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Dec 31, 2020
Shoals Q4 2020 Earnings Report
Reported record revenue and earnings with gross margin expansion and backlog increase.
Key Takeaways
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%.
Revenues were $38.8 million, compared to $37.9 million for the prior-year period.
Gross profit increased 19.0% to $14.8 million, compared to $12.5 million in the prior year period.
Gross margin increased more than 530 bps to 38.3% from 32.9% in the prior year.
Backlog and awarded orders at December 31, 2020 were $157 million, an increase of 46% year-over-year.
Forward Guidance
For the full year 2021, the Company expects revenues to be in the range of $230 million to $240 million and Adjusted EBITDA to be in the range of $75 million to $80 million.
Positive Outlook
- Revenues to be in the range of $230 million to $240 million, up 31.0% to 36.7% year-over-year
- Adjusted EBITDA to be in the range of $75 million to $80 million
- Adjusted net income to be in the range of $47 to $51 million
- Converting more customers to our BLA solution
- Broadening our product offering into complementary categories of EBOS
Challenges Ahead
- Expectations do not consider, or give effect for, material acquisitions that may be completed by the Company during 2021
- Expectations do not consider, or give effect for, other unforeseen events, including changes in global economic conditions
- Non-cash share-based compensation
Historical Earnings Impact
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Avg. Return Before/After Earnings
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