Watsco Says 2020 Annual Sales Exceed $5 Bln - Quick Facts

(RTTNews) - Watsco, Inc. (WSO), a distributor of heating, air conditioning and refrigeration or HVAC/R products, said Wednesday that its 2020 annual sales have exceeded $5 billion.

"We started this journey in 1972 building on a $5 million manufacturing business in Hialeah, Florida. Then in 1989, we changed course and acquired our first HVAC distributor. We liked the distribution business, sold the manufacturing business and went to work," Watsco Chairman and Chief Executive Officer Albert Nahmad said in a note to the company's more than 5,700 employees and 1,000 supplier partners.

Nahmad noted that Watsco has an immense opportunity to grow as industry sales in the U.S. alone are estimated to be $40 billion.