Watsco, Inc. (WSO) Q4 2025 Earnings Call

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WEBVTT 00:00:01.955 -- 00:00:08.241 Good day and welcome to the Watsco fourth quarter 2025 earnings conference call. 00:00:08.241 -- 00:00:11.464 All participants will be in listen only mode. 00:00:11.464 -- 00:00:15.408 Should you need assistance, please signal a conference specialist by pressing the star 00:00:15.408 -- 00:00:18.071 key followed by zero. 00:00:18.071 -- 00:00:22.615 After today's presentation, there will be an opportunity to ask questions. 00:00:22.615 -- 00:00:27.159 To ask a question, you may press star then one on a touch tone phone. 00:00:27.159 -- 00:00:30.912 To withdraw your question, please press star then two. 00:00:30.912 -- 00:00:36.160 Please note this event is being recorded. I would now like to turn the call over to Albert 00:00:36.160 -- 00:00:39.361 Namid. Please go ahead. 00:00:40.826 -- 00:00:45.313 Good morning, everyone. Welcome to our fourth quarter earnings call. 00:00:45.313 -- 00:00:50.340 This is Al Namid, Chairman and CEO, and with 00:00:50.340 -- 00:00:55.548 me is AJ Namid, President, Paul Johnston, Barry Logan, 00:00:55.548 -- 00:00:57.991 and Rick Gomez. 00:00:57.991 -- 00:01:01.304 Before we start, a cautionary statement as always. 00:01:01.304 -- 00:01:06.692 This conference call is forward-looking statements as defined by SEC laws and regulations 00:01:06.692 -- 00:01:10.739 that are made pursuant to the safe harbor provisions of these various laws. 00:01:10.739 -- 00:01:16.307 Ultimate results may differ materially in the forward-looking statements. 00:01:16.307 -- 00:01:22.654 As we all know, 2025 marked a year of significant regulatory change 00:01:22.877 -- 00:01:27.511 to next-generation equipment containing A2L refrigerants. 00:01:27.511 -- 00:01:33.639 This transition follows several busy, volatile years begi...