SHLS · Shoals Technologies Group, Inc.
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Metrics snapshot
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AI Brief
Q2 FY26 earnings call · Aug 4, 2026TL;DR. Shoals reported Q2 revenue of $163.4M (up 47%) and adjusted EBITDA of $31.6M (up ~28%), with record backlog and awarded orders of $801.4M. The company reaffirmed full-year 2026 guidance of $600–$640M revenue and $118–$132M adjusted EBITDA, and won the ITC patent case against Voltage.
- + Q2 revenue grew 47% year-over-year to $163.4M, within guided range
- + Adjusted EBITDA grew ~28% year-over-year to $31.6M
- + Record backlog and awarded orders of $801.4M, up 19% year-over-year, with $699.7M deliverable within four quarters
- + Shoals won the 2025 ITC patent case against Voltage, with damages to be determined in district court
- + New TerraFlow MOU supports potential deployment of up to 5 gigawatts annually of long-duration storage
- + Full-year 2026 guidance reaffirmed: revenue $600–$640M (~30% growth) and adjusted EBITDA $118–$132M (~26% growth)
- − GAAP gross margin compressed to 30.3% from 37.2% year-over-year due to new facility ramp and quality/rework costs
- − GAAP net income declined to $12.1M from $13.9M year-over-year (GAAP EPS $0.07 vs $0.08)
- − Net debt rose to $181.1M; net debt to adjusted EBIT at 1.6x with revolver temporarily expanded by $50M
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders BuyIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
Earlier KPI extraction records exist, but do not meet the current evidence-completeness requirements. No current verified series is available. Earlier figures remain withheld until revalidated; this is not evidence that the company reports no KPIs.
Versus peers
Solar — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
SHLS
this stock
Shoals Technologies Group, Inc.
|
$1.26B | -0.1% | +19.1% | 39.3 | 8.9% |
|
FSLR
First Solar, Inc.
|
$19.10B | -31.2% | +24.1% | 11.0 | 9.8% |
|
NXT
Nextpower Inc.
|
$12.27B | +1.1% | +20.3% | 20.9 | 5.8% |
|
ENPH
Enphase Energy, Inc.
|
$4.41B | +5.8% | +10.7% | 33.1 | 18.1% |
|
SMTGF
SMA Solar Technology AG/ADR
|
$2.32B | +76.2% | — | — | 0.2% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| SHLS | +9.3% | +14.4% | +17.4% | +4.8% | -0.1% |
| SPY | +2.0% | +1.7% | +11.3% | +2.2% | +14.3% |
| vs SPY | +7.3% | +12.7% | +6.1% | +2.7% | -14.4% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.