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Dec 31, 2024
Shoals Q4 2024 Earnings Report
Reported financial results for the fourth quarter of 2024, featuring quarterly revenue of $107.0 million and net income of $7.8 million.
Key Takeaways
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.
Revenue decreased by 18% to $107.0 million compared to the prior-year fourth quarter.
Net income was $7.8 million, compared to $16.6 million in the prior-year period.
Adjusted EBITDA decreased to $26.4 million compared to $39.1 million for the prior-year period.
Backlog and awarded orders were $634.7 million, approximately flat compared to the same time last year.
Shoals
Shoals
Forward Guidance
For the first quarter of 2025, the company expects revenue to be in the range of $70 million to $80 million and Adjusted EBITDA to be in the range of $10 million to $15 million. For the full year 2025, the company expects revenue to be in the range of $410 million to $450 million and Adjusted EBITDA to be in the range of $100 million to $115 million.