AI-powered contentSome parts of this article are powered by AI.
Share this article
Gotrade News - Shoals Technologies Group (SHLS) reported third-quarter 2026 revenue of $195.3 million, up 43.8% from $135.8 million a year earlier, and net income of $17.9 million, according to the company's official release on Wednesday, November 4, 2026. The company also raised its full-year 2026 outlook.
Regular-session close on November 4, 2026, New York time. Prices and changes: Yahoo Finance, cross-checked against the closing price on Nasdaq.com.
Shoals Technologies Earnings Details
For the quarter ended September 30, 2026, Shoals reported earnings per share of $0.11, compared with $0.07 in the prior-year period. Income from operations was $29.0 million, compared with $18.7 million, and net income was $17.9 million, compared with $11.9 million. On an adjusted basis, the company reported Adjusted EBITDA of $39.8 million against $32.2 million and Adjusted Diluted Earnings Per Share of $0.14 against $0.13.
Gross profit was $62.4 million, compared with $50.3 million a year earlier, while gross profit as a percentage of revenue was 31.9% against 37.0%. The company attributed that decline primarily to operational inefficiencies from the ramp-up and transition into its new manufacturing facility, product mix, costs to address product quality matters and incremental lease accounting amortization.
For the fourth quarter ending December 31, 2026, Shoals said it expects revenue in the range of $165 million to $185 million and Adjusted EBITDA of $36 million to $40 million. For the full year 2026, the company now expects revenue of $665 million to $685 million and Adjusted EBITDA of $129 million to $133 million.
Why It Matters for SHLS
The company said revenue growth was driven by underlying demand for its products, market share capture initiatives and an increase in the volume of projects. CEO Brandon Moss said in the release that "productivity improvements drove both quarterly revenue and Adjusted EBITDA above our expected range." Backlog and awarded orders stood at $791.7 million as of September 30, 2026, a 9.8% increase from the prior-year period and a 1.2% sequential decrease from June 30, 2026. The company said the year-over-year increase reflects consistent demand for its products, with growth in emerging battery energy storage markets.
The results came alongside a separate announcement that Shoals has entered into an Agreement and Plan of Merger and Reorganization with ARRAY Technologies, Inc. In light of that announcement, the company said its previously scheduled third-quarter earnings call would instead be conducted as a joint analyst call with ARRAY on Wednesday, November 4, 2026, at 8:00 a.m. ET.
This article is for education and information only and is not investment advice. Investment decisions are yours to make after your own research.
This article was written with the help of AI and checked by the Gotrade team before publishing.
Gotrade is the trading name of Gotrade Securities Inc., which is registered with and supervised by the Labuan Financial Services Authority (LFSA). This content is for educational purposes only and does not constitute financial advice. Always do your own research (DYOR) before investing.
M. Alfathan Rahman is a content writer with over 3 years of experience developing digital content strategies across various industries, including fintech. He has experience producing content for tax-related websites and financial education platforms. His focus areas include data research, and crafting financial articles that are informative, accurate, and accessible to investors of all experience levels.
