{"id":813976,"date":"2025-02-18T07:34:50","date_gmt":"2025-02-18T12:34:50","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/watsco-reports-record-fourth-quarter-sales-expanded-margins-and-record-cash-flow\/"},"modified":"2025-02-18T07:34:50","modified_gmt":"2025-02-18T12:34:50","slug":"watsco-reports-record-fourth-quarter-sales-expanded-margins-and-record-cash-flow","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/watsco-reports-record-fourth-quarter-sales-expanded-margins-and-record-cash-flow\/","title":{"rendered":"Watsco Reports Record Fourth Quarter Sales, Expanded Margins and Record Cash Flow"},"content":{"rendered":"
\n

\n Boosts Annual Dividend 11% to $12.00 Per Share<\/strong>\n <\/p>\n

\n Entrepreneurial Culture, Transformational Technologies and Debt-Free Balance Sheet\u00a0<\/strong>
\n Continue to Produce Results and Provide Long-Term Opportunities<\/strong>\n <\/p>\n

MIAMI, Feb. 18, 2025 (GLOBE NEWSWIRE) — Watsco, Inc. (NYSE: WSO) reported fourth quarter and full year 2024 results and provided commentary on current business trends, technology innovation and long-term growth drivers.<\/p>\n

Watsco also announced today an 11% increase to its annual dividend to $12.00 per share effective with its next regular dividend payment in April 2025.<\/p>\n

Watsco\u00a0is the leading distributor in the HVAC\/R marketplace, serving over 375,000 contractors, technicians and installers annually from 691 locations across the\u00a0U.S.,\u00a0Canada and\u00a0Latin America. Since entering distribution in 1989 through the end of 2024, the compounded annual growth rate (CAGR) of Watsco\u2019s operating profit was 18%, dividends were 21% and total-shareholder-return was 19%, representing strong and consistent performance across most macroeconomic and industry cycles.<\/p>\n

Watsco\u00a0continues to invest in technologies that enrich the customer experience, drive growth, gain market share and improve operating efficiency. Watsco\u2019s digital user-community consists of approximately 64,000 contractors and technicians that engage with\u00a0Watsco through state-of-the-art platforms capable of influencing every aspect of their day. Since launch,\u00a0Watsco\u00a0has generated higher sales growth rates among digital customers, achieved meaningful new customer acquisition and reduced attrition. Watsco has also begun to establish pathways for AI-related initiatives and leverage the substantial data streams curated by the Company.<\/p>\n

Albert H. Nahmad, Watsco\u2019s Chairman and CEO, commented: \u201cWatsco had a terrific fourth quarter, achieving record sales and earnings, improved operating efficiency, expanded margins and record cash flow. Looking ahead, the transition to A2L products is well underway, providing incremental opportunities for growth and share gains as our technology platforms gain more adoption in the marketplace. Our teams continue to lead and innovate, and I am optimistic that our industry-leading scale, entrepreneurial culture, technology advantage and financial strength position us to continue to capture growth and share.\u201d<\/p>\n

Mr. Nahmad added: \u201cWe are pleased to raise our dividend, marking the 51st<\/sup> consecutive year that Watsco has paid dividends. With $782 million in cash and short-term investments along with a debt-free balance sheet, Watsco remains well-positioned to invest in most any-sized growth opportunity to advance its leadership position within the fragmented $74 billion HVAC\/R distribution marketplace.\u201d<\/p>\n

\n
\n Fourth Quarter Results<\/u>
\n <\/strong>\n <\/p>\n