| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 140.56 | 74.9% |
| Total Income | 140.56 | 74.9% |
| Expenditure | 132.84 | 74.7% |
| PBT | — | |
| Net Profit | -0.30 | 7.1% |
| OPM | 5.49% | 0.13pp |
| NPM | -0.21% | 0.14pp |
| EPS | 0.00 |
Shoals Reports Q1 2026 Revenue $140.6M, Up 74.9% YoY
05 May 2026 · 5 May, 4:52 pm
Summary
Shoals Technologies Group, Inc. announced its financial results for the first quarter ended March 31, 2026. Revenue increased by 74.9% to $140.6 million compared to the prior-year period. Income from operations was $7.7 million, up from $4.3 million in the prior year. The company's backlog and awarded orders reached a record $758.0 million. The company provided its second quarter outlook, expecting revenue between $150 million and $170 million, and raised its full-year outlook, projecting revenue between $600 million and $640 million.
Key Highlights
- 1
Shoals Technologies Group's revenue increased by 74.9% to $140.6 million in the first quarter of 2026, compared to $80.4 million in the prior-year period.
- 2
Income from operations was $7.7 million, compared to $4.3 million during the prior-year period.
- 3
The company reported a net loss of $0.3 million, consistent with the prior-year period.
- 4
Adjusted EBITDA was $21.1 million, compared to $13.5 million in the prior-year period.
- 5
Backlog and awarded orders reached a record $758.0 million, representing a 17.5% increase compared to the prior-year period.
- 6
The company expects revenue in the range of $150 million to $170 million for the second quarter of 2026.
- 7
Full year 2026 revenue is expected to be in the range of $600 million to $640 million.
Management Comments
Brandon Moss
“We began the year on very solid footing, with revenue above our expected range and growing at approximately 75% from the prior-year period. The underlying demand environment remains extremely strong as evidenced by our record backlog and awarded orders of $758 million. We are executing our strategic plan of accelerating growth within our core domestic utility scale solar market and expanding our offering into attractive high growth markets.” “The underlying strength of the markets in which we operate, combined with our leading competitive position, a broad and innovative product portfolio, and our new state of the art production facility, positions us exceptionally well to drive profitable growth in 2026 and beyond. We’re very excited about what we see ahead, and are pleased to increase both our revenue and adjusted EBITDA guidance for the current year,”
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