The Peck Company Holdings Provides Additional COVID-19 Update Stating it’s Back to 100% Working Capacity & No Contract Canc...
June 25 2020 - 8:30AM
Business Wire
Active Pipeline of $40 Million
The Peck Company Holdings, Inc. (NASDAQ: PECK) (the “Company” or
“Peck”), a leading commercial solar engineering, procurement and
construction (EPC) company, is pleased to provide a second update
regarding Peck’s response to the COVID-19 pandemic.
Despite the uncertain conditions of the ongoing COVID-19
pandemic, Peck continued to provide service and maintenance in
support of critical infrastructure including utilities and
telecommunications. On May 1, 2020, Vermont Gov. Phil Scott
announced steps to reopen some of Vermont's pandemic-stricken
economy if safety requirements were met. If additional safety
measures were implemented by certain companies, including Peck,
then full capacity could be resumed by May 11, 2020. Given Peck’s
commitment and efforts with its safety program, the Company has
been able to resume 100% operations for our field staff while
continuing to offer remote work options to our office
personnel.
The Peck Company Holdings Chief Executive Officer, Jeffrey Peck,
commented, “As a Company with an almost 50 year history, the last
few months have been an extraordinary and challenging moment that
was impossible to foresee. We prioritized the health and safety of
our employees, worked diligently to support our long-term customers
and vendors and adhered to the guidance provided by the State of
Vermont. Fortunately, we are slowly beginning our transition back
to normalcy in our business environment. Moreover, our ongoing
projects have resumed operations and are nearing completion. We
have several projects that were delayed due to the pandemic but we
do anticipate receiving notice to proceed in the near future. We
believe that many factors have contributed to our perseverance
through difficult times in the past and present and can also
provide confidence for the future. The combination of the solar
industry’s resilience, our fiscal responsibility, our strong
customer relationships, and the tenacity of our employees to
complete the projects that we start are all reasons for all of us
at Peck to be proud and grateful.”
Peck has an active pipeline of solar projects over $40 million
and anticipates that any project delays from mandatory work
restrictions during COVID-19 will shift into workflows later this
year if the Company is allowed to remain at full capacity in the
field.
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 in 2012 and continues its focus
on profitable growth opportunities. Please visit
www.peckcompany.com for additional information.
Forward Looking
Statements
This press release includes forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, 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 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20200625005141/en/
Michael d’Amato IR@peckcompany.com p802-264-2040
ClearThink nyc@clearthink.capital
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