15.8 million metric tons of CO2e emissions between 2020 and 2022.

Watsco Declares $2.45 Dividend

On January 3, 2023, Watsco, Inc. (NYSE: WSO) announced a quarterly cash dividend of $2.45 per share, payable on January 31, 2023, to shareholders of record as of January 17, 2023. This marks the 49th consecutive year of dividend payments, reflecting the company’s commitment to sharing cash flow while maintaining a strong balance sheet. Watsco plays a crucial role in reducing CO2 emissions by offering high-efficiency HVAC systems, having averted an estimated 14.2 million metric tons of CO2 emissions from 2020 to 2022.

Watsco, Inc. (NYSE: WSO) has announced an 11% increase in its annual dividend to $9.80 per share. This reflects the company's strong performance in 2022 and confidence in future prospects, according to Chairman & CEO Albert H. Nahmad. The new dividend will be paid starting in January 2023. Watsco has maintained dividend payments for 48 consecutive years, emphasizing a commitment to sharing increased cash flow with shareholders while upholding a conservative balance sheet.

Watsco (WSO) reported record operating results for Q3 2022, with a 14% sales growth to $2.04 billion and a gross profit increase of 14% to $551 million. The company's board approved an 11% dividend hike to $9.80 per share, continuing its 48-year dividend payment streak. Year-to-date sales reached $5.69 billion, up 19%, alongside significant growth in HVAC product categories. Despite challenges from Hurricane Ian and rising SG&A expenses, Watsco's strong financial position, including $130 million in cash and a robust equity base of $2.3 billion, underlies its growth outlook.

Watsco, Inc. (NYSE: WSO) will conduct a conference call on October 20, 2022, at 10:00 a.m. EDT to discuss its Q3 financial results. The earnings will be released before the market opens on the same day. Interested participants can pre-register to receive a unique PIN for access to the call. Watsco is the largest HVAC/R distribution network in North America, serving 350,000 contractors annually. The company also contributes to climate change mitigation, having averted approximately 12.9 million metric tons of CO2e emissions since 2020.