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Watsco ecommerce sales top $2.3 billion

Watsco ecommerce sales now represents about 32% of total sales. Its online channel grew 17% in 2022, the company says.

Watsco ecommerce sales top $2.3 billion

AlbertHNahmad-Watsco

Albert Nahmad, CEO, Watsco Inc.

The economy may be slowing, but a large distributor of heating, air conditioning and ventilation products is putting B2B ecommerce in the fast lane.

We have an immense technology advantage, and we are investing to grow that advantage.
Albert H. Nahmad, CEO
Watsco Inc.

Watsco ecommerce sales

For the fourth quarter ended Dec. 31, Miami-based Watsco Inc. reported a 5% increase in total sales to a record $1.58 billion. Net income was $157.1 million, up from $96.6 million a year earlier.

For the 12 months ended Dec. 31, Watsco reported sales of $7.274 billion, up 16% year over year from $6.280 billion. Net income was $703.7 million, versus $498.7 million a year earlier.

Ecommerce now represents about 32% of Watsco’s total sales. Its online channel grew 17% in 2022, the company says. Based on those metrics, Digital Commerce 360 projects that ecommerce sales grew year over year to $2.327 billion.

“We have an immense technology advantage, and we are investing to grow that advantage,” CEO  Watsco CEO Albert H. Nahmad told Wall Street analysts. “These technologies are increasing customer’s engagement, reducing attrition and creating sustainable market share gains.”

Watsco, which increased its spending on new technology to $49 million in 2022 also reported other digital metrics including:

Other digital metrics include:

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