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Press release content from Business Wire. The AP news staff was not involved in its creation.

The Peck Company Holdings, Inc. Reports Third Quarter 2019 Results, 194% Increase in Revenue

November 12, 2019

SOUTH BURLINGTON, Vt.--(BUSINESS WIRE)--Nov 12, 2019--

The Peck Company Holdings, Inc. (NASDAQ:PECK), a leading commercial solar engineering, procurement and construction (“EPC”) company (the “Company”), today reported results for the third quarter ended September 30, 2019.

Revenue for the quarter ended September 30, 2019 increased 194% to $11.7 million, compared to $3.9 million in the corresponding period in 2018. Higher revenue in the quarter was driven by increased projects.

On a GAAP basis, operating income was $0.179 million or 1.5% of sales, compared to $0.543 million, or 13.9% in the prior year period. Lower operating income was the result of higher depreciation relating to equipment and solar arrays, of which the majority was placed into service for the quarter ended June 30, 2019. In addition, the Company incurred increased expenses associated with becoming a public company on June 20, 2019 and with executing its growth strategy while remaining profitable.

Adjusted EBITDA in the third quarter was $0.431 million, or 3.5% of sales, compared to the prior year period of $0.640 million, or 16% of sales. The decrease as a percentage of sales was the result of the volume of new projects, as revenue recognized prior to breaking ground was mostly attributable to material costs that were booked at lower margin relative to higher margin labor as projects mature. Therefore, the Company expects to see margins increase as projects move toward completion.

The Company continues to construct its energy future as a public company with a three-part growth strategy comprising:

The Company’s Chief Executive Officer, Jeffrey Peck, commented, “We are pleased to report revenue growth of 194% in our last quarter as a public company. We are intensely focused on establishing our Company as the profitable platform for growth with our core solar EPC services, so that we are in the best position to take advantage of opportunities across the entire value chain. Moreover, we have accomplished this without raising equity capital, and we remain confident in executing our plan without the need to raise additional equity capital. The positive momentum since we have gone public reflects our team’s passion to construct our renewable energy future and our commitment to sustaining profitability as we execute our growth plan.”

Third Quarter Results of Operations

Consolidated revenue for the quarter ended September 30, 2019 increased 194% to $11.7 million, compared to $3.9 million in the corresponding period in 2018.

Gross profit increased 30.2% to $1.4 million for the three months ended September 30, 2019, compared to $1.1 million in the corresponding period in 2018. Gross margin as a percentage of sales was 12.30% for the three months ended September 30, 2019, compared to 27.7% in the corresponding period in 2018. Lower gross margin for the three months ended September 30, 2019 was the result of increased material and sub-contractor purchases in the quarter to support planned projects during the Company’s peak season.

Total operating expenses for the three months ended September 30, 2019 were $1.26 million, or 10.7% of sales, compared to $0.6 million in the corresponding period in 2018, or 14.1% of sales. The increase in operating expenses for the three months ended September 30, 2019 was the result of higher depreciation relating to equipment and solar arrays, of which the majority was placed into service for the three months ended September 30, 2019.

Income taxes for the quarter ended September 30, 2019 were $48,688 compared to the corresponding period of $250 in 2018.

Backlog for the three months ended September 30, 2019 was $16 million, compared to the corresponding period in 2018 of $9.25 million. The Company expects to realize nearly all of the backlog within the next 12 months.

Conference Call Information

The Company will host a conference call at 8:15 a.m. ET to discuss its third quarter results. To access the call, participants may dial toll-free at 1-855-327-6837 or 1-631-891-4304 (international) and request to join The Peck Company Holdings, Inc. earnings call.

To listen to a telephonic replay of the conference call, dial toll-free 1-844-512-2921 or 1-412-317-6671 (international) and enter confirmation code 10007978. The telephonic replay will be available beginning at 11:15 a.m. ET on Tuesday, November 12, 2019, and will last through 11:59 p.m. ET on Tuesday, November 26, 2019. The call will also be available for replay via the webcast link on the Company’s Investor Relations website.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as “may,” “should,” “expects,” “could,” “intends,” “plans,” “anticipates,” “estimates,” “believes,” “forecasts,” “predicts” or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, effective tax rate, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.

