Latest Breaking News On - கருவாலி மரம் கட்டுமானம் சேவைகள் - Page 1 : vimarsana.com
iSun reports Q2 revenue way up, gross profit down from last year
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US ROUND-UP: Tri Global sells another solar project to Leeward, Inovateus releases sustainability report, iSun appoints new utility-scale lead
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Image: iSun
Solar contractor iSun’s pre-tax earnings fell further at the start of 2021 compared to the same period last year, while its gross margin took a hit due to project delays brought on by COVID-19.
EBITDA for the first three months of the year stood at -US$1.4 million, down from -US$340,000 during the first quarter of 2020.
Gross margin, likewise was 1.6% in the three months ended March 31, 2021 compared to 7.9% year-on-year. This, the company said, was driven by a “significant material issue” on one of the company’s sites, which resulted in additional modifications and higher construction costs.
Additionally, the restrictions on working and movement caused some job sites to shut down.
Related Company:
Vermont Business Magazine iSun, Inc (NASDAQ: ISUN), a leading solar energy and clean mobility infrastructure company with 50 years of construction experience for solar, electrical and data services, has announced results for the first quarter of 2021 and provided an update to its full year 2021 outlook.
Highlights
Record first quarter revenue of $7.3 million, up 82.2% year-over-year, driven by new contract wins and solid market fundamentals.
Acquired iSun Energy, LLC in January 2021, providing deep relationships in solar industry and expansion into e-mobility market; subsequently rebranded company under the iSun name.
Enhanced e-mobility exposure with investments in Gemini and AmpUp.
Expanded presence into utility-scale solar market through the acquisition of the Intellectual Property of OCS, significantly expanding the company’s total addressable market.
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