Shoals Q3 revenue up 14% to $59.8M, net income down to $5.3M; backlog record $270.7M

Shoals Technologies Group, Inc.

2021-Q3 EPS reported $0.02 revenue$165,166,000

Revenue $59.8M (+14% YoY); System Solutions revenue $38.6M (+5% YoY); gross margin 36.4% vs 39.3%.
Net income $5.3M ($0.02 EPS) vs $15.0M prior year; adjusted net income $11.6M ($0.07 adjusted EPS).
Backlog and awarded orders $270.7M, up 101% YoY, a record; acquired ConnectPV for cash+stock, accretive to 2022 EPS.
Guides Q4 2021 revenue $40-50M, adj EBITDA $11-15M; Q1 2022 revenue $71-76M (adj EBITDA $22-24M).
Supply chain delays shifting Q4 revenue to Q1; no order cancellations.

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