Shoals Technologies Reports Strong Third Quarter Results
News related to:Shoals Technologies Group, Inc · 1 min read
Shoals Technologies Group, Inc. reported strong financial results for its third quarter ended September 30, 2026. The company saw a 43.8% increase in revenue, reaching $195.3 million, compared to $135.8 million in the same period last year. This growth was driven by strong underlying demand for products, market share capture initiatives, and an increase in the volume of projects.
Income from operations stood at $29.0 million, up from $18.7 million in the previous year. Net income for the quarter was $17.9 million, a significant improvement from $11.9 million in the same period last year. Earnings per share were $0.11, compared to $0.07 in the prior year.
Adjusted EBITDA for the quarter was $39.8 million, a 22.1% increase from $32.2 million in the previous year. The company's backlog and awarded orders as of September 30, 2026, were $791.7 million, indicating a 9.8% increase compared to the prior-year period.
The company's backlog and awarded orders as of September 30, 2026, were $791.7 million, representing a 9.8% increase compared to the prior-year period. This growth reflects consistent demand for the company's innovative products, particularly in emerging battery energy storage markets.
For the fourth quarter ending December 31, 2026, Shoals Technologies Group expects revenue in the range of $165 million to $185 million, with Adjusted EBITDA in the range of $36 million to $40 million. For the full year 2026, the company now expects revenue in the range of $665 million to $685 million, Adjusted EBITDA in the range of $129 million to $133 million, and cash flow from operations in the range of $55 million to $65 million.
Shoals Technologies Group is a leading manufacturer of advanced electrical infrastructure solutions for mission-critical applications across utility-scale solar, battery storage, and data center power systems. Since its founding in 1996, the company has designed innovative technologies and systems solutions that allow its customers to substantially increase installation efficiency and safety while improving system performance and reliability at scale.