Shoals Technologies' Q3 revenue beats estimates

Shoals Technologies

04/11/2025 12:22

Overview

Shoals Q3 revenue grows 32.9% yr/yr, beating analyst expectations

Adjusted EPS for Q3 misses analyst estimates

Company reports record backlog and awarded orders of $720.9 mln

Outlook

Shoals expects Q4 revenue between $140.0 mln and $150.0 mln

Company forecasts full-year revenue of $467.0 mln to $477.0 mln

Shoals anticipates full-year adjusted EBITDA of $105.0 mln to $110.0 mln

Result Drivers

STRONG DEMAND - Revenue growth driven by strong demand for products and market share capture initiatives

BACKLOG GROWTH - Record backlog and awarded orders indicate strong future demand

GROSS MARGIN IMPROVEMENT - Increase in gross margin partly due to absence of prior-year warranty expenses

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$135.80 mln
$131.40 mln (15 Analysts)
Q3 Adjusted EPS
Miss
$0.12
$0.13 (14 Analysts)
Q3 EPS
$0.07
Q3 Adjusted Net Income
$21 mln
Q3 Adjusted EBITDA
$32 mln
Q3 Gross Margin
37%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the electrical components & equipment peer group is "buy"

Wall Street's median 12-month price target for Shoals Technologies Group Inc is $9.00, about 14.9% below its November 3 closing price of $10.34

The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 13 three months ago

Press Release: ID:nGNX8tbTy9

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)