MIAMI, July 22, 2024 (GLOBE NEWSWIRE) -- Watsco, Inc. (NYSE: WSO) announced today that it will host a conference call to discuss its 2024 second quarter results on Tuesday, July 30, 2024 at 10:00 a.m. (EDT). Prepared remarks regarding the results will be followed by a question-and-answer session with the senior management team.
The conference call will be web-cast by CCBN's StreetEvents and can be found under the link on our website at www.watsco.com. The earnings results will be released before the market opens on July 30, 2024. A replay of the conference call will be available on our website.
Investors and analysts are encouraged to pre-register for the conference call by using the link below. Participants who pre-register will be given a unique PIN to gain immediate access to the call. Pre-registration may be completed at any time up to the call start time.
To pre-register, go to: https://dpregister.com/sreg/10190794/fd0b60a026
Participants that would like to join, but have not pre-registered, can do so by dialing (844) 883-3908 within the United States or (412) 317-9254 internationally and asking for the “Watsco” call. Please call five to ten minutes prior to the scheduled start time as the number of telephone connections is limited.
Watsco operates the largest distribution network for heating, air conditioning and refrigeration (HVAC/R) products with locations in the United States, Canada, Mexico, and Puerto Rico, and on an export basis to Latin America and the Caribbean. Watsco estimates that over 375,000 owner-operators, technicians, and installers visit or call one of its 691 locations each year to get information, obtain technical support and buy products.
We focus on the replacement market, which has increased in size and importance as a result of the aging of installed systems, the introduction of higher energy efficient models and the necessity of HVAC products in homes and businesses. According to data published in March 2023 by the Energy Information Administration, there are approximately 102 million HVAC systems installed in the United States that have been in service for more than 10 years, most of which operate well below current minimum efficiency standards.
Accordingly, Watsco has the opportunity to be a significant and important contributor toward climate change as it plays an important role to lower CO2e emissions. According to the Department of Energy, HVAC systems account for roughly half of U.S. household energy consumption. As such, replacing older systems at higher efficiency levels is a critical means for homeowners to reduce electricity consumption and their carbon footprint.
Based on estimates validated by independent sources, Watsco averted an estimated 20.9 million metric tons of CO2e emissions from January 1, 2020 to June 30, 2024 through the sale of replacement HVAC systems at higher-efficiency standards, an equivalent of removing 5.0 million gas powered vehicles annually off the road. More information, including sources and assumptions used to support the Company’s estimates, can be found at www.watsco.com.
Barry S. Logan
Executive Vice President
(305) 714-4102
e-mail: blogan@watsco.com
