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Shoals Technologies Group, Inc. Reports Financial Results for Second Quarter 2026
– Quarterly Revenue of $163.4 million – – Income from Operations of $18.7 million – – Net Income of $12.1 million – – Adjusted EBITDA1 of $31.6 million – – Backlog and Awarded Orders of $801.4 million – – Provides Third Quarter and Reaffirms Full-year Outlook – PORTLAND, Tenn., Aug. 04, 2026 (GLOBE NEWSWIRE) -- Shoals Technologies Group, Inc. (“Shoals” or the “Company”) (Nasdaq: SHLS), a global leader in electrical infrastructure solutions for the energy transition market, today announced result
About this update from Shoals Technologies Group, Inc.
– Quarterly Revenue of $163.4 million – – Income from Operations of $18.7 million – – Net Income of $12.1 million – – Adjusted EBITDA1 of $31.6 million – – Backlog and Awarded Orders of $801.4 million – – Provides Third Quarter and Reaffirms Full-year Outlook – PORTLAND, Tenn., Aug. 04, 2026 (GLOBE NEWSWIRE) -- Shoals Technologies Group, Inc. ("Shoals" or the "Company") (Nasdaq: SHLS), a global leader in electrical infrastructure solutions for the energy transition market, today announced results for its second quarter ended June 30, 2026. "The year is progressing well, with second quarter revenue and Adjusted EBITDA within our expected range. The market remains resilient as evidenced by our record backlog and awarded orders of $801.4 million. We have completed the move into our new facility and are steadily making progress towards improving productivity," said Brandon Moss, CEO of Shoals. "At Shoals, we've stayed focused on strengthening our core business while strategically expanding into high-growth markets that are shaping the future of energy, and that strategy is yielding results. With our market position, manufacturing footprint, and innovation pipeline, we believe we're exceptionally well positioned for what lies ahead and we're excited by the opportunities in front of us," said Mr. Moss. ________________________ 1Non-GAAP financial measures referenced in this release are used by management to assist investors and analysts in comparing our performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. Reconciliations of non-GAAP operating measures to the most directly comparable GAAP financial measures are included in the non-GAAP reconciliation in this release. Non-GAAP measures should not be used as a substitute for the closest comparable GAAP measures. Second Quarter 2026 Financial ResultsRevenue increased 47.4%, to $163.4 million, compared to $110.8 million for the prior-year period, driven by strong underlying demand of products, the impact of market share capture initiatives, and an increase in volume of projects in the current year. Gross profit was $49.5 million, compared to $41.2 million in the prior-year period. Gross profit as a percentage of revenue was 30.3% compared to 37.2% in the prior-year period. Gross profit as a percentage of revenue de...
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