Shoals Q1 revenue $105M (+55% YoY); raises FY2023 guidance on record backlog

Shoals Technologies Group, Inc.

2023-Q1 EPS reported $0.10 revenue$105,086,000

Revenue $105.1M (+55% YoY); System Solutions revenue $91.3M (+95% YoY) with gross margin 45.9% (+720bps).
Backlog of $527.5M, up 75% YoY, reflecting strong demand for combine-as-you-go solutions.
Net income $17.0M, diluted EPS $0.10; adjusted EPS $0.14 vs $0.05 prior year.
Raising FY2023 outlook: revenue $480M-$510M; Adjusted EBITDA $145M-$160M; Adj. net income $92M-$102M.
Six new BLA customers signed in Q1, bringing total to 42.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Shoals Technologies Group, Inc. reported the three months ended March 31, 2023 results: revenue $105.1 million, net income $17.0 million, EPS $0.10. Guidance raised.

Period: the three months ended March 31, 2023
Revenue: $105.1 million
Net income: $17.0 million
EPS: $0.10
Guidance: raised
Result: reported results

Exact text from the filing

Shoals Technologies Group, Inc. Reports Financial Results for First Quarter 2023 – Revenue of $105.1 million, up 55% Compared to the Prior Year Period and a Quarterly Record

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Shoals Technologies Group, Inc. filing history →

Source: SEC EDGAR

accession 0001831651-23-000045

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