Solar Integrated Roofing Corp. (OTC PINK: SIRC) Announces 50+% Jump In YOY Revenue To $3.3 Million For September And October 2020 And Anticipates Record Breaking Q3 Driven By Cross-Selling Across Solar, Battery Backup, Roofing And HVAC

Solar Integrated Roofing Corp. (OTC PINK: SIRC) announced today (November 18, 2020) a 50+% spike in volume YOY in September and October with sales of $3.3 million and anticipates a record-breaking Q3. The sales jump was highly profitable with the Company expecting a 40% gross margin for both months combined.

stockmarketpress.com features specialized coverage of related stocks in the solar industry such as Solar Integrated Roofing Corp. (OTC PINK: SIRC), SolarEdge Technologies, Inc. (NASDAQ: SEDG), First Solar, Inc. (NASDAQ: FSLR), Tesla, Inc. (NASDAQ: TSLA), SunPowerCorp. (NASDAQ: SPWR), Canadian Solar Inc. (NASDAQ: CSIQ) and Vivint Solar Inc. (NYSE: VSLR).

Solar Integrated Roofing Corp. (OTC PINK: SIRC) Announces 50+% Jump In YOY Revenue To $3.3 Million For September And October 2020 And Anticipates Record Breaking Q3 Driven By Cross-Selling Across Solar, Battery Backup, Roofing And HVAC

David Massey, CEO of Solar Integrated Roofing Corp. (OTC PINK: SIRC), said, "With supportive industry trends driving increased solar adoption and our significant cross selling opportunities across solar, battery backup installation, roofing and related HVAC/electrical contracting work, we have driven what I expect to be a record third quarter, with year-over-year revenue growth in excess of 50% to $3.3 million at an expected 40% gross margin for the months of September and October 2020."

Massey Is Optimistic About 30-Day Joint Venture Agreement

Massey is optimistic about the potential of a future acquisition of Enerev, LLC. Solar companies Solar Integrated Roofing Corp. (OTC PINK: SIRC) and Enerev, LLC, announced on November 12 this year that they have signed a 30-day joint venture agreement to ensure a correct fit and successful combination if SIRC acquires Enerev in the future. The joint venture agreement is designed to ensure both companies will strategically align marketing, sales and operations of a combined business.

"As we continue to achieve scale through acquisition, such as our recently announced HVAS acquisition or potential future Enerev acquisition after the completion of our 30-day joint venture," Massey said, adding, "I would expect continued record-breaking results for us as we fully realize the immense cross-selling benefits that face us today." Solar Integrated Roofing Corp. (OTC PINK: SIRC) Announces 50+% Jump In YOY Revenue To $3.3 Million For September And October 2020 And Anticipates Record Breaking Q3 Driven By Cross-Selling Across Solar, Battery Backup, Roofing And HVAC.

Completing More Than 9,000 Solar Energy Systems Installations

Solar Integrated Roofing Corp. (OTC PINK: SIRC) is an integrated, single-source solar power and roofing systems insulation company growing both organically and via acquisitions. Massey was referring to its 30-day joint venture agreement with Enerev. Enerev has completed more than 9,000 solar energy system installations in residential and commercial properties in California and is now looking at opportunities in the Phoenix, Arizona metropolitan area.

Joint Venture Agreement Is Opportunity For Both Teams To Work Together

Massey added, "Enerev is a market leader with best-in-class business development and solar energy systems installers with over 30 years of combined experience in the solar industry and a wide residential and commercial customer base. The company is expected to generate revenues of more than $2 million per month over the next 12 months. This initial joint venture is an excellent opportunity for both teams to work together as we pursue the intended acquisition."

$40+ Million Volume For SIRC Seen In Fiscal 2022

SIRC is also expanding and projects that its fast-track growth in the California residential market anticipates will generate greater than $40 million in fiscal 2022 revenues. In the current 2021 fiscal year, SIRC forecasts it would report $20 million in volume for the year ended February 28, 2021. Learn more about both companies at Solar Integrated Roofing Corp. (OTC PINK: SIRC) and Enerev LLC.

Massey, CEO of Solar Integrated Roofing Corp (OTC PINK: SIRC), said, "Our business strategy has always been to expand beyond Southern California and become an industry leader at the national level." He said that his Company is currently exploring five additional metropolitan areas for future expansion locations. Solar Integrated Roofing Corp. (OTC PINK: SIRC) Announces 50+% Jump In YOY Revenue To $3.3 Million For September And October 2020 And Anticipates Record Breaking Q3 Driven By Cross-Selling Across Solar, Battery Backup, Roofing And HVAC.

SIRC Is Expanding Into Albuquerque/Santa Fe Metropolitan Market In New Mexico

Solar Integrated Roofing Corp. (OTC PINK: SIRC) is also growing from its base in Southern California. The company is now expanding into the Albuquerque/Santa Fe metropolitan market in New Mexico with its recent partnership with SunPower Corporation as a premier dealer in the New Mexico market.

For SIRC, this expansion is low cost because SIRC will utilize the company's online infrastructure and virtual sales office. With a market of 1.1 million new customers and only a 5% penetration rate of solar energy from residential and commercial markets, this is an area ripe with opportunity. Solar Integrated Roofing Corp. (OTC PINK: SIRC) Announces 50+% Jump In YOY Revenue To $3.3 Million For September And October 2020 And Anticipates Record Breaking Q3 Driven By Cross-Selling Across Solar, Battery Backup, Roofing And HVAC.

Research: 'Demand For Solar Cells Has Gained Major Traction'

Research studies find that global solar is growing fast. Allied Market Research projects that worldwide global solar market is growing at a 20.5% CAGR to USD $223.3 Billion By 2026. The report states, "The demand for solar cells has gained major traction in owing to surge in rooftop installations, followed by increase in applications in the architectural sector." According to a new (November 2020) study by Fortune Business Insights, the global solar market the global solar market size is projected to be USD $194.75 Billion by 2027, growing at a CAGR of 5.9% during the forecast period from 2020-2027.

Solar Integrated Roofing Corp. (OTC PINK: SIRC) is moving quickly to grow in the solar installer marketplace. SIRC recently acquired solar installers McKay Roofing and Milholland Solar and Electric Roofing.

Source: Stock Market Press

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