NASDAQ$SHLS
Shoals Technologies Group Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Shoals reported strong growth in Q4 2023, with revenue increasing and backlog growing, but anticipates a softer first half of 2024 due to project delays.
Shoals Technologies Group, Inc. announced a 38% year-over-year increase in revenue for the fourth quarter of 2023, reaching $130.4 million. The company's backlog and awarded orders also increased by 47% year-over-year to $631.3 million. However, the company anticipates a softer first half of 2024 due to project delays caused by sustained higher interest rates.
- Revenue grew by 38% year-over-year to $130.4 million driven by increased domestic demand for solar EBOS.
- Gross margin was 42.5%, slightly down from 42.7% in the prior-year period due to higher labor costs.
- Backlog and awarded orders increased by 47% year-over-year to $631.3 million, with international markets representing over 13%.
- Net income was $16.6 million, compared to $118.3 million in the prior year, which benefited from a $110.9 million gain on termination of the tax receivable agreement.
Headline financials
Revenue & EPS history
Shoals · Revenue · Quarterly
$130M
Forward guidance
The Company is providing an outlook for the first quarter given the headwinds in the utility scale solar market, which have resulted in certain customers changing order patterns.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
-1.2%
Avg return
Earnings day
-2.4%
Avg return
5 days after
-3.6%
Avg return
30 days after
38%
8 / 21 earnings
Positive
+27.2%
Q1 2023
Best reaction
-22.4%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.8% | +6.8% | +54.2% | |
| Q4 2025 | -22.4% | -40.1% | -34.6% | |
| Q3 2025 | -10.4% | -12.2% | -23.3% | |
| Q1 2025 | +17.3% | +35.4% | +31.4% | |
| Q4 2024 | -4.9% | -32.4% | -23.7% | |
| Q3 2024 | -14.2% | -21.0% | -23.6% | |
| Q2 2024 | -5.7% | -6.2% | +0.4% | |
| Q1 2024 | -15.1% | -21.6% | -20.7% | |
| Q4 2023 | -16.6% | -15.5% | -27.4% | |
| Q3 2023 | -6.7% | -14.2% | -13.0% | |
| Q2 2023 | -5.6% | -11.7% | -24.2% | |
| Q1 2023 | +27.2% | +27.0% | +27.2% | |
| Q4 2022 | +3.7% | +5.6% | -8.0% | |
| Q3 2022 | +20.2% | +33.9% | +19.0% | |
| Q2 2022 | +0.3% | -2.9% | -3.2% | |
| Q1 2022 | +6.7% | +20.1% | +50.9% | |
| Q4 2021 | +10.6% | +12.4% | -16.5% | |
| Q3 2021 | -7.3% | +6.6% | -18.0% | |
| Q2 2021 | -2.4% | -0.1% | -7.3% | |
| Q1 2021 | -8.1% | -10.3% | -12.9% | |
| Q4 2020 | +9.6% | -10.7% | -2.4% | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — | |
| Q4 2019 | — | — | — |
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