Shoals Technologies Group Shares Surge 12% Despite Q1 Miss
Shoals Technologies Group, Inc. (NASDAQ:SHLS) shares were trading more than 12% higher in the afternoon despite the company’s reported Q1 earnings results, with EPS of $0.02 coming in worse than the consensus estimate of $0.07. Revenue was $68 million, compared to the consensus of $70.38 million.
Analysts at Oppenheimer said they are encouraged to see the company's new capacity coming online and new product development tracking as scheduled.
The analysts continue to expect the next 12 months to be crucial for the company in establishing its market position in the EU and Latin America, which could dictate its 3–5-year growth trajectory.
Given product is now certified, the analysts believe completing customer adoption will help signal growth in these geographies and understand the process is going well.
The company provided its Q2/22 outlook, expecting revenue in the range of $300-325 million, compared to the consensus estimate of $325.7 million.
| Symbol | Price | %chg |
|---|---|---|
| 322000.KS | 24250 | 0 |
| SWSOLAR.NS | 686.35 | 0 |
| SWSOLAR.BO | 686.25 | 0 |
| JSKY.JK | 52 | 0 |
Shoals Technologies Shares Soar 21% on Strong Q3 Results
Shoals Technologies Group, Inc. (NASDAQ:SHLS) shares surged more than 21% on Tuesday following the company’s reported Q3 results, with EPS of $0.10 coming in better than the Street estimate of $0.08. Revenue was $90.8 million, beating the Street estimate of $83.03 million.
With the company posting strong numbers across the board including award and bookings growth of $144 million in the quarter, analysts at Oppenheimer said they believe investors will be increasingly confident in the company's growth trajectory.
The analysts believe the value of shortened construction timelines and skilled labor savings are driving outsized growth, supplementing a strong demand environment of solar where higher electricity prices are outpacing costs from inflation and increased interest rates.
The company provided its fiscal 2022 outlook, expecting revenue in the range of $310-325 million, compared to the Street estimate of $313 million. Adjusted EBITDA guidance was raised to the range of $80-$86 million from $77-$86 million.
