Watsco Stock Price, News & Analysis

Watsco, Inc. (NYSE: WSO) has signed an agreement to acquire Temperature Equipment Corporation (TEC), marking Watsco’s first entry into the U.S. Midwest. TEC, a major HVAC distributor, reported $291 million in sales for 2020 and serves approximately 10,000 contractor customers from 32 locations across multiple states. Watsco will own 80% of TEC, expected to close within 30 days. This acquisition aligns with Watsco's buy-and-build strategy, aimed at expanding its HVAC/R distribution network while leveraging TEC's established market presence.

Watsco, Inc. (NYSE:WSO) has announced a 10% increase in its annual dividend, raising it to $7.80 per share, effective from April 2021. The decision, supported by strong cash flow and a solid balance sheet, reflects the company's confidence in its ongoing performance. Watsco has maintained a strong dividend payment history for 47 consecutive years, emphasizing its commitment to sharing increasing cash flow with shareholders while keeping a conservative financial approach.

Watsco achieved record financial results for 2020, showcasing strong growth across multiple metrics. Key highlights include:

• 24% EPS growth to $1.14 and 8% sales growth to a record $5.05 billion.
• 10% increase in net income to $270 million and a 59% increase in operating cash flow to $534 million.
• A 10% dividend raise to $7.80 per share effective April 2021.

The company's growth is attributed to its focus on technology and efficiency, with significant investments in digital transformation.

Watsco, Inc. (NYSE: WSO) will host a conference call on February 11, 2021, at 10:00 a.m. (EDT) to discuss its fourth quarter and annual financial results for 2020. The earnings results will be released before the market opens on the same day. Investors can access the conference call via a web-cast link provided on Watsco's website. Participants are encouraged to pre-register for immediate access. Watsco is the largest distribution network for HVAC/R products, serving the U.S., Canada, Mexico, and beyond, with a focus on energy-efficient systems.

Watsco, Inc. (NYSE: WSO) has declared a quarterly cash dividend of $1.775 per share, payable on January 29, 2021, for shareholders on record as of January 15, 2021. This marks the 47th consecutive year of dividend payments, reflecting the company's commitment to return cash flow to shareholders. Watsco emphasizes a conservative financial approach in determining future dividends, considering investment opportunities and economic conditions. As the largest HVAC/R product distributor, Watsco has a significant presence across North America and opportunities for sustainable growth.

Watsco (NYSE: WSO) announced that its annual sales for 2020 have exceeded $5 billion, marking a significant milestone since its inception in 1972. The company shifted its focus to HVAC distribution in 1989 and has since cultivated a decentralized management culture, fostering growth and partnerships. Watsco sees substantial opportunity in the $40 billion U.S. HVAC market, emphasizing the importance of technology integration and sustainability. The company operates the largest HVAC/R distribution network across North America, helping contractors and technicians maintain energy-efficient systems.

Watsco, Inc. reported record results for Q3 and the first nine months of 2020, with significant increases in sales, operating income, and EPS. Key metrics include a 25% EPS rise to $2.76, a 10% sales growth reaching $1.54 billion, and a remarkable 89% increase in operating cash flow to $373 million. The company’s operating margin expanded by 120 basis points to 10.2%. Enhanced technology adoption, particularly in mobile and e-commerce platforms, has driven customer engagement and sales growth. Watsco maintains a conservative balance sheet with nearly zero debt, supporting continued investment in growth opportunities.

Watsco, Inc. (NYSE: WSO) will host a conference call on October 22, 2020, at 10:00 a.m. EDT to discuss its third-quarter financial results. The earnings will be released before the market opens on the same day. Investors can pre-register for the call to receive a unique PIN for immediate access. Watsco is the largest HVAC/R distribution network in North America, serving over 300,000 contractors annually through 603 locations. The company focuses on replacing older systems with more energy-efficient solutions, highlighting its commitment to environmental standards.

Watsco (NYSE: WSO) reported second-quarter results demonstrating resilience amid COVID-19. The company achieved record cash flow of $219 million, bolstered by a 66% increase in gross merchandise value via OnCall Air®, its digital sales platform. E-commerce sales reached an annual run-rate of $1.5 billion, accounting for 33% of total sales. Despite a slight decline in overall sales to $1.36 billion, Watsco's innovative technology and strong financial position, including $80 million in cash, position it favorably for growth. The company also increased its dividend by 11% to $7.10 per share.