Core Insights - Shoals Technologies Group reported a quarterly revenue of 107.0million,adecreaseof18130.4 million in the prior-year fourth quarter, primarily due to lower sales volumes from solar project delays [4][10] - The adjusted gross profit percentage for the fourth quarter was 37.6%, down from 42.5% in the prior-year period, attributed to competitive pressures and higher material costs [5][8] - The company ended the year with a backlog and awarded orders of 634.7million,reflectingcontinueddemandforitssolarproducts[16]FinancialPerformance−Quarterlynetincomewas7.8 million, compared to 16.6millionintheprior−yearperiod,withbasicanddilutednetincomepershareat0.05, down from 0.10[7][8]−AdjustedEBITDAforthefourthquarterdecreasedto26.4 million from 39.1millionintheprior−yearperiod[8][43]−Forthefullyear2024,revenuewas399.2 million, down from 488.9millionin2023,withnetincomeof24.1 million compared to 42.7millionintheprioryear[10][13]OperationalInsights−Thecompanyexperiencedabook−to−billratioof1.4,indicatinghealthybookingsduringtheperiod[3]−Generalandadministrativeexpensesremainedflatat21.5 million compared to the same period last year, with increases in payroll and employee expenses offset by decreases in professional services [6][12] - The company is optimistic about customer momentum entering 2025, with a focus on improving productivity and mitigating short-term pressures on gross profit [3][4] Market Outlook - The company provided an outlook for the first quarter and full year 2025, anticipating revenue between 70millionto80 million for Q1 and 410millionto450 million for the full year [24][18] - The CEO noted the importance of remaining cautious due to uncertainties in the utility-scale solar market, including tariffs, interest rates, and subsidies [3][18] - The backlog and awarded orders as of December 31, 2024, were approximately flat year-over-year, indicating stable demand despite market challenges [16]
Shoals Technologies (SHLS) GlobeNewswire·2025-02-25 12:00