Shoals Technologies Group (NASDAQ:SHLS) Issues Earnings Results

Posted by Brenda Bartman on Aug 4th, 2026

Shoals Technologies Group (NASDAQ:SHLS – Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02, FiscalAI reports. The business had revenue of $163.37 million for the quarter, compared to the consensus estimate of $160.03 million. Shoals Technologies Group had a net margin of 6.27% and a return on equity of 10.03%. The company’s quarterly revenue was up 47.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.10 earnings per share.

Here are the key takeaways from Shoals Technologies Group’s conference call:

Second-quarter revenue rose 47% year over year to $163.4 million, while adjusted EBITDA increased 28% to $31.6 million. New orders of approximately $207 million produced a 1.3 book-to-bill ratio and record backlog of $801.4 million.
Management reaffirmed full-year 2026 guidance for revenue of $600–$640 million and adjusted EBITDA of $118–$132 million, with third-quarter revenue expected to reach $150–$170 million. The company expects stronger cash generation in the second half as inventory investments unwind.
Shoals expects gross margins to improve through the remainder of the year, supported by favorable product mix, productivity gains, and greater fixed-cost leverage at its consolidated facility. Management is targeting gross margins in the low-to-mid 30% range over time.
BESS revenue reached approximately $20 million in the quarter, with BESS backlog growing to $65 million, and the TerraFlow partnership could support future deployments of up to 5 gigawatts annually. However, management does not expect meaningful TerraFlow revenue until 2027.
Net debt increased to $181.1 million, or 1.6 times adjusted EBITDA, although the company expanded its revolving facility by $50 million and expects leverage to improve with second-half cash flow. The district court case determining damages in the Voltage litigation is expected to conclude in the third quarter and may weigh on third-quarter EBITDA through legal costs.

Shoals Technologies Group Stock Performance

SHLS stock traded down $0.02 during trading on Tuesday, hitting $9.35. 6,645,000 shares of the company’s stock traded hands, compared to its average volume of 5,369,415. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 48.17, a price-to-earnings-growth ratio of 1.06 and a beta of 1.93. Shoals Technologies Group has a 52 week low of $4.43 and a 52 week high of $13.18. The stock has a fifty day moving average price of $10.28 and a two-hundred day moving average price of $8.85. The company has a quick ratio of 1.07, a current ratio of 1.84 and a debt-to-equity ratio of 0.30.

Analysts Set New Price Targets

SHLS has been the subject of several research reports. Needham & Company LLC reiterated a “buy” rating and set a $12.00 price objective on shares of Shoals Technologies Group in a research note on Wednesday, May 6th. Roth Capital reaffirmed a “buy” rating on shares of Shoals Technologies Group in a research report on Thursday, July 2nd. Citigroup reissued a “neutral” rating on shares of Shoals Technologies Group in a research report on Wednesday, July 22nd. Wells Fargo & Company increased their target price on Shoals Technologies Group from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Thursday, June 11th. Finally, JPMorgan Chase & Co. boosted their price target on Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Shoals Technologies Group presently has an average rating of “Moderate Buy” and a consensus target price of $10.46.

Check Out Our Latest Stock Analysis on Shoals Technologies Group

Insider Activity

In other Shoals Technologies Group news, CFO Dominic Bardos sold 54,449 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $8.48, for a total transaction of $461,727.52. Following the sale, the chief financial officer directly owned 394,979 shares in the company, valued at approximately $3,349,421.92. The trade was a 12.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bobbie Lee King, Jr. sold 10,000 shares of Shoals Technologies Group stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $10.41, for a total value of $104,100.00. Following the transaction, the insider owned 98,918 shares in the company, valued at approximately $1,029,736.38. This trade represents a 9.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. nVerses Capital LLC bought a new stake in shares of Shoals Technologies Group in the 4th quarter valued at approximately $127,000. Banco Bilbao Vizcaya Argentaria S.A. bought a new stake in Shoals Technologies Group in the fourth quarter valued at $124,000. Boothbay Fund Management LLC bought a new stake in Shoals Technologies Group in the fourth quarter valued at $105,000. HighTower Advisors LLC acquired a new position in Shoals Technologies Group during the fourth quarter worth $120,000. Finally, Raymond James Financial Inc. acquired a new position in Shoals Technologies Group during the second quarter worth $123,000.

More Shoals Technologies Group News

Here are the key news stories impacting Shoals Technologies Group this week:

Positive Sentiment: Second-quarter adjusted EPS was $0.12, exceeding the $0.10 consensus estimate, while revenue reached $163.4 million, above expectations of $160.0 million and up 47.4% year over year. Shoals Technologies Group Q2 Earnings and Revenues Surpass Estimates
Positive Sentiment: Adjusted EBITDA increased to $31.6 million from $24.7 million, and backlog plus awarded orders rose 19.4% year over year to a record $801.4 million. Growth in battery energy storage demand supports the company’s future revenue visibility. Shoals Technologies Group Reports Second-Quarter Financial Results
Positive Sentiment: Shoals reaffirmed full-year 2026 revenue guidance of $600 million to $640 million and issued third-quarter revenue guidance of $150 million to $170 million, with adjusted EBITDA guidance of $32 million to $37 million. The company also announced a multi-gigawatt energy-storage partnership with TerraFlow Energy. Shoals and TerraFlow Energy Energy-Storage Partnership
Neutral Sentiment: The guidance midpoint is broadly consistent with analyst expectations: third-quarter revenue midpoint is $160 million versus a $159.1 million consensus, while the full-year midpoint is $620 million versus $622.7 million expected. No EPS guidance was provided in the update.
Negative Sentiment: Gross margin fell to 30.3% from 37.2% a year earlier, reflecting inefficiencies from the new facility transition, product-quality rework, material issues and unfavorable product mix. General and administrative expenses also increased to $28.5 million from $23.1 million.
Negative Sentiment: GAAP net income declined to $12.1 million from $13.9 million, and GAAP EPS fell to $0.07 from $0.08, despite strong revenue growth. Operating cash flow was negative $34.6 million in the first half, while borrowings under the revolving credit facility increased to $196.8 million at quarter-end.

Shoals Technologies Group Company Profile

(Get Free Report)

Shoals Technologies Group, Inc is a leading provider of electrical balance-of-system (BOS) solutions for the solar energy industry. The company designs, engineers and manufactures a comprehensive portfolio of products, including junction boxes, combiner boxes, cable assemblies, power distribution units and monitoring systems. These components are critical to interconnecting photovoltaic modules, optimizing energy output and ensuring safe, reliable performance across solar installations.

Founded in 1996 and headquartered in Portland, Tennessee, Shoals has grown its manufacturing and operations footprint to serve customers around the globe.