I agree. A/R is what’s keeping this down. I’m still positive this company will do good but my time for that has changed to be further out. We have to deal with his used car dealership until the new guy takes over. I’m hoping this new leadership really does have the goods to make this a profitable business. Time will tell.
Outstanding A/R being high in any construction is the norm. Payments are authorized based on the progress and final of the project. The profits are always in the final payment as the payments through the project are usually not enough to cover materials and labor. In my experience with financed solar there is only a single lump payment at final and no phased payments during the project, so the installer must front all expenses. This just means a lot of projects are in progress.
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