JanOne Expects Revenue Push From ARCA Recycling's Appliance Replacement Contracts

JanOne Inc JAN stated subsidiary ARCA Recycling, Inc. had seen growth in its appliance replacement programs throughout the past 12 months, with the addition of new contracts signed this year that total more than $3 million.
The new contracts are expected to increase ARCA's revenue from the replacement programs to ~$20 million in 2021. ARCA implements its appliance replacement programs in single- and multi-family residences.
ARCA Recycling's appliance replacement programs remove older, inefficient refrigerators, freezers, air conditioners, clothes washers, and other major appliances, replacing them with ENERGY STAR-certified models.
ARCA Recycling operates over 40 replacement programs throughout the U.S. and Canada, with roughly 30,000 appliances replaced annually.
Price Action: JAN shares closed higher by 1.46% at $6.26 on Tuesday.