The earnings call highlighted strong revenue growth, increased guidance, and positive developments in international markets. However, the company faces challenges with elevated legal expenses, negative free cash flow, and declining gross margins. The sentiment is mixed with significant achievements but also notable challenges.

Company Guidance -

Q3 2025

During the Shoals Technologies Group Second Quarter 2025 Earnings Conference Call, the company reported several key metrics reflecting strong performance and growth. Revenue for the quarter was $110.8 million, marking an 11.7% increase over the prior year and a 37.9% sequential increase. Shoals achieved record bookings of $137.1 million, resulting in a backlog and awarded orders (BLAO) of $671.3 million, with a book-to-bill ratio of 1.2. Adjusted gross profit percentage was 37.2%, with gross profit dollars reaching $41.2 million. Adjusted EBITDA came in at $24.5 million, representing 22.1% of revenue. The company raised its full-year 2025 revenue guidance to between $450 million and $470 million, anticipating year-over-year growth of 13% to 18%. For the third quarter, Shoals expects revenue to range between $125 million to $135 million, with adjusted EBITDA between $30 million and $35 million. Despite challenges, including ongoing warranty remediation and elevated legal expenses, Shoals remains optimistic about its strategic growth initiatives and market opportunities, including international expansion and battery energy storage solutions (BESS).

Record Revenue and Strong Bookings

Shoals Technologies Group delivered revenue of $110.8 million for Q2 2025, which was above the high end of their expected range and represents an 11.7% increase year-over-year and a 37.9% sequential increase. Bookings were strong, driving approximately $137.1 million in new orders, resulting in a company record backlog and awarded orders (BLAO) of $671.3 million.

Increased Revenue Guidance

For the full year 2025, the company increased its revenue guidance to be in the range of $450 million to $470 million, representing between 13% and 18% growth year-over-year.

Completion of Remediation Work

The remediation work to replace defective Prysmian wire on known customer sites is nearing completion, with positive feedback from customers, reinforcing Shoals' reputation for quality and service.

Expansion in International Markets

Shoals' international pipeline exceeds 20 gigawatts and includes projects in Latin America, EMEA, and Asia-Pacific. The company expects to deliver on multiple international projects this year with an acceleration in 2026.

Shoals Technologies Group (SHLS) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

SHLS Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 11, 2025	2025 (Q3)	0.13 / -	0.08	―	―	―
Aug 05, 2025	2025 (Q2)	0.08 / 0.10	0.1	0.00% (0.00)
May 06, 2025	2025 (Q1)	0.04 / 0.03	0.07	-57.14% (-0.04)
Feb 25, 2025	2024 (Q4)	0.09 / 0.08	0.12	-33.33% (-0.04)
Nov 12, 2024	2024 (Q3)	0.10 / 0.08	0.2	-60.00% (-0.12)
Aug 06, 2024	2024 (Q2)	0.08 / 0.10	0.14	-28.57% (-0.04)
May 07, 2024	2024 (Q1)	0.06 / 0.07	0.14	-50.00% (-0.07)
Feb 28, 2024	2023 (Q4)	0.17 / 0.12	0.15	-20.00% (-0.03)
Nov 07, 2023	2023 (Q3)	0.16 / 0.20	0.1	100.00% (+0.10)
Aug 01, 2023	2023 (Q2)	0.13 / 0.14	0.07	100.00% (+0.07)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

SHLS Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 05, 2025	$5.38	$4.67	-13.20%
May 06, 2025	$3.76	$4.41	+17.29%
Feb 25, 2025	$4.48	$4.26	-4.91%
Nov 12, 2024	$5.77	$4.85	-15.94%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.