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Shoals Technology Group, Inc. Hosted Inaugural Investor Day
Introduced Long-Term Financial Targets PORTLAND, Tenn., Sept. 05, 2024 (GLOBE NEWSWIRE) -- Shoals Technologies Group, Inc. (“the Company”) (Nasdaq: SHLS), a
About this update from Shoals Technologies Group, Inc.
[{"type":"text","content":"Introduced Long-Term Financial Targets\nPORTLAND, Tenn., Sept. 05, 2024 (GLOBE NEWSWIRE) -- Shoals Technologies Group, Inc. (“the Company”) (Nasdaq: SHLS), a global leader in electrical balance of system (EBOS) solutions for the energy transition market, announces financial highlights of its investor day, which was held today in Nashville, TN. Shoals’ executive leadership team highlighted a proven track record of financial results, significant cash flow generation, a strong balance sheet and its strong position to achieve long-term (2027) financial targets, including: Revenue growth of 12 to 18% CAGRGross Margin of approximately 42%Adj. EBITDA Margin* of approximately 30%Annual CAPEX of approximately $20M *A reconciliation of Adjusted EBITDA Margin guidance, which is a forward-looking measure that is a non-GAAP measures, to the most closely comparable GAAP measures is not provided because we are unable to provide such reconciliation without unreasonable effort. The inability to provide a quantitative reconciliation is due to the uncertainty and inherent difficulty in predicting the occurrence, the financial impact and the periods in which the components of the applicable GAAP measure and non-GAAP adjustments may be recognized. The GAAP measure may include the impact of such items as non-cash share-based compensation, amortization of intangible assets and the tax effect of such items, in addition to other items we have historically excluded from Adjusted EBITDA margin. We expect to continue to exclude these items in future disclosures of these non-GAAP measures and may also exclude other similar items that may arise in the future. “We have made significant financial progress since our IPO, and we expect to continue to execute against our strategy to achieve our long-term financial targets and create value for our shareholders,” said Dominic Bardos, CFO. “We have the right team in place and we continue to see opportunities for growth across our business.” The investor day presentation and related materials are available on the Shoals Technologies Investor Relations website at investors.shoals.com. About Shoals Technologies Group, Inc. Shoals Technologies Group is a leading provider of electrical balance of systems (“EBOS”) solutions for the energy transition market. Since its founding in 1996, the Company has introduced innovative...