Shoals Technologies Group, Inc. - SHLS STOCK NEWS

Shoals Technologies Group reported Q4 2024 financial results. Revenue was $107.0 million, down 18% from the prior year's $130.4 million. The adjusted gross profit percentage decreased to 37.6% from 42.5%, and net income fell to $7.8 million from $16.6 million. Adjusted EBITDA decreased to $26.4 million from $39.1 million. The company ended the quarter with a backlog and awarded orders of $634.7 million.

For the full year 2024, revenue decreased 18% to $399.2 million. Gross profit was $142.0 million, down from $168.3 million, and net income was $24.1 million, down from $42.7 million. Adjusted EBITDA was $99.1 million, compared to $173.4 million in the prior year. The backlog and awarded orders were flat year-over-year but up 6.5% from Q3 2024.

The company provided a cautious 2025 outlook due to market uncertainties. For Q1 2025, revenue is expected between $70 million and $80 million, and adjusted EBITDA between $10 million and $15 million. For the full year 2025, revenue is projected between $410 million and $450 million, with adjusted EBITDA between $100 million and $115 million, and cash flow from operations between $30 million and $45 million.

Shoals Technologies Group (SHLS) has filed a Petition for Review and Notice of Appeal to the United States Court of Appeals for the Federal Circuit, challenging the International Trade Commission's (ITC) recent decision to reverse a prior ruling regarding Voltage's LYNX trunk bus products infringing Shoals' '153 Patent.

The appeal requests a 'de novo' review of the ITC's interpretation, which could result in either finding infringement or remanding the case to apply the Administrative Law Judge's original interpretation. Additionally, the ITC has instituted a new investigation into Voltage's alleged infringement of Shoals' newly issued '375 and '376 patents, which protect improved trunk bus lead assembly designs for solar energy projects.

Shoals Technologies Group (Nasdaq: SHLS) has announced it will release its fourth quarter and full year 2024 financial results before market open on Tuesday, February 25, 2025. The company will host a conference call at 8:00 a.m. Eastern Time on the same day to discuss the results. Investors can access a live webcast of the call through the Investor Relations section of Shoals' website, with an archived replay available after the event.

Shoals Technologies Group (SHLS) has filed a new patent infringement complaint with the U.S. International Trade Commission (ITC) against Voltage, and a related foreign entity. The complaint involves two new patents ('375 and '376) covering Shoals' Big Lead Assembly (BLA) solutions for solar panel arrays.

This follows a previous '153 Patent infringement complaint filed in 2023. The new patents are designed to protect against alternative designs that Voltage may create to bypass the original '153 Patent. The complaint aims to prevent illegal importation of trunk bus lead assembly that infringes on Shoals' intellectual property.

Shoals expects a final determination on the pending '153 Patent infringement complaint from the ITC on January 15th, following a positive initial determination by the Commission.

Shoals Technologies Group (SHLS) reported Q3 2024 financial results with revenue of $102.2 million, down 24% year-over-year. The company posted a net loss of $0.3 million and Adjusted EBITDA of $24.5 million. Despite project delays affecting revenue, quoting volume increased nearly 50% from the prior year. The company's backlog and awarded orders stood at $596.6 million, with international markets comprising over 13%. Shoals raised its full-year 2024 revenue outlook to $390-400 million, with expected Adjusted EBITDA of $96-101 million.

Shoals Technologies Group, a leader in electrical balance of system (EBOS) solutions, has announced its participation in multiple upcoming investor events from November 2024 through January 2025. The schedule includes virtual fireside chats with Jefferies (Nov 14) and Truist Securities (Nov 22), followed by in-person conferences with UBS (Dec 3), Morgan Stanley (Dec 5), Bank of America (Dec 6), Mizuho (Dec 10), and Goldman Sachs (Jan 7, 2025). Senior management, including CEO Brandon Moss, CFO Dominic Bardos, and VP of IR Matt Tractenberg, will participate in various formats including fireside chats, panels, and investor meetings.

Shoals Technologies Group, Inc. (Nasdaq: SHLS) has announced the date for its third quarter 2024 earnings release. The company will disclose its financial results before market open on Tuesday, November 12, 2024. Following the release, Shoals will host a conference call at 8:00 a.m. Eastern Time on the same day.

Investors and other interested parties can access a live webcast of the conference call through the Investor Relations section of the company's website at https://investors.shoals.com. For those unable to attend the live event, an archived replay of the webcast will be made available shortly after the call concludes.

Shoals Technologies Group, a global leader in electrical balance of system (EBOS) solutions for the energy transition market, has announced two key appointments to strengthen its executive team. Kirsten Moen has been named Chief Operations Officer, bringing extensive experience from organizations like Eaton and Stanley Black & Decker. Moen's expertise in lean manufacturing and process optimization is expected to enhance Shoals' position in the renewable energy industry.

Additionally, Chad Warpula has been appointed as interim Chief Legal Officer. Warpula, a corporate partner at Troutman Pepper, brings a wealth of experience in corporate law, securities, M&A, and governance. These appointments are aimed at driving operational excellence and positioning Shoals to execute its strategy effectively in the evolving energy market.

Shoals Technology Group, Inc. (Nasdaq: SHLS), a global leader in electrical balance of system (EBOS) solutions, is hosting its inaugural Investor Day on September 5, 2024, in Nashville, TN. The event will feature presentations from CEO Brandon Moss, CFO Dominic Bardos, and other senior leaders, focusing on:

• Strategy for profitable growth and revenue diversification
• Innovative product offerings
• Operational excellence initiatives
• Capital allocation priorities

The company will also introduce long-term financial targets and showcase its positioning for delivering shareholder returns. A live webcast of the event will be available at investors.shoals.com, with registration required.