The forward-looking statements included in this press release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the risk factors described from time to time in our public filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.

All forward-looking statements included in this press release are based on information currently available to us, and we assume no obligation to update any forward-looking statement except as may be required by law.

Certain Non-GAAP Measures

We periodically review the following key non-GAAP measures to evaluate our business and trends, measure our performance, prepare financial projections and make strategic decisions.

EBITDA, Adjusted EBITDA and Earnout Adjusted EBITDA

Included in this presentation are discussions and reconciliations of earnings before interest, income tax and depreciation and amortization (“EBITDA”) and EBITDA adjusted for certain non-cash, non-recurring or non-core expenses (“Adjusted EBITDA”) to net income in accordance with GAAP. Adjusted EBITDA excludes certain non-cash and other expenses, certain legal services costs, professional and consulting fees and expenses, and one-time business combination expenses and certain adjustments. We believe that these non-GAAP measures illustrate the underlying financial and business trends relating to our results of operations and comparability between current and prior periods. We also use these non-GAAP measures to establish and monitor operational goals.

These non-GAAP measures are not in accordance with, or an alternative to, GAAP and should be considered in addition to, and not as a substitute or superior to, the other measures of financial performance prepared in accordance with GAAP. Using only the non-GAAP financial measures, particularly Adjusted EBITDA, to analyze our performance would have material limitations because such calculations are based on a subjective determination regarding the nature and classification of events and circumstances that investors may find significant. We compensate for these limitations by presenting both the GAAP and non-GAAP measures of our operating results. Although other companies may report measures entitled “Adjusted EBITDA” or similar in nature, numerous methods may exist for calculating a company’s Adjusted EBITDA or similar measures. As a result, the methods that we use to calculate Adjusted EBITDA may differ from the methods used by other companies to calculate their non-GAAP measures.

About The Peck Company Holdings, Inc.

Headquartered in South Burlington, VT, The Peck Company Holdings, Inc. is a 2nd-generation family business founded in 1972 and rooted in values that align people, purpose, and profitability. Ranked by Solar Power World as one of the leading commercial solar contractors in the Northeastern United States, the Company provides EPC services to solar energy customers for projects ranging in size from several kilowatts for residential properties to multi-megawatt systems for large commercial and utility scale projects. The Company has installed over 125 megawatts worth of solar systems since it started installing solar systems in 2012 and continues its focus on profitable growth opportunities. Please visit www.peckcompany.com for additional information.

The Peck Company Holdings, Inc.
Condensed Balance Sheets (Unaudited)
September 30, 2019 and December 31, 2018

 

 

September 30, 2019

 

 

December 31, 2018

 

Assets

 

 

 

 

 

 

 

 

Current Assets:

 

 

 

 

 

 

 

 

Cash

 

$

28,700

 

 

$

313,217

 

Accounts receivable, net of allowance

 

 

7,157,760

 

 

 

2,054,413

 

Costs and estimated earnings in excess of billings

 

 

3,427,990

 

 

 

718,984

 

Due from stockholders

 

 

2,858

 

 

 

2,858

 

Other current assets

 

 

210,852

 

 

 

0

 

Total current assets

 

 

10,828,160

 

 

 

3,089,472

 

 

 

 

 

 

 

 

 

 

Property and equipment:

 

 

 

 

 

 

 

 

Building and improvements

 

 

672,727

 

 

 

666,157

 

Vehicles

 

 

1,283,364

 

 

 

1,147,371

 

Tools and equipment

 

 

517,601

 

 

 

493,760

 

Solar arrays

 

 

6,386,025

 

 

 

6,386,025

 

 

 

 

8,859,717

 

 

 

8,693,313

 

Less accumulated depreciation

 

 

(2,037,996

)

 

 

(1,571,774

)

 

 

 

6,821,721

 

 

 

7,121,539

 

Other Assets:

 

 

 

 

 

 

 

 

Captive insurance investment

 

 

140,875

 

 

 

80,823

 

Due from stockholders

 

 

293,000

 

 

 

250,000

 

Cash surrender value - life insurance

 

