Cabinet Sales in the United States Increased 19.7% in July

Rhea-AI Summary

New America Energy Corp. (OTC PINK:NECA) announced a 19.7% increase in cabinet sales across the U.S. compared to July 2021, according to the Woodworking Network. The surge in sales spans all segments, particularly in-stock sales, which rose 18.4% year-to-date. CEO David Fair stated that the demand remains strong despite supply chain challenges. Third Bench Holdings, a subsidiary of NECA, had revenues of around $24 million in 2021 and is actively pursuing additional acquisitions.

Positive

• 19.7% increase in cabinet sales in July compared to 2021.
• 18.4% rise in in-stock sales year-to-date 2022.
• Strong market demand confirmed by CEO David Fair.
• Third Bench generated approximately $24 million in revenue in 2021.

Negative

• None.

NEW YORK, NY / ACCESSWIRE / September 27, 2022 / New America Energy Corp. (OTC PINK:NECA), and its operating subsidiary, Third Bench Holdings, LLC ("Third Bench" or the "Company"), are pleased to report that, according to the Woodworking Network, cabinet sales in the United States rose 19.7% in July compared to 2021 figures.

The increase in sales was across all segments, including custom, semi-custom and stock sales.

Sales increases were especially strong for in-stock sales, with an increase of 18.4% year to date 2022, compared to the same period in 2021. The Company currently generates the majority of its retail revenue through in stock and semi-custom sales.

According to the Company's CEO, David Fair, "These numbers confirm what we have been seeing internally. Demand remains very strong in our markets. It is nice to see the continued growth in our industry, despite the supply chain and other issues that were present for much of the recent period."

About Third Bench Holdings, LLC

Third Bench, subsidiary of New America Energy Corp., operates five subsidiary companies operating as architectural millwork and dealers in the cabinetry, kitchen and bath areas. Third Bench, through its subsidiary companies, offers products in these categories: residential cabinets and countertops and commercial millwork throughout the Western U.S. for customers from California to Texas. Third Bench also provides installation services as a part of its vertical offering. Third Bench employs over 130 people and had revenue of about $24 million in 2021. These projections have been provided by management and do not include the additional acquisitions that are currently under review.

Third Bench Holdings, LLC
175 S. Main Street #1410
Salt Lake City, UT 84111
https://thirdbench.com/

NECA Contact:
Investor Relations
info@thirdbench.com
https:/twitter.com/necaholdings

Safe Harbor

This release may contain certain forward-looking statements regarding our prospective performance and strategies 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. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, and expectations of our company, are generally identified by use of words "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "seek," "strive," "try," or future or conditional verbs such as "could," "may," "should," "will," "would," or similar expressions. Our ability to predict results or the actual effects of our plans or strategies is inherently uncertain. Accordingly, actual results may differ materially from anticipated results. Some of the factors that could cause our actual results to differ from our expectations or beliefs include, without limitation, the risks discussed from time to time in our filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Except as required by applicable law or regulation, we undertake no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made.

SOURCE: New America Energy Corp.

View source version on accesswire.com:
https://www.accesswire.com/717551/Cabinet-Sales-in-the-United-States-Increased-197-in-July

FAQ

What are the recent sales figures for New America Energy Corp. (NECA)?

New America Energy Corp. reported a 19.7% increase in cabinet sales in July 2022 compared to July 2021.

How have in-stock cabinet sales performed for NECA in 2022?

In-stock sales for NECA rose 18.4% year-to-date 2022 compared to the same period in 2021.

What is the revenue of Third Bench Holdings, a subsidiary of NECA?

Third Bench Holdings generated approximately $24 million in revenue in 2021.

What challenges is New America Energy Corp. facing?

The company faces supply chain challenges, but demand remains strong in its markets.