Earnings Releases·Nov 4, 2026, 7:10 AM ET

Shoals Technologies Group, Inc. — Third Quarter 2026 Earnings Summary

Revenue rose 43.8% year-over-year to $195.3 million, while gross margin contracted to 31.9% from 37.0% due to manufacturing ramp-up inefficiencies, product mix shifts, and lease accounting amortization.
Full-year 2026 guidance was raised to $665–$685 million in revenue and $129–$133 million in Adjusted EBITDA, with Q4 2026 revenue guidance set at $165–$185 million.
The company entered a merger agreement with ARRAY Technologies, Inc., incurring $0.7 million in transaction costs this quarter, while backlog grew 9.8% year-over-year to $791.7 million.
Net income increased to $17.9 million ($0.11 EPS) and Adjusted Net Income to $24.5 million ($0.14 EPS), though total liabilities rose to $340.6 million and the revolving credit line balance increased to $163.8 million.