Shoals Q2 revenue up 38% to $59.7M, gross margin expands >500 bps; reaffirms FY outlook

Shoals Technologies Group, Inc.

2021-Q2 EPS reported -$0.01 revenue$105,326,000

Revenue $59.7M (+38% YoY); System Solutions revenue up 62% to $51.2M, representing 86% of total.
Gross profit margin 43.8% vs 38.8% YoY; net income $9.2M vs $5.2M; diluted EPS $0.05, adjusted EPS $0.09.
Adjusted EBITDA $20.6M (+34% YoY); backlog and awarded orders $200.5M, up 63% YoY.
Reaffirmed FY2021 guidance: revenue $230-240M, Adj EBITDA $75-80M, Adj net income $47-51M.

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