Watsco Inc (NYSE:WSO)
$ 542.84 -0.33 (-0.06%) Market Cap: 21.88 Bil Enterprise Value: 21.73 Bil PE Ratio: 42.41 PB Ratio: 8.13 GF Score: 85/100
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Q4 2019 Watsco Inc Earnings Call Transcript

Feb 13, 2020 / 03:00PM GMT
Release Date Price: $174.2 (-0.18%)
Operator

Good morning, and welcome to the Watsco, Inc. Fourth Quarter 2019 Earnings Conference Call. (Operator Instructions) Please note, this event is being recorded.

I would now like to turn the conference over to Albert Nahmad, Chief Executive Officer and Chairman of the Board. Please go ahead.

Albert H. Nahmad
Watsco, Inc. - Chairman & CEO

Good morning. This is Al Nahmad, Chairman and CEO. And with me is A.J. Nahmad, President; Paul Johnston, Executive Vice President; and Barry Logan, Executive Vice President as well.

Now before we start, our cautionary statement as usual. The conference call have forward-looking statements as defined by SEC laws and regulations that are more pursuant to the safe harbor provisions of these various laws. Ultimate results may differ materially from the forward-looking statements.

On to the report. Watsco produced another record year with sales, net income and earnings per share reaching record levels. We also produced record cash flow of $336 million, representing 114% of net income. Reflecting our

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