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Jun 30, 2022
Shoals Q2 2022 Earnings Report
Reported record revenue and gross profit, driven by growth in both Components and System Solutions, and backlog and awarded orders increased.
Key Takeaways
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.
Revenue grew 23% year-over-year to a record $73.5 million.
Record gross profit of $28.6 million was achieved.
Backlog and awarded orders increased 63% year-over-year to a record $327.2 million.
System Solutions represented 77% of revenue in the second quarter.
Shoals
Shoals
Forward Guidance
The Company continues to expect revenues to be in the range of $300 million to $325 million, Adjusted EBITDA to be in the range of $77 million to $86 million, and Adjusted net income to be in the range of $45 million to $53 million for the year ending December 31, 2022.
Positive Outlook
- Revenues to be in the range of $300 million to $325 million
- Adjusted EBITDA to be in the range of $77 million to $86 million
- Adjusted net income to be in the range of $45 million to $53 million