Shoals Technologies Group Inc

Latest Results (13.10.2025):

Shoals Technologies Group Inc. announced its financial results for the fourth quarter of 2024, reporting a decline in revenue and net income compared to the same period last year. Despite these challenges, the company maintains a robust backlog of orders and has provided optimistic forecasts for 2025, highlighting ongoing demand and strategic growth initiatives.

Revenue Decline

In the fourth quarter of 2024, Shoals Technologies Group Inc. reported a revenue of $107.0 million, representing an 18% decrease compared to $130.4 million in the fourth quarter of 2023. The decline was primarily driven by lower sales volumes due to delays in solar projects.

Net Income Reduction

The company's quarterly net income fell to $7.8 million from $16.6 million in the prior-year quarter. Basic and diluted net income per share also decreased to $0.05 from $0.10.

Adjusted EBITDA Drop

Adjusted EBITDA for the fourth quarter of 2024 was $26.4 million, down from $39.1 million in the fourth quarter of 2023. This decrease reflects the overall reduction in revenue and operational challenges.

Strong Backlog and Orders

Shoals Technologies concluded the quarter with a backlog and awarded orders totaling $634.7 million, showing a slight increase from the previous period. This robust order book includes $440 million scheduled for delivery in 2025, indicating sustained demand.

Outlook for 2025

The company provided its first quarter and full year 2025 outlook, expecting revenue between $410 million and $450 million and adjusted EBITDA ranging from $100 million to $115 million. Shoals Technologies remains cautious but optimistic about driving value for customers and shareholders amid ongoing market uncertainties.