press release

July 11, 2022, 7:31 a.m. EDT

Watsco's Earnings Call to Discuss Second Quarter Results Scheduled on July 26, 2022

MIAMI, July 11, Jul 11, 2022 (GLOBE NEWSWIRE via COMTEX) -- MIAMI, July 11, 2022 (GLOBE NEWSWIRE) -- Watsco, Inc. /zigman2/quotes/202815144/composite WSO +0.36% announced today that it will host a conference call to discuss its 2022 second quarter financial results on Tuesday, July 26, 2022 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 highlighted on our website at www.watsco.com . The earnings results will be released before the market opens on July 26, 2022. 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/10168988/f39b934e98

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 is 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 350,000 contractors and technicians visit or call one of its 671 locations each year to get information, obtain technical support and buy products.

Watsco has the opportunity to be a significant and important contributor toward climate change as its business plays an important role in the drive to lower CO2e emissions. According to the Department of Energy, heating and air conditioning accounts for roughly half of U.S. household energy consumption. As such, replacing HVAC systems at higher efficiency levels is one of the most meaningful steps homeowners can take to reduce electricity consumption and carbon footprint over time.

The overwhelming majority of new HVAC systems sold by Watsco replace systems that likely operate well below current minimum efficiency standards in the U.S. and may use more harmful refrigerants that have been subsequently phased-out. As consumers replace HVAC systems with new, higher-efficiency systems, homeowners will consume less energy, save costs and reduce the carbon footprint over time.

Based on estimates validated by independent sources, Watsco averted an estimated 11.4 million metric tons of CO2e emissions from January 1, 2020 to March 31, 2022 through the sale of replacement HVAC systems at higher-efficiency standards. 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

COMTEX_409976222/2471/2022-07-11T07:30:31

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/zigman2/quotes/202815144/composite
US : U.S.: NYSE
$ 269.94
+0.96 +0.36%
Volume: 367,731
Dec. 1, 2022 4:00p
P/E Ratio
19.69
Dividend Yield
3.26%
Market Cap
$10.47 billion
Rev. per Employee
$1.05M
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