Shoals Technologies (US:SHLS) Globenewswire·2025-08-05 11:00Core Insights - Shoals Technologies Group, Inc. reported a quarterly revenue of $110.8 million, reflecting an 11.7% year-over-year increase, driven by strong demand and project volume [1][5] - The company achieved a gross margin of 37.2% and an operating profit of $16.0 million, although gross profit as a percentage of revenue decreased from 40.3% in the prior year [6][8] - The backlog and awarded orders reached a record level of $671.3 million, indicating a 4.4% increase compared to the previous year, showcasing consistent demand for the company's products [10] Financial Performance - Revenue for the second quarter of 2025 was $110.8 million, up from $99.2 million in the same period last year [5] - Gross profit was $41.2 million, slightly higher than $40.0 million in the prior-year period, but the gross margin percentage decreased to 37.2% from 40.3% [6][8] - Net income increased to $13.9 million from $11.8 million year-over-year, with earnings per share rising to $0.08 from $0.07 [8][29] Operational Highlights - General and administrative expenses rose to $23.1 million, primarily due to increased legal expenses related to ongoing litigation [7] - Adjusted EBITDA for the quarter was $24.5 million, down from $27.7 million in the prior-year period [8] - The company is optimistic about the demand environment and has increased its revenue guidance for the full year 2025 [3][12] Market Position - Shoals Technologies Group is recognized as a leading provider of electrical balance of system solutions and components for the global energy transition market [14] - The company has a significant presence in the renewable energy industry, with solutions deployed on over 70 GW of solar systems globally [14] - The strategic focus on core domestic utility-scale markets is yielding positive results, with growth initiatives expanding exposure to new markets and applications [2][3]