 

279,219

 

 

 

224,530

 

 

 

 

713,094

 

 

 

555,353

 

Total assets

 

$

18,362,975

 

 

$

10,766,364

 

 

 

 

 

 

 

 

 

 

Liabilities and Stockholders’ Equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current Liabilities:

 

 

 

 

 

 

 

 

Accounts payable

 

$

3,580,982

 

 

$

1,495,785

 

Accrued expenses

 

 

289,002

 

 

 

236,460

 

Billings in excess of costs and estimated earnings on uncompleted contracts

 

 

826,012

 

 

 

180,627

 

Accrued losses on contract in progress

 

 

0

 

 

 

9,128

 

Due to stockholders

 

 

738,347

 

 

 

33,463

 

Line of credit

 

 

5,000,000

 

 

 

972,524

 

Current portion of deferred compensation

 

 

27,057

 

 

 

27,057

 

Current portion of long-term debt

 

 

443,453

 

 

 

410,686

 

Total current liabilities

 

 

10,904,853

 

 

 

3,365,730

 

 

 

 

 

 

 

 

 

 

Long-term liabilities:

 

 

 

 

 

 

 

 

Deferred compensation, net of current portion

 

 

96,546

 

 

 

116,711

 

Deferred tax liability

 

 

1,527,311

 

 

 

0

 

Long-term debt, net of current portion

 

 

2,076,750

 

 

 

2,212,885

 

 

 

 

3,700,507

 

 

 

2,329,596

 

Commitments and contingencies

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stockholders’ equity:

 

 

 

 

 

 

 

 

Preferred stock - $0.0001 par value 1,000,000 shares authorized, 0 issued and outstanding

 

 

0

 

 

 

0

 

Common stock - $0.0001 par value 49,000,000 shares authorized, 5,474,695 shares issued and outstanding and 3,234,301 shares issued and outstanding as of September 30, 2019 and December 31, 2018

 

 

547

 

 

 

323

 

Additional paid-in capital

 

 

423,306

 

 

 

552,630

 

Retained earnings

 

 

3,333,762

 

 

 

4,518,085

 

 

 

 

3,757,615

 

 

 

5,071,038

 

 

 

$

18,362,975

 

 

$

10,766,364

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

 

The Peck Company Holdings, Inc.
Condensed Statements of Operations (Unaudited)
For the three months and nine months ended September 30, 2019 and 2018

 

 

Three Months ended

 

 

Nine Months ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earned revenue

 

$

11,749,580

 

 

$

3,991,209

 

 

 

21,878,170

 

 

$

13,023,359

 

Cost of earned revenue

 

 

10,308,936

 

 

 

2,885,146

 

 

 

17,846,681

 

 

 

9,882,268

 

Gross profit

 

 

1,440,644

 

 

 

1,106,063

 

 

 

4,031,489

 

 

 

3,141,091

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Indirect expenses

 

 

294,154

 

 

 

182,193

 

 

 

1,034,965

 

 

 

534,279

 

General and administrative expenses

 

 

967,196

 

 

 

380,153

 

 

 

1,980,886

 

 

 

1,225,948

 

Total operating expenses

 

 

1,261,350

 

 

 

562,346

 

 

 

3,015,851

 

 

 

1,760,227

 

Operating income

 

 

179,294

 

 

 

543,717

 

 

 

1,015,638

 

 

 

1,380,864

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

(54,671

)

 

 

(49,785

)

 

 

(158,217

)

 

 

(91,639

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

 

124,623

 

 

 

496,932

 

 

 

857,421

 

 

 

1,289,225

 

Provision for income taxes

 

 

48,468

 

 

 

0

 

 

 

1,555,330

 

 

 

250

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

76,155

 

 

$

496,932

 

 

$

(697,909

)

 

$

1,288,975

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

5,474,695

 

 

 

3,234,501

 

 

 

4,071,497

 

 

 

3,234,501

 

Diluted

 

 

5,474,695

 

 

 

3,234,501

 

 

 

4,071,497

 

 

 

3,234,501

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.01

 

 

$

0.15

 

 

$

(0.17

)

 

$

0.40

 

Diluted

 

