Albert Nahmad

Chairman and Chief Executive Officer, WATSCO INC

Search every verified Albert Nahmad interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Albert Nahmad, chairman and CEO of Watsco, discussed the company's third-quarter 2020 results on an earnings call, reporting record EPS of $2.76, a 25% increase, alongside record sales, gross profit, operating profit, operating margins, and net income. He attributed these results to strong growth in the U.S. residential HVAC equipment business, which grew 19% during the quarter, and to operating efficiencies across the network. Nahmad also noted record operating cash flow of $373 million and stated the company had no debt, adding that Watsco operates in a $40 billion industry with significant room for growth. During the call, Nahmad addressed questions about indoor air quality (IAQ) products, describing them as part of a bundled sales approach that includes higher-efficiency equipment and consumer financing, rather than a simple add-on percentage. He also commented on equipment pricing, stating that no price increases had been observed from manufacturers during the quarter, though he predicted they would likely raise prices in the new year.