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 (Nasdaq: SHLS) announced a significant contract for 1 GWdc to supply its BLA and storage solutions for one of the largest solar plus storage projects in the U.S. The company recognizes the growing demand for its solutions that enhance quality and performance while mitigating labor-related risks. Deliveries have started, with completion anticipated by Q4 2023. Shoals, a leader in electrical balance of systems (EBOS) for solar and EV infrastructure, has contributed to over 20 GW of solar installations globally.
Shoals Technologies Group, Inc. (Nasdaq: SHLS) will announce its third quarter 2022 results on November 14, 2022, after market close. A conference call will follow at 5:00 p.m. ET, with a live webcast available on the Company’s Investor Relations website. Interested parties can join via phone or access a replay later. Shoals is recognized for its innovative electrical balance of systems solutions for the solar industry, with deployments exceeding 20 GW globally.
Shoals Technologies Group (Nasdaq: SHLS) has achieved certification for its eMobility charging solutions to UL standards, enhancing its position in the EV infrastructure market. The certified products include the Fuel Power Center and Big Lead Assembly, facilitating faster, lower-cost deployment of EV solutions. This milestone not only underscores Shoals' commitment to safety and performance but also expands its electrical balance of systems (EBOS) offerings from solar to electric vehicles. The company aims to support scalable EV charging infrastructure across various applications.
Shoals Technologies Group (Nasdaq: SHLS) has launched a new North-South Big Lead Assembly (BLA) trunk bus product, optimized for Nextracker's NX Horizon™ solar trackers. This innovation reduces installation labor costs by 43% and DC wiring O&M costs by 60%, while increasing energy yield by 0.25%.
This collaboration aims to enhance installation efficiency and long-term operations and maintenance (O&M) for utility-scale solar projects, showcasing Shoals' commitment to cost-effective renewable energy solutions. The product will be featured at the RE+ trade show in Anaheim, California.
Shoals Technologies Group reported a 23% revenue growth year-over-year, achieving a record $73.5 million in Q2 2022. The company also posted a record gross profit of $28.6 million. Backlog and awarded orders surged 63% year-over-year, reaching $327.2 million. System Solutions contributed 77% of total revenue. However, net income declined to $7.3 million from $9.2 million in the prior-year period due to increased general and administrative expenses. The company reaffirmed its 2022 revenue outlook between $300 million and $325 million.
Shoals Technologies Group, Inc. (Nasdaq: SHLS) has appointed Dominic Bardos as Chief Financial Officer, effective October 3, 2022. Bardos brings over 30 years of global finance experience, previously serving as CFO of Holley Inc. and holding senior finance roles at Tractor Supply Company and Terminix. The CEO of Shoals, Jason Whitaker, expressed optimism about Bardos' contribution to enhancing the company's financial performance and global growth strategies. Bardos holds a Bachelor’s and MBA from the University of Memphis.
Shoals Technologies Group, Inc. (Nasdaq: SHLS) announced a change in its Board of Directors on August 15, 2022. Mr. Peter Jonna has resigned, while Ms. Jeannette Mills and Mr. Robert Julian have been appointed, expanding the Board from seven to eight members. Ms. Mills brings over 30 years of experience in the energy sector and will serve on the Compensation Committee, while Mr. Julian, a financial executive with extensive experience, will serve on the Audit Committee. The new appointments reflect the company's commitment to strong governance and strategic growth.
Shoals Technologies Group, Inc. (Nasdaq: SHLS) has signed an agreement with Consultoria e Inversiones Hondureñas en Energia S.A. (CIHESA) to provide its BLA system for the 53.4 MWdc San José solar project in Honduras. The BLA system is recognized for reducing field work and enhancing safety, quality, and reliability. CIHESA noted that the above-ground design minimizes soil disturbance and accelerates installation time. Power generation is set to commence by the end of Q4 2023, boosting Shoals' international presence in the renewable energy sector.
Shoals Technologies Group, Inc. (Nasdaq: SHLS) will release its Q2 2022 results after market close on August 15, 2022. A conference call will follow at 5:00 p.m. ET on the same day. Investors can access the live webcast through the company's Investor Relations website, or by phone at 1-855-327-6837 (domestic) or +1-631-891-4304 (international). A telephonic replay will be available after the call until August 29, 2022. Shoals is a leader in electrical balance of systems solutions for solar and electric vehicle charging, with over 20 GW of solar systems deployed globally.
Shoals Technologies Group (Nasdaq: SHLS) supports President Biden’s Executive Action aimed at enhancing U.S. solar manufacturing through a 24-month tariff exemption on imported solar panels. CEO Jason Whitaker highlighted the importance of this initiative for solidifying domestic supply chains and creating tens of thousands of American jobs in clean energy. Shoals, a key player with over half of U.S. solar projects utilizing its EBOS solutions, anticipates growth and further job creation at its facilities across Tennessee, Alabama, and California.