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.
Shoals Technologies Group, Inc. (NASDAQ: SHLS) is a provider of electrical balance of system (EBOS) solutions and components for solar energy and the broader global energy transition market. This news page aggregates company announcements, earnings updates, project milestones, and other disclosures that reflect how Shoals participates in utility-scale solar and energy storage developments.
Investors and observers can find coverage of Shoals’ quarterly financial results, where the company discusses revenue trends, gross margins, operating income, non-GAAP metrics such as Adjusted EBITDA, and changes in backlog and awarded orders. These releases also describe demand drivers for EBOS products and components, as well as the mix of domestic utility-scale and international projects contributing to the company’s pipeline.
The news flow also includes updates on strategic projects and geographic expansion. Recent announcements describe Shoals’ role in large solar and battery energy storage projects, such as the Maryvale Solar and Energy Storage Project in Australia and the Alcones project in Chile, where its Big Lead Assembly (BLA) and other EBOS solutions are deployed. The company also reports on regional leadership appointments, such as a Country Manager for the Pacific region, to support growth in markets like Australia, New Zealand, and the Pacific islands.
Corporate and governance developments, including executive appointments such as the Chief Accounting Officer, are disclosed through press releases and related SEC filings. Shoals also announces participation in investor conferences, fireside chats, and non-deal roadshows hosted by financial institutions, providing additional context for how management communicates with the investment community.
By following this page, readers can monitor Shoals’ reported financial performance, project activity, international expansion, intellectual property developments related to its BLA architecture, and executive-level changes, all drawn from the company’s own news releases and regulatory communications.
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.
Shoals Technologies Group (Nasdaq: SHLS), a leader in electrical balance of system (EBOS) solutions, has signed a non-binding memorandum of understanding (MoU) with United Utilities Environmental Services (UUES) in Riyadh. The partnership aims to localize solar EBOS manufacturing for the Kingdom of Saudi Arabia (KSA) and the region.
The KSA plans to develop up to 130 GW of renewable power generation in the next six years, with a significant focus on solar power. Shoals' plug-and-play, prefabricated EBOS solutions are expected to accelerate this development in a market lacking the necessary trade skills.
The localization of Shoals' products will include solutions that have proven successful in the United States for improving utility-scale project reliability, enhancing developer IRR, and eliminating the need for a skilled workforce in EBOS installation.
Shoals Technologies Group (Nasdaq: SHLS) has secured a favorable initial ruling from the U.S. International Trade Commission (ITC) in its patent infringement case against Voltage, The ruling found that Voltage violated Section 337 of the Tariff Act of 1930 by importing infringing LYNX trunk bus products into the United States. Shoals has also been issued two new patents covering its BLA technology. If upheld, the ruling will prevent unlawful imports of photovoltaic connectors that infringe on Shoals' intellectual property.
Shoals' patented Big Lead Assembly (BLA) connectors offer significant cost savings and maintenance benefits. The company views this ruling as a victory for the U.S. solar industry and American jobs. The ITC investigation is scheduled for completion in late December, with final resolution expected in February 2025. Shoals plans to pursue monetary damages in a separate District Court case against Voltage following the ITC case resolution.
Shoals Technologies Group (Nasdaq: SHLS), a leader in electrical balance of system (EBOS) solutions, has released its 2023 Environmental, Social, and Governance (ESG) report. The report highlights significant progress in ESG initiatives, including:
- First-time reporting of Scope 1 and 2 emissions and total energy usage
- Creation of a cross-functional ESG team
- Addition of key roles such as Director of Sustainability and Director of Quality
- Integration and expansion of environmental and health and safety programs
- Investment in robust data infrastructure
CEO Brandon Moss emphasized the company's commitment to integrating ESG principles into its core identity and strategy. The full report is available on Shoals' website.
Shoals Technologies Group (Nasdaq: SHLS), a leader in electrical balance of systems solutions, has appointed Niharika Taskar Ramdev to its Board of Directors and Audit Committee, effective August 9, 2024. She replaces Peter Wilver, who resigned from the Board. Ms. Ramdev brings extensive experience as a global finance leader, having held senior roles at General Motors, including CFO of Global Cadillac from 2018-2019. She currently serves on the Board of Silgan Holdings (NYSE: SLGN) and has previously served on boards of several public companies. Brad Forth, Chairman of Shoals' Board, expressed confidence that Ms. Ramdev's global experience and proven track record in strategy and operations align well with Shoals' global growth strategy.