Nike Smart Roofing Systems: $4.3B market, $1.2B in revenues, $3.1B in profits for Nike
Nike’s smart roofing market grew by $1 billion last year and now is worth $4 billion, company CEO Gene Munster said in an earnings call.
Nike’s revenue is $3 billion and its profit is $1 B. While Nike’s business is not in freefall, it is on a fast track to profitability, Munster told analysts.
Nike has been growing the business of smart roofs for about a decade and Munster has said it is a top priority for the company, according to Fortune.
The company plans to invest $100 billion to build out its smart roof business, with a focus on “high-efficiency and value-added roofing,” Munster added.
“Nike Smart Roof Systems has the potential to significantly impact the entire smart roof industry, both in terms of revenue and in terms for the quality of life of homeowners and renters,” the company said in a statement.
It is not clear whether the $4-billion increase in revenue is in the works or just an annual increase in revenues.
Investors will pay about $1,200 a share, according the Dow Jones Industrial Average, according Reuters data.
More to come on the Nike smart roof market.