MIAMI--(BUSINESS WIRE)--Nov. 30, 2016--
Watsco, Inc. (NYSE: WSO) announced today it will host an investor and
analyst meeting on Friday, December 9, 2016 at the Sonesta Hotel in
Coconut Grove, Florida from 10:00 a.m. to 1:00 p.m. by invitation only.
The meeting’s theme is “Technology at Watsco.”
Watsco has established itself as the leader in the HVAC distribution
industry and produced a 20% compounded annual total-shareholder-return
over the last 25 years. Watsco is building on this growth and is
investing in a number of scalable technologies.
Since 2012, Watsco’s technology team has grown from approximately 60
employees to 171 employees while achieving record levels of operating
performance. The present annual run-rate for costs associated with these
initiatives is approximately $23 million.
Watsco has created and launched innovations to enhance the buying
experience of its 88,000 customers and the service capabilities at its
Mobile apps and other on-line tools to enable e-commerce using the
industry’s most data-rich catalog of product information.
Business intelligence and data analytics to enable more insightful
decision-making by more than 600 P&L managers across the Company.
Supply chain optimization to improve fill-rates, increase inventory
turns and reduce infrastructure costs over the long-term.
Tools to improve operational efficiency for 7+ million annual customer
A question and answer session will also be held to provide further
insight into the presentation. An audio webcast and presentation slides
will be available on our website at http://www.watsco.com.
Watsco improves indoor living and working environments with air
conditioning and heating solutions that provide comfort regardless of
the outdoor climate. There are approximately 89 million central air
conditioning and heating systems installed in the United States that
have been in service for more than 10 years. Older systems often operate
below today’s government mandated energy efficiency and environmental
standards. Watsco has an opportunity to accelerate the replacement of
these systems at a scale greater than our competitors as the movement
toward reducing energy consumption and its environmental impact
continues. This is especially important since heating and cooling
accounts for approximately half of the energy consumed in a typical U.S.
Watsco’s traditional sales channel is through one of its 568 locations
in the United States, Canada, Mexico and Puerto Rico, and on an export
basis to Latin America and the Caribbean. This network has been built
over the last 25 years and serves 88,000 active customers. Watsco is
developing and investing in technologies to enable sales via e-commerce,
on-line marketplaces and through the retail sales channel. As the
industry leader, we believe that significant growth potential remains
given that the marketplace for HVAC/R products at the consumer level is
estimated to be $80 billion annually. Additional information about
Watsco may be found at http://www.watsco.com.
This document includes certain “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements are based on management's current expectations and are
subject to uncertainty and changes in circumstances. Actual results may
differ materially from these expectations due to changes in economic,
business, competitive market, new housing starts and completions,
capital spending in commercial construction, consumer spending and debt
levels, regulatory and other factors, including, without limitation, the
effects of supplier concentration, competitive conditions within
Watsco’s industry, seasonal nature of sales of Watsco’s products, the
ability of the Company to expand its business, insurance coverage risks
and final GAAP adjustments. Forward-looking statements speak only as of
the date the statement was made. Watsco assumes no obligation to update
forward-looking information to reflect actual results, changes in
assumptions or changes in other factors affecting forward-looking
information. Detailed information about these factors and additional
important factors can be found in the documents that Watsco files with
the Securities and Exchange Commission, including the Company’s most
recently filed annual report on Form 10-K, as updated by its
subsequently filed Forms 10-Q and Form 8-K.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161130005930/en/
Source: Watsco, Inc.
Barry S. Logan, 305-714-4102