Solar Integrated Roofing Corp. (OTC PINK: SIRC) Announces A July Sales Jump Of 600% To Record $10.5 Million, Seen As ‘Tip Of The Iceberg’ By Management, Eyeing Company Goal Of $150 Million Annual Sales Run Rate
Solar Integrated Roofing Corp. (OTC PINK: SIRC) announces today (Tuesday, August 3, 2021) a 600% jump in record July sales to $10.5 million and see it as a ’tip of the iceberg’ as it eyes its growth to a $150 million annualized run rate this year. The 600% jump vs. the comparable month the prior year breaks the Company’s June 2021 all-time monthly record. David Massey, CEO of SIRC, said, “The incredible sales growth we saw in July is just the tip of the iceberg as our marketing campaigns and recently acquired companies are just starting to kick in — I believe we can continue this rapid cadence of sequential growth in the historically busy fall season towards a $150 million annual sales run rate. As we look inwards to prioritize organic growth and key marketing initiatives get underway, I believe we will be well positioned to achieve our goal of realizing synergies with scale and reaching a sustainable level of profitability.”
stockmarketpress.com features specialized coverage of related stocks in the solar, roofing, EV charging stations and battery charging energy industry such as Solar Integrated Roofing Corp. (OTC PINK: SIRC), Sunrun, Inc. (NASDAQ: RUN), Blink Charging Co. (NASDAQ: BLNK), Tesla, Inc. (NASDAQ: TSLA), GM (NYSE: GM), SolarEdge Technologies, Inc. (NASDAQ: SEDG), First Solar, Inc. (NASDAQ: FSLR), SunPower (NASDAQ: SPWR), Gibraltar Industries, Inc. (NASDAQ: ROCK), Spartan Acquisition Corp. II (NYSE: SPRQ). and Canadian Solar Inc. (NASDAQ: CSIQ).
Solar Integrated Roofing Corp. (OTC PINK: SIRC) Announces A July Sales Jump Of 600% To Record $10.5 Million, Seen As ‘Tip Of The Iceberg’ By Management, Eyeing Company Goal Of $150 Million Annual Sales Run Rate
Massey added, “Our acquisition plan is working with USA Solar Network and Future Home Power performing either in-line with or exceeding all expectations as two examples. As we further integrate these acquisitions and build out both a sales and contractor network, we will be best positioned to capture the full lifecycle value of each customer — a critical element in our efforts to reach near-term profitability.” Solar Integrated Roofing Corp. (OTC PINK: SIRC) Announces A July Sales Jump Of 600% To Record $10.5 Million, Seen As ‘Tip Of The Iceberg’ By Management, Eyeing Company Goal Of $150 Million Annual Sales Run Rate.
He concluded, “Taking our sustained sales momentum and recently announced share buyback program into account, I believe we are well positioned to create sustainable value for our shareholders over the long-term.” Solar Integrated Roofing Corp. (OTC PINK: SIRC) Announces A July Sales Jump Of 600% To Record $10.5 Million, Seen As ‘Tip Of The Iceberg’ By Management, Eyeing Company Goal Of $150 Million Annual Sales Run Rate
Massey said that with its newest acquisitions, and FHP driving sales growth, SIRC is on track to achieve total sales of some $150 million in the current 2022 fiscal year. SIRC is expected to reach profitability in its 2022 fiscal year, he said.
He recently discussed the positive ways that SIRC has expanded by acquiring companies such as Cornerstone Construction, Future Home Power (FHP) and the 38-state USA Solar Network. The last takeover is key to SIRC, Massey said, like opening 38 acquisitions at once with the takeover of US Solar Network — a solar energy and EV Charging Infrastructure company, headed by Pablo Diaz, CEO. Massey said the firm would expand SIRC’s sales by some 50-100% or $50 million per year in incremental growth at 16% gross margins as early as FY 2022.
Led by Diaz, the USA Solar Network has scaled into 38 states and key markets such as Texas, Florida, Illinois, Arizona, Missouri and New Mexico. Massey praised accomplishments of Pablo, particularly completing more than 7,000 solar projects to date, he said, and generating over $40 million in revenue since 2018. Read more about USA Solar Networks here. Solar Integrated Roofing Corp. (OTC PINK: SIRC) Announces A July Sales Jump Of 600% To Record $10.5 Million, Seen As ‘Tip Of The Iceberg’ By Management, Eyeing Company Goal Of $150 Million Annual Sales Run Rate.
Solar Integrated Roofing Corp. (OTC PINK: SIRC) reported its sales reached $10+ million in June 2021, with recently-acquired Future Home Power (FHP) generating volume of $6+ million for the month. Because SIRC’s acquisition of FHP occurred on June 9, not all of its sales during the month will be recorded as SIRC’s sales. SIRC expects its record-breaking expansion and momentum to continue in the months ahead.
Longer term, Massey added in a live Q&A session with shareholders, “I have a vision for SIRC to be a $250 million company making a $25 million profit,” Massey said. Solar Integrated Roofing Corp. (OTC PINK: SIRC) Announces A July Sales Jump Of 600% To Record $10.5 Million, Seen As ‘Tip Of The Iceberg’ By Management, Eyeing Company Goal Of $150 Million Annual Sales Run Rate.
Prior, Massey said in a move designed to grow organic growth from within, SIRC announces plans to acquire multi-media platform Approved Home Pros, and its proprietary Pro Finder tool contractor referral service. The purchase, expected to close by July 31, 2021, is anticipated to drive $11 million in organic volume to SIRC’s annual revenues, the company said.
Approved Home Pros is a multi-platform producer of popular home improvement television and radio shows based around their proprietary Pro Finder contractor screening, vetting and referral services. It is anticipated that it will fuel some $11 million in added organic growth annual revenue in the core categories for SIRC of residential solar and roofing. In addition, Approved Home Pros also drives revenue from TV, radio and other digital platforms in home improvement categories not already serviced by SIRC.
Approved Home Pros TV, Radio and Digital platforms will provide avenues to deliver the marketing message of all the brands in the SIRC family. Approved Home Pros for almost a decade has been providing consumers with home improvement and home maintenance tips, advice and inspiration via television, radio and digital platforms. Consumers use its proprietary “Pro Finder” tool to find an exclusive group of contractors who have passed their own screening and vetting system.
Massey told shareholders that his dream for SIRC is to be a $250 million company with a $25 million profit. More immediately, he said SIRC is on track to reach $150 million in volume in this 2022 FY. Massey emphasized that he believes SIRC is in a great growth space and is focused now on profitability, a national footprint and organic growth.
Internal or organic growth is as important growth strategy for Massey and SIRC, not just growth by acquisition. The Approved Home Pros acquisition is a prime example of its clear strategy for organic growth in the future, as it anticipates $11 million in incremental volume built by leads from that company’s proprietary Pro Finder ‘tool’ to locate and hire contractors who have successfully passed their own screening and vetting system.
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
Join Stock Market Press’ newsletter for the latest in IPO, market commentary and company profiles.
Stock Market Press is a financial news company that delivers up to date stock news, introduces private and public companies to a wide audience of investors, consumers, journalists and the general public via social media and a rapidly expanding network.
Contact:
Stock Market Press
110 Wall St.
New York, NY 10005 info@stockmarketpress.com https://twitter.com/PressStock
Safe Harbor Statement:
Statements in this news release may be ”forward-looking statements.” Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Stock Market Press undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
See Stock Market Press disclaimer: https://stockmarketpress.com/disclaimer/ SOURCE: Stock Market Press
