Company Overview - Watsco operates the largest distribution network for heating, air conditioning, and refrigeration (HVAC/R) products across the U.S., Canada, Mexico, and Puerto Rico, with exports to Latin America and the Caribbean [2] - The company has 701 locations that serve over 375,000 contractors, technicians, and installers annually [2] Market Focus - Watsco focuses on the replacement market, which is growing due to aging systems, the introduction of energy-efficient models, and the essential nature of HVAC products in homes and businesses [3] - Approximately 102 million HVAC systems in the U.S. are over 10 years old and operate below current efficiency standards, presenting a significant opportunity for Watsco [3] Environmental Impact - Watsco has contributed to reducing CO2e emissions by an estimated 24.5 million metric tons from January 1, 2020, to June 30, 2025, through the sale of higher-efficiency replacement HVAC systems [4] - This reduction is equivalent to removing 5.7 million gas-powered vehicles from the road annually [4] Upcoming Events - Barry S. Logan, Executive Vice President of Watsco, is scheduled to present at the 13th Annual Morgan Stanley Laguna Conference on September 11, 2025 [1]