SHLS Stock - Shoals Technologies Group, Inc.
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $399.21M | $488.94M | $326.94M | $213.21M | $175.52M |
| Gross Profit | $142.02M | $168.30M | $131.31M | $82.64M | $66.55M |
| Gross Margin | 35.6% | 34.4% | 40.2% | 38.8% | 37.9% |
| Operating Income | $51.17M | $79.03M | $66.33M | $36.23M | $37.28M |
| Net Income | $24.13M | $39.97M | $127.61M | $2.35M | $33.77M |
| Net Margin | 6.0% | 8.2% | 39.0% | 1.1% | 19.2% |
| EPS | $0.14 | $0.24 | $1.11 | $0.02 | $0.21 |
Shoals Technologies Group, Inc. provides electrical balance of system (EBOS) solutions for solar energy projects in the United States. It produces EBOS components, including cable assemblies, inline fuses, combiners, disconnects, recombiners, wireless monitoring systems, junction boxes, transition enclosures, splice boxes, wire management solutions, and IV curve benchmarking devices. The company also sells EV Charging solutions for public and fleet electric vehicle charging stations; and EBOS systems. It sells its products principally to engineering, procurement, and construction firms that build solar energy projects and install electric vehicle charging stations. Shoals Technologies Group, Inc. was founded in 1996 and is headquartered in Portland, Tennessee.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| December 16th 2025 | Morgan Stanley | Downgrade | Equal Weight | $9.5 |
| October 22nd 2025 | Needham | Initiation | Buy | $12 |
| October 2nd 2025 | Barclays | Upgrade | Overweight | $10 |
| August 7th 2025 | Roth Capital | Upgrade | Buy | $10 |
| July 14th 2025 | Mizuho | Downgrade | Neutral | $7 |
| July 7th 2025 | Jefferies | Upgrade | Buy | $7.2 |
| May 15th 2025 | BNP Paribas Exane | Downgrade | Underperform | $4 |
| February 18th 2025 | Wolfe Research | Initiation | Peer Perform | - |
| December 17th 2024 | Morgan Stanley | Upgrade | Overweight | $7 |
| November 25th 2024 | BofA Securities | Initiation | Buy | $6 |
| November 13th 2024 | TD Cowen | Reiterated | Buy | $11← $9.5 |
| October 14th 2024 | Wells Fargo | Initiation | Equal Weight | $46 |
| October 3rd 2024 | Citigroup | Upgrade | Neutral | $5.5← $5 |
| September 4th 2024 | Jefferies | Initiation | Hold | $5 |
| August 7th 2024 | Exane BNP Paribas | Downgrade | Neutral | $7← $15 |
Earnings History & Surprises
SHLSEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | May 4, 2026 | — | — | — | — |
Q1 2026 | Feb 24, 2026 | $0.14 | — | — | — |
Q4 2025 | Nov 4, 2025 | $0.13 | $0.12 | -4.2% | ✗ MISS |
Q3 2025 | Aug 5, 2025 | $0.08 | $0.10 | +25.0% | ✓ BEAT |
Q2 2025 | May 6, 2025 | $0.04 | $0.03 | -25.0% | ✗ MISS |
Q1 2025 | Feb 25, 2025 | $0.09 | $0.08 | -11.1% | ✗ MISS |
Q4 2024 | Nov 12, 2024 | $0.10 | $0.08 | -20.0% | ✗ MISS |
Q3 2024 | Aug 6, 2024 | $0.09 | $0.10 | +11.1% | ✓ BEAT |
Q2 2024 | May 7, 2024 | $0.06 | $0.07 | +16.7% | ✓ BEAT |
Q1 2024 | Feb 28, 2024 | $0.17 | $0.12 | -29.4% | ✗ MISS |
Q4 2023 | Nov 7, 2023 | $0.16 | $0.20 | +25.0% | ✓ BEAT |
Q3 2023 | Aug 1, 2023 | $0.13 | $0.14 | +7.7% | ✓ BEAT |
Q2 2023 | May 8, 2023 | $0.10 | $0.14 | +40.0% | ✓ BEAT |
Q1 2023 | Feb 28, 2023 | $0.09 | $0.15 | +66.7% | ✓ BEAT |
Q4 2022 | Nov 14, 2022 | $0.08 | $0.10 | +25.0% | ✓ BEAT |
Q3 2022 | Aug 15, 2022 | $0.07 | $0.07 | 0.0% | = MET |
Q2 2022 | May 16, 2022 | $0.06 | $0.05 | -16.7% | ✗ MISS |
Q1 2022 | Mar 10, 2022 | $0.04 | $0.01 | -74.5% | ✗ MISS |
Q4 2021 | Nov 9, 2021 | $0.07 | $0.07 | 0.0% | = MET |
Q3 2021 | Aug 10, 2021 | $0.08 | $0.09 | +12.5% | ✓ BEAT |
Latest News
Morgan Stanley Downgrades Shoals Technologies Gr to Equal-Weight, Lowers Price Target to $9.5
📉 NegativeGuggenheim Maintains Buy on Shoals Technologies Gr, Raises Price Target to $12
📈 PositiveWells Fargo Maintains Equal-Weight on Shoals Technologies Gr, Raises Price Target to $10
➖ NeutralUBS Maintains Buy on Shoals Technologies Gr, Raises Price Target to $12
📈 PositiveRoth Capital Reiterates Buy on Shoals Technologies Gr, Raises Price Target to $15
📈 PositiveGoldman Sachs Maintains Buy on Shoals Technologies Gr, Raises Price Target to $11
📈 PositiveShoals Technologies Group shares are trading lower after the company reported mixed Q3 financial results.
📉 NegativeShoals Technologies Gr Sees Q4 Sales $140.000M-$150.000M vs $141.150M Est
➖ NeutralShoals Technologies Gr Raises FY2025 Sales Guidance from $450.000M-$470.000M to $467.000M-$477.000M vs $462.894M Est
📈 PositiveShoals Technologies Gr Q3 Adj. EPS $0.12 Misses $0.13 Estimate, Sales $135.804M Beat $130.881M Estimate
➖ NeutralNeedham Initiates Coverage On Shoals Technologies Gr with Buy Rating, Announces Price Target of $12
📈 PositiveMorgan Stanley Maintains Overweight on Shoals Technologies Gr, Raises Price Target to $11
📈 PositiveJP Morgan Maintains Overweight on Shoals Technologies Gr, Raises Price Target to $11
📈 PositiveShares of solar-related companies are trading higher. The sector has recently seen strength after China's Commerce Ministry announced that foreign suppliers must obtain approval to export certain products containing rare-earth materials, and the country will require licenses for the export of specific lithium batteries.
📈 PositiveShares of solar-related companies are trading higher amid overall market strength. The sector saw strength last Thursday after China's Commerce Ministry announced that foreign suppliers must obtain approval to export certain products containing rare-earth materials, and the country will require licenses for the export of specific lithium batteries.
📈 PositiveCORRECTION: The Sector Are Solar-Related Companies
➖ NeutralShares of solar-related stocks are trading higher after China's Commerce Ministry announced that foreign suppliers must obtain approval to export certain products containing rare-earth materials. Rare-earth minerals are necessary for solar panel systems and their broader technology.
📈 PositiveShoals Technologies Group shares are trading higher after Barclays upgraded the stock from Equal-Weight to Overweight and raised its price target from $7 to $10.
📈 PositiveBarclays Upgrades Shoals Technologies Gr to Overweight, Raises Price Target to $10
📈 PositiveUBS Maintains Buy on Shoals Technologies Gr, Raises Price Target to $9
📈 PositiveFrequently Asked Questions about SHLS
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