Watsco's Second Quarter Earnings Call Scheduled on July 30, 2024

Company Overview - Watsco, Inc. operates the largest distribution network for heating, air conditioning, and refrigeration (HVAC/R) products across the United States, Canada, Mexico, and Puerto Rico, with additional export operations to Latin America and the Caribbean [5] - The company has 691 locations that serve over 375,000 owner-operators, technicians, and installers annually, providing information, technical support, and product sales [5] Market Focus - Watsco focuses on the replacement market, which is growing due to the aging of installed HVAC systems, the introduction of more energy-efficient models, and the essential nature of HVAC products in residential and commercial settings [6] - Approximately 102 million HVAC systems in the U.S. are over 10 years old and operate below current efficiency standards, indicating a significant opportunity for replacement [6] Environmental Impact - Watsco plays a crucial role in addressing climate change by contributing to the reduction of CO2e emissions through the sale of higher-efficiency HVAC systems [7] - HVAC systems account for about half of U.S. household energy consumption, making the replacement of older systems a vital strategy for reducing electricity use and carbon footprints [7] - From January 1, 2020, to June 30, 2024, Watsco is estimated to have averted 20.9 million metric tons of CO2e emissions, equivalent to removing 5 million gas-powered vehicles from the road annually [8]