Watsco Inc (NYSE:WSO)
$ 542.99 -0.18 (-0.03%) Market Cap: 21.88 Bil Enterprise Value: 21.77 Bil PE Ratio: 42.42 PB Ratio: 8.13 GF Score: 85/100
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Q1 2021 Watsco Inc Earnings Call Transcript

Apr 22, 2021 / 02:00PM GMT
Release Date Price: $291.15 (+2.17%)
Operator

Good morning, and welcome to the Watsco First Quarter 2020 -- 2021 Earnings Call. (Operator Instructions) Please note, this event is being recorded.

I'd now like to turn the conference over to Albert Nahmad, Chairman and CEO. Please go ahead.

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

Good morning, everyone. Welcome to Watsco's First Quarter Earnings Call, and this is Al Nahmad, Chairman and CEO. And with me is A.J. Nahmad, who's the President; and our 2 Executive Vice Presidents, Paul Johnston and Barry Logan.

Before we start, our usual cautionary statement. This conference call has forward-looking 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 materially from the forward-looking statements.

Now on to our financial report. Watsco achieved record first quarter results. Earnings per share grew 93% to a record $1.39 per share. Records were set for sales, gross profits, gross margin, operating income, operating margin,

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