Watsco, Inc. (WSO) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and welcome to the Watsco fourth quarter 2024 and year-end earnings call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Albert and Ahmed Chairman and CEO. Please go ahead. Good morning. This is Dr. Ernie's call. This is Dr. Ernie. He is A.J. Named, President of Roscoe, Paul Justin, Barry Logan, and Rick Gomez. Now, before we start, our cautionary statement is always, this conference call has four booking statements as defined by SEC laws and regulations. that are made pursuant to the safe harbor provisions of these various laws. Ultimate results may differ maturely from the forward-looking statement. Now, on to the call. Roscoe had a terrific, emphasis on terrific, fourth quarter to close out a strong deal. We achieved record sales, expanded margins, improved operating efficiency, and generated record earnings and cash flow. Market conditions continue to improve, which led to a 14 percent growth in equipment sales and 16 percent growth in residential products. Our financial position is stronger than ever, and we are happy to announce today an 11 percent dividend increase to $12 per share. Looking forward, we are optimistic about our opportunities ahead of us. The transition to next-generation A2L products is well underway. The new ATL products provide the opportunity to upgrade the installed base of existing equipment to systems that are both more efficient and en...