Shoals Q2 Revenue Jumps 47% to $163M, Backlog Hits Record $801M
SHLS sits 99% above its 52-week low of $4.43.
Summary
Shoals delivered a strong Q2 with revenue up 47% year-over-year to $163.4 million, driven by demand and market share gains. Adjusted EBITDA rose to $31.6 million, and backlog plus awarded orders reached a record $801.4 million, up 19% from last year. Gross margin compressed to 30.3% from 37.2% due to inefficiencies tied to the new Tennessee mega-facility ramp and product quality rework costs, but the top-line growth and order book signal robust underlying demand. The company provided Q3 guidance of $150-$170 million in revenue and reaffirmed full-year 2026 targets of $600-$640 million in revenue and $130-$145 million in adjusted EBITDA. This follows the June 8-K disclosing a temporary $50 million revolver and tighter covenants, making the strong order book and reaffirmed outlook critical for liquidity confidence. The recent TerraFlow energy storage supply deal adds to the growth narrative.
At the time of this announcement, SHLS was trading at $8.80 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $1.6B. The 52-week trading range was $4.43 to $13.18. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.