Watsco, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 13, 2024 at 07:01 am EST
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Watsco, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 1,603.2 million compared to USD 1,581.22 million a year ago. Net income was USD 82.55 million compared to USD 137.67 million a year ago. Diluted earnings per share from continuing operations was USD 2.06 compared to USD 3.55 a year ago.
For the full year, the company reported sales was USD 7,283.77 million compared to USD 7,274.34 million a year ago. Net income was USD 536.34 million compared to USD 601.17 million a year ago. Diluted earnings per share from continuing operations was USD 13.67 compared to USD 15.41 a year ago.
Watsco, Inc. is engaged in the distribution of air conditioning, heating and refrigeration equipment and related parts and supplies (HVAC/R) with locations in the United States, Canada, Mexico, and Puerto Rico, and on an export basis to Latin America and the Caribbean. The Company sells products to the commercial refrigeration market, which include condensing units, compressors, evaporators, valves, refrigerants, walk-in coolers, and ice machines for industrial and commercial applications. It also sells a variety of non-equipment products including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats, and air quality products. It distributes products manufactured by Flexible Technologies, Inc. (Flexible Technologies), Resideo Technologies, Inc. (Resideo), Copeland Corporation, LLC, The Chemours Company (Chemours), Mueller Industries, Inc. (Mueller), and Welbilt, Inc. (Welbilt), among others. The Company operates in approximately 692 locations.
WATSCO, INC. 
