Shoals Technologies reports Q2 adjusted EPS 10c, consensus 8c

Reports Q2 revenue $110.8M, consensus $104.71M. “The year is shaping up to be very strong. We delivered revenue above the high end of our guided range, and ended the period with record backlog and awarded orders of $671.3 million. Our strategy of accelerating growth within our core domestic utility scale markets is yielding results. We continue to be very encouraged by the traction we are seeing within our four growth initiatives, which are providing exposure to new markets, customers, and applications for Shoals,” said Brandon Moss, CEO of Shoals. “The underlying fundamentals of our markets have steadily improved this year. While a rapidly shifting regulatory environment has been distracting for many watching our sector, EPCs, developers, partners and peers are all working hard to keep pace with demand. The underlying fundamentals of the energy transition markets remain very healthy and the power is in high demand. Our experienced and sophisticated customers are capable of navigating the uncertainty, and remain committed to their project timelines for the coming years. For this reason, we are incrementally more constructive on the demand environment. As such, I’m pleased to increase our revenue guidance for the full year 2025,” added Mr. Moss.