$

0.01

 

 

$

0.15

 

 

$

(0.17

)

 

$

0.40

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PRO FORMA (C-corporation basis) (Note 1m)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income tax expense

 

$

48,468

 

 

$

137,750

 

 

$

237,677

 

 

$

357,373

 

Net Income

 

 

76,155

 

 

 

359,182

 

 

 

619,744

 

 

 

931,852

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

5,474,695

 

 

 

3,234,501

 

 

 

4,071,497

 

 

 

3,234,501

 

Diluted

 

 

5,474,695

 

 

 

3,234,501

 

 

 

4,071,497

 

 

 

3,234,501

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.01

 

 

$

0.11

 

 

$

0.15

 

 

$

0.29

 

Diluted

 

$

0.01

 

 

$

0.11

 

 

$

0.15

 

 

$

0.29

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

 

The Peck Company Holdings, Inc.
Condensed Statement of Changes in Stockholders’ Equity (Unaudited)
September 30, 2019

 

 

 

 

 

Additional

 

 

 

 

 

 

 

 

 

Common Stock

 

 

Paid-In

 

 

Retained

 

 

 

 

 

 

Shares

 

 

Amounts

 

 

Capital

 

 

Earnings

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2018, as previously reported

 

 

200

 

 

$

6,000

 

 

$

546,953

 

 

$

4,518,085

 

 

$

5,071,038

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retroactive conversion of shares

 

 

3,234,301

 

 

 

(5,677

)

 

 

5,677

 

 

 

0

 

 

 

0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2018, effect of reverse recapitalization

 

 

3,234,501

 

 

 

323

 

 

 

552,630

 

 

 

4,518,085

 

 

 

5,071,038

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash distributions to stockholders in 2019 prior to June 20

 

 

0

 

 

 

0

 

 

 

0

 

 

 

(486,414

)

 

 

(486,414

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Conversion of Jensyn shares

 

 

2,240,194

 

 

 

224

 

 

 

890,610

 

 

 

0

 

 

 

890,834

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(774,064

)

 

 

(774,064

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recapitalization costs

 

 

0

 

 

 

0

 

 

 

(1,019,934

)

 

 

0

 

 

 

(1,019,934

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2019, as previously reported

 

 

5,474,695

 

 

 

547

 

 

 

423,530

 

 

 

3,257,607

 

 

 

3,681,684

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recapitalization costs

 

 

 

 

 

 

 

 

 

 

(224

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

76,155

 

 

76,155

Ending Balance, September 30, 2019

 

 

5,474,695

 

 

$

547

 

 

$

423,306

 

 

$

3,333,762

 

 

$

3,757,615

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

 

The Peck Company Holdings, Inc.
Condensed Statements of Cash Flows (Unaudited)
For the Nine Months Ended September 30, 2019 and 2018

 

 

September 30, 2019

 

 

September 30, 2018

 

Cash flows from operating activities

 

 

 

 

 

 

 

 

Net (loss) income

 

$

(697,909

)

 

$

1,288,975

 

 

 

 

 

 

 

 

 

 

Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:

 

 

 

 

 

 

 

 

Depreciation

 

 

466,222

 

 

 

296,125

 

Provision for deferred income taxes

 

 

1,527,311

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

 

Accounts receivable

 

 

(5,103,347

)

 

 

391,852

 

Prepaid expenses

 

 

(210,852

)

 

 

(63,340

)

Costs and estimated earnings in excess of billings

 

 

(2,709,006

)

 

 

404,099

 

Cash surrender value - life insurance

 

 

(54,689

)

 

 

0

 

Accounts payable

 

 

2,085,197

 

 

 

(1,290,484

)

Accrued expenses

 

 

52,542

 

 

 

(176,957

)

Billings in excess of costs and estimated earnings on uncompleted contracts

 

 

645,385

 

 

 

(254,183

)

Accrued losses on contract in progress

 

 

(9,128

)

 

 

0

 

Due to stockholders

 

 

438,070

 

 

 

0

 

Deferred compensation

 

 

(20,165

)

 

 

0

 

Net cash (used in) provided by operating activities

 

 

(3,590,369

)

 

