Shoals Technologies Group demonstrated strong revenue growth and record backlog, emphasizing successful strategic initiatives and market demand. However, profitability was impacted by legal expenses, warranty remediation, and reduced gross margins. Despite these challenges, the overall outlook remains positive, with significant growth expected in 2025 and beyond.

Company Guidance

During the Shoals Technologies Group Second Quarter 2025 Earnings Conference Call, the company reported a revenue of $110.8 million, marking an 11.7% increase year-over-year and a 37.9% sequential increase. The company also highlighted strong bookings, with approximately $137.1 million in new orders, culminating in a record backlog and awarded orders (BLAO) of $671.3 million and a book-to-bill ratio of 1.2. Of this, $540.3 million is scheduled for shipment within the next four quarters. The company adjusted its full-year 2025 revenue guidance upwards, anticipating a 13% to 18% year-over-year growth. Adjusted gross profit percentage for the quarter was at 37.2%, with gross profit dollars reaching $41.2 million. Shoals also reported an adjusted EBITDA of $24.5 million, representing 22.1% of revenue. Looking forward, the company provided guidance for the third quarter with expected revenue between $125 million and $135 million, and adjusted EBITDA between $30 million and $35 million. For the full year 2025, Shoals expects revenue between $450 million and $470 million and adjusted EBITDA between $100 million and $115 million.

Revenue Exceeds Expectations

Shoals Technologies Group reported a revenue of $110.8 million for the second quarter, exceeding the high end of their expected range and marking an 11.7% year-over-year increase and a 37.9% sequential increase.

Record Backlog and Orders

The company achieved a record backlog and awarded orders (BLAO) of $671.3 million, with a book-to-bill ratio of 1.2, supporting growth into 2026.

Positive Adjusted EBITDA

Shoals reported an adjusted EBITDA of $24.5 million, which was at the high end of their expected range, representing 22.1% of revenue.

Expansion in Strategic Growth Initiatives

Strategic growth channels such as CC&I and OEM contributed to year-over-year revenue growth. The company's international and battery energy storage solutions (BESS) markets are also expanding.

Strong Demand and Market Position

The company is experiencing strong demand in the U.S. utility-scale solar market and has increased its anticipated revenue growth for the full year 2025 to between 13% and 18% year-over-year.

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

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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.