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Dec 31, 2022
Shoals Q4 2022 Earnings Report
Shoals reported strong Q4 2022 results with revenue nearly doubling year-over-year, driven by robust demand for system solutions and components.
Key Takeaways
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.
Revenue nearly doubled year-over-year to $94.7 million.
System Solutions revenue increased 150% year-over-year.
Gross margin expanded more than 950 bps year-over-year.
Backlog and awarded orders increased 43% year-over-year to $428.6 million.
Shoals
Shoals
Forward Guidance
For the full year 2023, the Company expects: Revenue to be in the range of $470 million to $510 million, Adjusted EBITDA to be in the range of $140 million to $155 million and Adjusted net income to be in the range of $87 million to $97 million.
Positive Outlook
- Revenue to be in the range of $470 million to $510 million
- Adjusted EBITDA to be in the range of $140 million to $155 million
- Adjusted net income to be in the range of $87 million to $97 million
- Interest expense to be in the range of $22 to $26 million
- Capital expenditures to be in the range of $8 to $12 million