Full-Service Firms. Due to varied participation related to the coronavirus pandemic, only projected and actual revenue figures from firms who participated in both 2019 and 2020 are represented below. Among this cohort, full-service firms outperformed projections in 2019. On average, firms earned over 7% more revenue in 2019 than projected, with the top third of full-service firms earning almost 10% more than projections. Firms anticipate revenue growth to expand further in 2020, though many of the projections likely do not account for the effect of COVID-19 on business.
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Actual vs. Projected Revenues of Full-Service Remodelers
Replacement and Specialty Firms. Due to varied participation related to the coronavirus pandemic, only projected and actual revenue figures from firms that participated in both 2019 and 2020 are represented below. Among this cohort, firms underprojected revenues in 2019 and earned on average 14% more than they projected in 2018. Many expect the good times to continue to roll, with all firms predicting revenue to increase in 2020. Many of the revenue projections, however, were submitted prior to the widespread disruption from COVID-19, and in follow-up emails, many firms indicated to remodeling the pandemic would cause them to downwardly revise their revenue projections.
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Actual vs. Projected Revenue of Replacement and Specialty Firms
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