Watsco has announced its operating results for the first quarter ended March 31, 2025 and provided commentary on growth opportunities, business trends, its financial position and long-term growth drivers.

Watsco is a leading distributor in the HVAC/R marketplace, serving over 375,000 contractors, technicians and installers from 693 locations across the U.S., Canada and Latin America. Since entering distribution in 1989, the company has scaled to be the industry leader through a combination of organic growth and the acquisition of 71 businesses. From 1989 through 2024, Watsco has achieved a 19% compounded annual growth rate (CAGR) for total-shareholder-return, representing strong performance across most macroeconomic and industry cycles.

Watsco maintains a strong balance sheet and is well-positioned to invest in growth. As previously announced, Watsco raised its annual dividend by 11% to $12.00 per share effective in April 2025. At March 31, 2025, Watsco had $432 million of cash, no outstanding debt and $3 billion of shareholders’ equity. 2025 marks the company’s 51^st consecutive year of paying dividends.

Watsco continues to invest in its industry-leading technologies to enrich the customer experience, drive growth, gain market share and improve operating efficiency. Watsco’s digital user-community consists of approximately 67,000 contractors and technicians that engage through state-of-the-art platforms capable of influencing nearly every aspect of their day. Since launching its digital platform, Watsco has generated higher sales growth rates among digital users, achieved meaningful customer acquisition and reduced attrition. Watsco has also begun to establish pathways for AI-related initiatives and leveraging the substantial data streams curated by the company.

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