WATSCO INC: management transactions · United States · SEC (Form 4)

About WATSCO INC

Watsco Inc. is a U.S.-based company listed on the NYSE in the United States and is one of the leading names in specialized distribution of heating, air conditioning and refrigeration equipment, as well as related parts and supplies (HVAC/R). The company was originally founded in Florida in 1956 and has spent decades building a dominant position in a highly fragmented North American distribution market. For international investors, Watsco stands out as a scaled consolidator with strong local market presence, a broad logistics footprint and long-standing relationships with professional contractors. ([sec.gov](https://www.sec.gov/Archives/edgar/data/105016/000119312525041730/d898605d10k.htm?utm_source=openai)) Watsco’s core business model is centered on distributing HVAC/R equipment for residential, commercial and refrigeration end markets. Its product range includes complete systems, components, accessories, replacement parts and supplies used by contractors and service companies. A key differentiator is the company’s digital ecosystem, including HVAC Pro+ Mobile Apps, e-commerce capabilities and OnCallAir®, which help contractors access inventory, pricing, product data and technical support, and even generate homeowner quotes. This technology layer has become an increasingly important competitive advantage in a traditionally relationship-driven industry. ([sec.gov](https://www.sec.gov/Archives/edgar/data/105016/000119312526053048/wso-ex99_1.htm?utm_source=openai)) From a competitive standpoint, Watsco describes itself as the largest independent HVAC/R distributor in North America. Its scale, product breadth and acquisition track record are central to the investment case. Since 1989, the company has completed numerous acquisitions, expanding its geographic reach and reinforcing its branch network. Management also highlights structural growth drivers such as the transition toward more efficient HVAC systems, including heat pumps and A2L refrigerant-based products, as well as increasing adoption of digital tools by contractors. ([investors.watsco.com](https://investors.watsco.com/news-releases/news-release-details/watsco-reports-record-fourth-quarter-sales-expanded-margins-and?utm_source=openai)) Watsco is headquartered in Miami, Florida, and operates primarily across North America, with a meaningful commercial presence in the United States and other regional markets. In 2024, the company reported revenue of $7.6 billion and continued investing in technology and logistics. Recent highlights include an increase in the annual dividend announced in 2025, continued growth in its digital platforms, and business momentum related to the 2025 A2L product transition. Overall, Watsco offers a combination of defensive distribution characteristics, acquisition-led consolidation potential and organic growth tied to HVAC market modernization. ([watsco.com](https://www.watsco.com/what-defines-us/?utm_source=openai))