Watsco, Inc. (1WSO)

Profile

https://www.watsco.com

Watsco, Inc. is the largest distributor of air conditioning, heating, and refrigeration equipment and related parts and supplies (HVAC/R) in the Americas. Headquartered in Miami, Florida, the company operates over 670 locations across the United States, Canada, Mexico, the Caribbean, and South America, employing approximately 7,300 people. Founded in 1947 as Wagner Tool & Supply Corp. in New York and incorporated in Florida in 1956, Watsco shifted from manufacturing to distribution in 1989 through key acquisitions like Gemaire Distributors. It holds significant market share in heating & air-conditioning equipment wholesaling (6.7%) and refrigeration equipment wholesaling, serving a fragmented $50+ billion North American market. Watsco's decentralized model empowers local leaders, focusing on strategic acquisitions for geographic expansion and density. The company supports sustainability by distributing high-efficiency HVAC units, heat pumps, and energy-saving supplies, averting 24.5 million metric tons of CO2e from 2020-2024. With revenues reaching $7.6 billion as of 2024, Watsco plays a pivotal role in the HVAC/R supply chain for contractors and businesses.