Shoals Technologies Group (NASDAQ:SHLS) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Key Points

• Shoals Technologies Group reported a quarterly earnings per share (EPS) of $0.10, surpassing analyst expectations of $0.08 by $0.02.
• The company's revenue for the quarter was $110.84 million, exceeding estimates of $104.87 million and reflecting an 11.7% year-over-year increase.
• Following the earnings announcement, SHLS stock declined by 9.3%, trading at $4.88 with a significant volume of 7,469,018 shares.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02, Briefing.com reports. Shoals Technologies Group had a return on equity of 7.57% and a net margin of 5.27%. The business had revenue of $110.84 million during the quarter, compared to the consensus estimate of $104.87 million. During the same quarter last year, the firm posted $0.10 EPS. The company's quarterly revenue was up 11.7% on a year-over-year basis. Shoals Technologies Group updated its FY 2025 guidance to EPS and its Q3 2025 guidance to EPS.

Shoals Technologies Group Price Performance

SHLS traded down $0.05 during trading on Friday, reaching $4.72. 5,865,548 shares of the company were exchanged, compared to its average volume of 4,510,813. The company's 50-day moving average is $5.31 and its two-hundred day moving average is $4.40. The company has a market cap of $789.09 million, a price-to-earnings ratio of 36.31, a P/E/G ratio of 0.64 and a beta of 1.61. The company has a quick ratio of 1.58, a current ratio of 2.34 and a debt-to-equity ratio of 0.23. Shoals Technologies Group has a 12-month low of $2.71 and a 12-month high of $7.00.

Institutional Trading of Shoals Technologies Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Shoals Technologies Group in the 1st quarter valued at about $57,000. Royal Bank of Canada raised its holdings in shares of Shoals Technologies Group by 292.5% in the 1st quarter. Royal Bank of Canada now owns 106,531 shares of the company's stock valued at $353,000 after acquiring an additional 79,392 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Shoals Technologies Group by 8.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 517,507 shares of the company's stock valued at $1,718,000 after purchasing an additional 38,983 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Shoals Technologies Group by 184.7% during the 1st quarter. AQR Capital Management LLC now owns 922,358 shares of the company's stock valued at $2,975,000 after purchasing an additional 598,407 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SHLS. Guggenheim raised their price target on Shoals Technologies Group from $6.00 to $8.00 and gave the stock a "buy" rating in a research report on Wednesday. Mizuho cut Shoals Technologies Group from an "outperform" rating to a "neutral" rating and set a $7.00 target price on the stock. in a research report on Monday, July 14th. Wall Street Zen upgraded Shoals Technologies Group from a "hold" rating to a "strong-buy" rating in a research report on Saturday. Barclays lifted their target price on Shoals Technologies Group from $4.00 to $7.00 and gave the company an "equal weight" rating in a research report on Friday, July 18th. Finally, UBS Group decreased their target price on Shoals Technologies Group from $7.50 to $7.00 and set a "buy" rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $9.15.

About Shoals Technologies Group

Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions and components for solar, battery energy, and electric vehicle (EV) charging applications in the United States and internationally. The company designs, manufactures, and sells system solutions for both homerun and combine-as-you-go wiring architectures, as well as offers technical support services.