Shoals Technologies Group reported second-quarter 2026 results with revenue of $163.4 million and net income of $12.1 million. Adjusted EBITDA for the quarter was $31.6 million and adjusted diluted EPS was $0.12. The company reported a record backlog and awarded orders of $801.4 million and provided a Q3 and reaffirmed full-year 2026 outlook.
Financial Highlights
- Revenue: $163.4 million for the three months ended June 30, 2026 (up 47.4% year-over-year).
- Gross profit: $49.5 million; gross margin 30.3% for the quarter.
- Income from operations: $18.7 million for the quarter.
- Net income: $12.1 million; basic and diluted EPS $0.07 for the quarter.
- Adjusted EBITDA: $31.6 million for the quarter; Adjusted Diluted EPS: $0.12.
Business Highlights
- Backlog and awarded orders: $801.4 million as of June 30, 2026, a 19.4% increase year-over-year and a 5.7% sequential increase from March 31, 2026.
- Revenue growth driven by strong product demand, market share capture initiatives, and increased project volume, with noted growth in emerging battery energy storage markets.
- Completed move into a new manufacturing facility and is working on productivity improvements; quarter included operational inefficiencies related to ramp-up and transition to the new facility.
- Reported costs during the period related to addressing product quality matters (including rework and corrective actions) and material-related inefficiencies tied to the facility transition.
- Provided outlook: Q3 2026 revenue expected $150M–$170M and Adjusted EBITDA $32M–$37M; reaffirmed full-year 2026 revenue $600M–$640M and Adjusted EBITDA $118M–$132M.
Original SEC Filing:
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