Shoals Technologies Group, Inc. (SHLS) released earnings for fourth quarter that decreased from last year
The company's bottom line totaled $7.818 million, or $0.05 per share. This compares with $16.582 million, or $0.10 per share, last year.
Excluding items, Shoals Technologies Group, Inc. reported adjusted earnings of $14.1 million or $0.08 per share for the period.
The company's revenue for the period fell 18.0% to $106.987 million from $130.436 million last year.
Shoals Technologies Group, Inc. earnings at a glance (GAAP) :
-Earnings: $7.818 Mln. vs. $16.582 Mln. last year.
-EPS: $0.05 vs. $0.10 last year.
-Revenue: $106.987 Mln vs. $130.436 Mln last year.
This decline in fourth-quarter revenue was mainly due to lower sales volumes resulting from weak demand as a result of solar project delays that have pushed projects out from 2024, and to a lesser extent, competitive dynamics, volume discounts, and customer mix in the Group’s key markets.
Looking ahead, for the first quarter, SHLS expects revenue of $70 million to $80 million.
For the full-year 2025, the company anticipates revenue of $410 million to $450 million. For the full-year 2024, the Group has recorded revenue of $399.2 million.
SHLS was down by 14.060 percent at $3.85 in the pre-market trade on the Nasdaq.
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