The strong Q1 beat and raised full-year guidance signal accelerating demand in utility solar and battery storage. Monitor Q2 revenue against the $150M-$170M guidance range and watch for margin recovery as tariff headwinds and facility consolidation costs ease. The record backlog provides multi-quarter visibility.
Price Chart
Executive Summary
Shoals Technologies reported Q1 2026 revenue of $140.6M (+74.9% YoY), well above the $129.2M consensus, and adjusted diluted EPS of $0.07 (vs $0.03 a year ago), though GAAP net loss was $0.3M. The company raised its full-year 2026 revenue guidance to $600M-$640M and adjusted EBITDA to $118M-$132M, citing record backlog of $758M and strong demand in utility solar and battery storage markets.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $140.6M, +74.9% YoY vs $80.4M, beating $129.2M consensus
- Adjusted diluted EPS $0.07 vs $0.03 YoY; GAAP net loss $0.3M ($0.00/share)
- Full-year 2026 revenue guidance raised to $600M-$640M (prior undisclosed); Q2 guidance $150M-$170M
- Record backlog and awarded orders of $758.0M, +17.5% YoY
- Adjusted EBITDA $21.1M vs $13.5M YoY; gross margin 29.2% (down from 35.0% due to tariffs and facility costs)
- Operating cash flow -$41.4M in Q1 (vs +$15.6M YoY) due to inventory build and litigation settlement accrual
Financial Impact
Revenue beat consensus by $11.4M (+8.8%); adjusted EPS $0.07 vs consensus $0.06; full-year guidance midpoint $620M implies ~55% YoY growth from 2025 revenue of ~$400M
Risk Factors
- Gross margin compression from tariffs (3.8M impact in Q1) and facility consolidation costs
- Negative operating cash flow due to inventory build and $70M litigation settlement liability
- Ongoing legal expenses for wire insulation shrinkback and shareholder litigation
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3287499 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 7d ago | Press Release | $7.31 | awaiting T+20 | — | $7.34 (+0.34%) |
Aug 4, 2026 11w ago | 8-K | $9.22 $6.70 | ▼ −27.33% | ▼ −26.09% | $7.34 (−20.44%) |
May 5, 2026 24w ago | 8-K | $8.13 $12.46 | ▲ +53.26% | ▲ +48.31% | $7.34 (−9.78%) |
May 5, 2026 24w ago | Press Release | $8.13 $12.46 | ▲ +53.26% | ▲ +48.31% | $7.34 (−9.78%) |
Apr 10, 2026 28w ago | DEFA14A | $6.67 $9.32 | ▲ +39.73% | ▲ +32.00% | $7.34 (+9.97%) |
Apr 9, 2026 28w ago | Press Release | $6.97 $8.33 | ▲ +19.51% | ▲ +11.94% | $7.34 (+5.24%) |
Mar 20, 2026 31w ago | DEFA14A | $6.24 $6.87 | ▲ +10.10% | ▲ +2.68% | $7.34 (+17.55%) |
US Market Status
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