Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sales In June Hit $10+ Million Volume With Recently Acquired Future Home Power Generating Volume Of $6+ Million AS SIRC Makes Progress Towards Goal Of $100 Million In Annualized Sales By May 31, 2022
Solar Integrated Roofing Corp. (OTC PINK: SIRC) reports today (July 14, 2021) that its sales reached $10+ million 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 as it progresses towards its volume guidance of reaching $100 million in 12 month sales by May 31, 2022.
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) Sales In June Hit $10+ Million Volume With Recently Acquired Future Home Power Generating Volume Of $6+ Million AS SIRC Makes Progress Towards Goal Of $100 Million In Annualized Sales By May 31, 2022
David Massey, CEO of SIRC, said, “The rapid pace of immediately accretive acquisitions during the year significantly increased our month-to-month sales figures. This milestone stands as a testament to the value inherent to our historical rollup strategy, as sales in acquired companies often outpaced expectations. In the near term, with our most pressing acquisitions complete, we will turn our focus to optimizing profitability within the SIRC family of companies. I believe we are well positioned for continued operational execution in the strong seasonal months ahead, creating sustainable value for our shareholders over the long term.”
Massey attributed the sales performance of FHP to its lead generation capabilities. Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sales In June Hit $10+ Million Volume With Recently Acquired Future Home Power Generating Volume Of $6+ Million AS SIRC Makes Progress Towards Goal Of $100 Million In Annualized Sales By May 31, 2022.
Solar Integrated Roofing Corp. (OTC PINK: SIRC) yesterday, on July 13, 2021, announced it signed a purchase agreement to acquire USA Solar Network LLC, a solar energy and EV Charging Infrastructure Company, enabling to expand its sales by 50-100% growth or $50 million per year in incremental growth at 16% gross margins as early as FY 2022. Led by Pablo Diaz, CEO, USA Solar Network has scaled into 37 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. SIRC believes the acquisition will enable it to achieve 50-100% incremental residential and commercial sales at 16% gross margins in FY 2022. Read more about USA Solar Networks here.
Solar Integrated Roofing Corp. (OTC PINK: SIRC), reported volume for the 2021 FY jumped 87% to a record $17.1 million and gross profit rocketed ahead 144% to $3.5 Million. In addition, SIRC reaffirmed its future volume guidance of reaching profitability in FY 2022 and to hit its guidance volume of $100 Million in the 12 months ended May 31, 2022. Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sales In June Hit $10+ Million Volume With Recently Acquired Future Home Power Generating Volume Of $6+ Million AS SIRC Makes Progress Towards Goal Of $100 Million In Annualized Sales By May 31, 2022.
David Massey, CEO of SIRC, said, “Fiscal 2021 was a record year for Solar Integrated Roofing and we believe we have positioned the Company for an even more exciting fiscal 2022. Over the course of the year our team has worked tirelessly to integrate our acquisitions and continues to seek new opportunities for growth. The solar, roofing and battery market continues to grow, and our brands are capturing additional market share. With our exceptional portfolio of companies and ongoing organic growth, we look forward to sharing our future achievements with our shareholders.”
He added, “The acquisitions drove annual revenues to a record $17.1 million and set us on a course to achieve at least $100 million in the twelve months ended May 31, 2022. Our focus on rapidly growing, high margin acquisitions has significantly grown sales, allowed us to now capture the full lifecycle of our customers, and brought new synergies and efficiencies across the SIRC family of companies. Due to this, we expect to achieve profitability in FY 2022.”
In FY 2021, SIRC acquired Future Home Power, Balance LLC, Pacific Lighting Management or PLEMCo., Cornerstone Construction and Enerev LLC. All of them are in the solar, roofing, battery storage and back office space.
Massey noted that this accelerated pace of acquisitions has grown SIRC into a national firm: “Our success has transformed our company into a national brand with services now spanning solar, battery backup, EV charging, roofing installation, HVAC work, electrical contracting and back-office technology support.” Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sales In June Hit $10+ Million Volume With Recently Acquired Future Home Power Generating Volume Of $6+ Million AS SIRC Makes Progress Towards Goal Of $100 Million In Annualized Sales By May 31, 2022.
Earlier Massey said, “We accelerated our rapid pace of acquisitions in 2021, rolling up roofers as well as solar and battery installers — creating a true platform company with the back office and sales capabilities to scale nationwide. When taking into account our recently acquired companies, we’ve built a significant customer base across the SIRC family of companies. While there is seasonality inherent to our business and the revenue will not be divided evenly month to month, we expect that we will generate at least $100 million of revenue over the next 12 months with the acquisitions we have announced to date.”
If SIRC Further Populates Its Acquisition Pipeline, The $100 Million Guidance Figure Could Grow
Massey added, “We are realizing both acquisitive and organic growth on all fronts while minimizing dilution. Looking ahead, we continue to populate our acquisition pipeline which could further grow this $100 million revenue guidance figure. I look forward to continued operational execution in the months ahead, working closely with our team to create sustainable value for our shareholders over the long-term.”
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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