Shoals Technologies Group Inc reports results for the quarter ended in June - Earnings Summary

Shoals Technologies

07/08/2024 05:11

* Shoals Technologies Group Inc  SHLS.OQ  reported quarterly
adjusted earnings of 10 cents​​ per share for the quarter ended
in June, lower than the same quarter last year, when the company
reported EPS of 14 cents.  The mean expectation of
eighteen analysts for the quarter was for earnings of 8 cents
per share. Wall Street expected results to range from 4 cents
to 10 cents per share.
    * Revenue fell 16.7% to $99.25 million from a year ago;
analysts
expected $90.46 million. 
    * Shoals Technologies Group Inc's reported EPS for the
quarter was
7 cents​.
    * The company reported quarterly net income of $11.8
million.
    * Shoals Technologies Group Inc shares had fallen by 12.5%
this
quarter and lost 64.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 9% in
the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 14 "strong buy" or "buy," 3
"hold" and 2 "sell" or "strong sell." 
    * The average consensus recommendation for the electrical
components & equipment peer group is also "buy"

Wall Street's median 12-month price target for Shoals
Technologies Group Inc is $12.00 
This summary was machine generated from LSEG data August 7 at
04:11 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.08           0.10           Beat
 Mar. 31 2024      0.06           0.07           Beat
 Dec. 31 2023      0.17           0.12           Missed
 Sep. 30 2023      0.15           0.20           Beat