Welcome to our dedicated page for Shoals Technologies Group news (Ticker: $SHLS), a resource for investors and traders seeking the latest updates and insights on Shoals Technologies Group stock.
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Shoals Technologies Group, Inc. reported financial results for Q1 2024, with quarterly revenue of $90.8 million, gross margin of 40.2%, net income of $4.8 million, and adjusted EBITDA of $20.5 million. Backlog and awarded orders increased 17% year-over-year to $615.2 million. Despite revenue decreasing by 14% compared to Q1 2023, the company remains confident in long-term industry drivers. The company's outlook for Q2 and full year 2024 is cautiously optimistic, expecting revenue in the range of $85-$95 million for Q2 and $440-$490 million for the full year.