Shoals Earnings Reports

Shoals Technologies Group delivered strong second-quarter results, exceeding revenue guidance and achieving a record backlog. The company's focus on core domestic utility-scale markets and growth initiatives contributed to an 11.7% increase in revenue year-over-year. Despite a decline in gross margin due to strategic pricing and product mix, net income and EPS saw increases. The company also raised its full-year 2025 revenue outlook, reflecting confidence in the demand environment.

Shoals Technologies Group, Inc. reported a strong start to 2025, with revenue exceeding guided ranges and a robust increase in backlog and awarded orders, driven by strategic initiatives and growth in international, CC&I, BESS, and OEM markets.

Shoals Technologies Group reported Q4 2024 revenue of $107.0 million and net income of $7.8 million. The company faced challenges due to an unpredictable year for the US utility scale solar industry, but implemented operational and commercial process improvements. They finished the year at the high end of their previously guided range with a book to bill of 1.4.

Shoals Technologies Group reported a revenue decrease of 24% to $102.2 million compared to the prior-year period. The company experienced a net loss of $0.3 million, but adjusted EBITDA decreased to $24.5 million. Despite challenges, Shoals raised the midpoint of its full-year revenue outlook.

Shoals Technologies Group reported a decrease in revenue for the second quarter of 2024, primarily due to project delays. Despite this, the company saw an increase in backlog and awarded orders. They are adjusting their full-year outlook due to uncertainty and volatility in the market.

Shoals Technologies Group, Inc. announced its first quarter results ended March 31, 2024. The company's revenue was $90.8 million, and net income was $4.8 million. Backlog and awarded orders increased by 17% year-over-year to $615.2 million.

Shoals Technologies Group, Inc. announced a 38% year-over-year increase in revenue for the fourth quarter of 2023, reaching $130.4 million. The company's backlog and awarded orders also increased by 47% year-over-year to $631.3 million. However, the company anticipates a softer first half of 2024 due to project delays caused by sustained higher interest rates.

Shoals Technologies Group, Inc. reported a 48% year-over-year increase in revenue, reaching a record $134.2 million for the third quarter of 2023. However, gross margin was significantly impacted by $50.2 million in wire insulation shrinkback expenses, resulting in a net loss of $(9.8) million. Adjusted EBITDA increased by 81% year-over-year to $48.0 million, and backlog and awarded orders grew by 34% year-over-year to $633.3 million.

Shoals Technologies Group, Inc. announced strong second-quarter results, with record revenue of $119.2 million, a 62% increase year-over-year. System Solutions revenue grew by 80%, representing 86% of total revenue. The company also signed a landmark 10-gigawatt master supply agreement with Blattner Company, and backlog and awarded orders increased by 67% to $546.1 million.

Shoals Technologies Group reported an exceptional first quarter with record revenue of $105.1 million, a 55% increase year-over-year. System Solutions revenue nearly doubled, contributing to a significantly higher gross margin of 45.9%. Backlog and awarded orders reached a record $527.5 million, reflecting continued robust demand.

Shoals Technologies Group, Inc. reported record revenue, gross profit, and net income in Q4 2022. Revenue increased by 97% year-over-year to $94.7 million, driven by higher sales volumes and demand for the company's system solutions. Gross margin expanded significantly, and backlog and awarded orders grew by 43% to $428.6 million.

Shoals Technologies Group, Inc. reported a strong third quarter with record revenue of $90.8 million, a 52% increase year-over-year, driven by higher sales volumes and initial sales of EV solutions products. The company's backlog and awarded orders increased 74% year-over-year to $471.2 million. The company is raising the low end of its 2022 outlook to reflect recent performance and improving business conditions.

Shoals Technologies Group, Inc. reported a 23% year-over-year increase in revenue to a record $73.5 million for the second quarter of 2022. The company also achieved a record gross profit of $28.6 million. Backlog and awarded orders increased by 63% year-over-year to a record $327.2 million.

Shoals Technologies Group, Inc. announced its first quarter 2022 financial results, with revenue reaching a record $68.0 million, a 49% increase year-over-year. The company's gross margin expanded to 38.7%, and backlog and awarded orders rose by 67% to $302.3 million. Despite industry challenges, Shoals reaffirmed the low end of its revenue outlook for the year.

Shoals Technologies Group, Inc. announced record revenue of $48.0 million for the fourth quarter of 2021, a 24% increase compared to the prior-year period. The growth was driven by a 29% increase in System Solution revenue and a 15% increase in Components revenue. The company's backlog and awarded orders reached a record $299.0 million, nearly double the previous year.

Shoals Technologies Group reported a 14% year-over-year increase in revenue, reaching a record $59.8 million for the third quarter of 2021. The company's backlog and awarded orders also reached a record $270.7 million, up 101% year-over-year. The acquisition of ConnectPV was completed during the quarter, expanding Shoals' product portfolio into energy storage.

Shoals Technologies Group reported a record second quarter with a 38% year-over-year revenue increase to $59.7 million. System solutions revenue grew 62% and gross profit margin expanded by over 500 basis points. The company reaffirmed its 2021 outlook.

Shoals Technologies Group reported a 21% increase in revenues and expanded adjusted EBITDA margins by more than 900 basis points for the full year 2020. In Q4, revenues reached $38.8 million, and gross profit increased by 19.0% to $14.8 million, with gross margin expanding to 38.3%.