Watsco, Inc. (NYSE: WSO), Miami, Fla., a North American distributor of HVAC/R equipment and supplies, reported sales for the fourth quarter of 2024 of $1.75 billion, up 9%. Profit for the quarter was $115 million.
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In the fourth quarter, HVAC equipment sales were up 14%, HVAC product sales were flat, and commercial refrigeration sales were up 4%.
Full-year sales for 2024 were $7.62 billion, up 5% from 2023. Profit was $635 million.
- eCommerce sales outpaced overall sales growth at $2.6 billion, up 16% during the fourth quarter and 8% for the year.
- The HVAC Pro+ Mobile Apps user base grew 15% over the past 12 months.
- OnCallAir, their digital sales platform for contractors, was used to generate quotes to 313,000 householders, up 22% over the past year.
“Watsco had a terrific fourth quarter, achieving record sales and earnings, improved operating efficiency, expanded margins and record cash flow,” said Albert H. Nahmad, CEO. “Looking ahead, the transition to A2L products is well underway, providing incremental opportunities for growth and share gains as our technology platforms gain more adoption in the marketplace.”
Watsco has 691 locations across North America serving over 375,000 customers.