 

596,087

 

 

 

 

 

 

 

 

 

 

Cash flows from investing activities:

 

 

 

 

 

 

 

 

Purchase of solar arrays and equipment

 

 

(39,243

)

 

 

(2,587,041

)

Loan to stockholder

 

 

(43,000

)

 

 

(250,000

)

Investment in captive insurance

 

 

(60,063

)

 

 

(43,340

)

Net cash used in investing activities

 

 

(142,295

)

 

 

(2,880,381

)

 

 

 

 

 

 

 

 

 

Cash flows from financing activities:

 

 

 

 

 

 

 

 

Net borrowings (repayments) on line of credit

 

 

4,027,476

 

 

 

1,233,836

 

Proceeds from long-term debt

 

 

0

 

 

 

645,525

 

Payments of long-term debt

 

 

(230,629

)

 

 

0

 

Recapitalization costs paid

 

 

(129,100

)

 

 

0

 

Stockholder distributions paid

 

 

(219,600

)

 

 

(137,494

)

Net cash provided by financing activities

 

 

3,448,147

 

 

 

1,741,867

 

Net decrease in cash

 

 

(284,517

)

 

 

(542,427

)

Cash, beginning of quarter

 

 

313,217

 

 

 

760,781

 

Cash, end of quarter

 

$

28,700

 

 

$

218,354

 

 

 

 

 

 

 

 

 

 

Supplemental disclosure of cash flow information

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash paid during the year for:

 

 

 

 

 

 

 

 

Interest

 

$

158,217

 

 

$

91,639

 

Income taxes

 

 

5,859

 

 

 

250

 

Supplemental disclosure of non-cash investing and financing activities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2019

 

 

 

 

 

 

 

 

Four vehicles were purchased and financed for $127,161.

 

 

 

 

 

 

 

 

The Company accrued S-corporation distributions which have not been paid of $266,814.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2018

 

 

 

 

 

 

 

 

One vehicle was purchased and financed for $39,790

 

 

 

 

 

 

 

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

 

The reconciliations of EBITDA, Adjusted EBITDA to net (loss) income, the most directly comparable financial measure calculated and presented in accordance with GAAP, are shown in the table below:

 

 

Three months ended
September 30,

 

 

Nine months ended
September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Net income (loss)

 

$

76,155

 

 

$

496,932

 

 

$

(697,909

)

 

$

1,288,975

 

Depreciation and amortization

 

 

155,169

 

 

 

96,329

 

 

 

466,222

 

 

 

296,125

 

Other (income) expense, net

 

 

54,671

 

 

 

46,785

 

 

 

158,217

 

 

 

91,639

 

Income Tax

 

 

48,468

 

 

 

0

 

 

 

1,555,330

 

 

 

250

 

EBITDA

 

 

334,643

 

 

 

640,046

 

 

 

1,481,860

 

 

 

1,676,989

 

Other costs

 

 

78,388

 

 

 

0

 

 

 

243,819

 

 

 

0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted EBITDA

 

 

413,031

 

 

 

640,046

 

 

 

1,725,679

 

 

 

1,676,989

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average shares outstanding

 

 

5,474,695

 

 

 

3,234,501

 

 

 

4,071,497

 

 

 

3,234,501

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted EPS

 

 

0.08

 

 

 

0.20

 

 

 

0.42

 

 

 

0.52

 

Other costs consist of one-time expenses of financial audits and other legal and professional fees associated with the Company’s business combination transaction in June 2019. 

View source version on businesswire.com:https://www.businesswire.com/news/home/20191112005611/en/

CONTACT: IR Contact:J. Charles Assets

Jay Hetrick

407-627-0169

jayhetrick@jcharlesassets.com

JCharlesAssets.com

KEYWORD: UNITED STATES NORTH AMERICA VERMONT

INDUSTRY KEYWORD: ALTERNATIVE ENERGY ENERGY UTILITIES

SOURCE: The Peck Company Holdings, Inc.

Copyright Business Wire 2019.

PUB: 11/12/2019 08:15 AM/DISC: 11/12/2019 08:15 AM

http://www.businesswire.com/news/home/20191112005611/en