Shoals Q2 revenue $73.5M (+23%); net income $7.3M; backlog up 63% to $327.2M; reaffirms FY22 outlook

Shoals Technologies Group, Inc.

2022-Q2 EPS reported $0.06 revenue$141,466,000

Revenue $73.5M, up 23% YoY; gross profit $28.6M; gross margin 38.9% vs 43.8% due to mix and higher costs.
Net income $7.3M ($0.04 diluted EPS) vs $9.2M ($0.05) a year ago; adjusted EPS $0.07 vs $0.09.
Backlog and awarded orders record $327.2M, up 63% YoY and 8% sequentially.
Full-year 2022 guidance reaffirmed: revenue $300M-$325M, adjusted EBITDA $77M-$86M.
Components revenue surged 97% YoY, driven by battery storage and new solar customers.

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