Microcap Heading to Senior Exchange; Sets Sights on Record Revenues for 2022

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Wednesday, November 9, 2022

Entering the first full week of November, about 85 percent of the S&P 500 constituents have reported earnings from the recent quarter, with estimates pointing to an aggregate 2.1% year-over-year growth during the third quarter, according to data from FactSet. Although the latest iteration of earnings season is winding down, there are still plenty of companies left to report lending to market direction this week in combination with some important economic reports from Washington.

Toss in Tuesday’s elections and it will be an event-filled week as the Dow Jones Industrial Average looks to rebound from its first down week in five.

Later on in the month, investors will be looking for news from Solar Integrated Roofing Corp. (OTCPK: SIRC) with respect to performance during its latest quarter. Headquartered in Henderson, Nevada, SIRC is an integrated, single-source solar power, roofing systems installation and EV charging company specializing in commercial and residential properties throughout the U.S. A barrage of acquisitions in the last year or so is paying off for SIRC, which has reported tremendous growth this year as the family of assets delivers strong results.

To keep things in perspective, understand that it is not uncommon for small companies to boast “triple-digit” revenue growth while trying to quietly slide the details under the headline. Triple-digit growth really doesn’t mean too much when revenue rises from $1,000 to $4,000 in a quarter.

It does matter, however, when year-over-year sales surge 746% from $7.8 million to $66.3 million during a quarter, as they did for Solar Integrated Roofing Corp. during the second quarter. Moreover, the company was profitable, reporting net income during Q2 of $18.9 million, or 4 cents per basic and diluted share, reversing a net loss of $3.3 million, or 1 cent per basic and diluted share, in the year prior quarter.

In a recent interview with Stuart Smith of SmallCapVoice.com, SIRC CEO David Massey made it clear that he expects the second half of 2022 to be even better than the first.

SIRC’s expansion is capitalizing on a U.S. solar power market that IBIS World estimates to grow 27.3% this year to $16.9 billion.

As it continues executing on organic growth and more via accretive acquisitions, SIRC is positioning for listing upgrades, first to the OTCQB or OTCQX and then to a national exchange (i.e., Nasdaq or NYSE). A key to meeting financial goals, the uplist, and moving the pipeline along is raising capital, for which Solar Integrated Roofing this month appointed Stefan Abbruzzese as President. Abbruzzese, who Massey describes as a “great leader” amongst other things, is an accomplished operations executive and expert in lending.

Lending is critical in the solar market, so the addition of Abbruzzese should be instrumental in SIRC growth and funding installations. Even though SIRC has had record revenues this year, Massey thinks his business is just starting to hit its stride. “2023 could be twice as good as 2022,” he told Smith, giving investors plenty to mull over and be excited about for the foreseeable future.

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Solar Integrated Roofing Corp. (OTC: SIRC) Full Corporate Write-Up: Click Here.

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