Tear Sheet

Watsco Inc. is the largest distributor of air conditioning,heating, and refrigeration products in the Americas.

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Analyst Ratings / Estimates

Mean Recommendation:



Strong Buy

Reference Information - Earnings Per Share

Analyst Forecasts - Earnings Per Share

Last Month Revisions
Last Month Revisions
Fiscal Period Mean High Low Median # of Estimates # Up # Down Mean % Change
Annual Dec 25 13.96 15.35 12.20 14.15 4 -- -- --
Annual Dec 24 14.12 15.44 12.70 14.20 13 -- -- --
Annual Dec 23 13.65 14.53 12.49 13.77 12 -- -- --
Quarterly Mar 23 2.26 2.90 1.82 2.20 11 -- -- --
Quarterly Jun 23 4.78 5.27 4.34 4.76 11 -- -- --
Quarterly Sep 23 4.30 4.69 3.83 4.29 11 -- -- --
Quarterly Dec 23 2.33 2.64 1.99 2.32 11 -- -- --
Long Term Growth 4.42 4.42 4.42 4.42 1 -- -- 0.00

Actuals - Earnings Per Share

Reported Mean Estimate Surprise % Change
Annual Dec 22 15.41 14.00 10.11
Annual Dec 21 10.78 10.49 2.72
Annual Dec 20 7.01 6.82 2.80
Quarterly Dec 22 3.55 2.12 67.31
Quarterly Sep 22 4.03 4.37 -7.79
Quarterly Jun 22 4.93 5.05 -2.40
Quarterly Mar 22 2.90 1.78 63.35

SEC Filings

Filing date Form
SC 13G/A
SC 13G/A
SC 13G/A
SC 13G/A

Corporate Governance

  • Albert H. Nahmad

    Chief Executive Officer

    Albert H. Nahmad has been the visionary founder and leader of Watsco for 50 years, having served as our Chairman and Chief Executive Officer since 1972. Among his many contributions, Mr. Nahmad has been instrumental in the scaling of our business through acquisitions, the cultivation of strategic vendor relationships, and the development of Watsco’s entrepreneurial culture. In 1988 Mr. Nahmad made the decision to pivot the Company’s strategic focus from manufacturing to distribution of HVAC/R products. Since that time, Watsco’s market capitalization has grown from $22 million to $12.1 billion, and its compounded annual growth rate of total shareholder return has been 19%. With revenues of $6.3 billion in 2021, Watsco has solidified its place as the industry leader and now has approximately 6,900 employees serving approximately 120,000 active contractor customers through a branch network of 671 locations.

    • Aaron (A.J.) Nahmad


      Aaron J. (A.J.) Nahmad has served as the President of the Company since 2016 and as a director since 2011. He served as Vice President of Strategy & Innovation from 2010 until 2016 and as Director of Global Business Development beginning in 2005. He holds a B.A. from the University of Pennsylvania and a M.B.A. from New York University’s Leonard N. Stern School of Business. He is the son of Albert H. Nahmad. A.J. Nahmad has led the transformation of Watsco into a technology-enabled business. His promotion to President in 2016 recognized this leadership and acknowledged the importance of the successful execution and adoption of these innovations across the Watsco enterprise.

      • Barry S. Logan

        Executive Vice President - Planning & Strategy and Secretary

        Barry S. Logan has served as our Executive Vice President, Planning & Strategy since September 2019 and previously served as a Watsco director from 2011 to 2018. Mr. Logan served as Senior Vice President from 2003 to 2019, as Vice President of Finance and Chief Financial Officer from 1997 to 2003, as Treasurer from 1996 to 1998 and in other capacities beginning in 1992. Mr. Logan is a certified public accountant. Mr. Logan was Watsco’s fourth corporate employee and is an integral participant in the Company’s business development initiatives, financial, and other strategic activities during his 30-year career. He is also the principal contact for engagement with our shareholders.

        • Ana M. Menendez

          Chief Financial Officer & Treasurer

          Ana M. Menendez has served as our Chief Financial Officer and Treasurer since 2003, as Treasurer since 1998, and as Assistant Secretary since 1999. Ms. Menendez is a certified public accountant. Ms. Menendez supervises all financial and accounting aspects of the Company, including taxes, risk management, benefits, treasury and cash management, the Company’s system of internal control and other compliance activities. She also is the leader and principal contact for the Company’s banking relationships and actively participates at a senior level in a variety of strategic activities. Ms. Menendez served on the Advisory Board of the College of Education at Florida International University from 2013 through 2015. She is a member and board chair of the Miami branch of the Federal Reserve Bank of Atlanta.