Shoals Technologies Group Cl A (SHLS) said after close Tuesday that it earned $0.2 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $134.2 million, missing estimates by $1.8 million.
In the same quarter a year ago, the company earned $0.1 per share on revenue of $90.8 million.
The stock is down 12.14% to $14.26 after the report.
Shoals Technologies Group Cl A's earnings expanded faster than revenues, signaling widening profit margins.
Wall Street Analysts had an average rating of Buy on the stock prior to the report.
Trading in the five days leading up to the report earned Shoals Technologies Group Cl A a Bullish Sentiment Rank from InvestorsObserver.
Shoals Technologies Group Cl A has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 18, putting Shoals Technologies Group Cl A in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $14.31 on November 1, 2023 and set a 52-week high on November 21, 2022 at $32.43.
Shoals Technologies Group Inc is a provider of electrical balance of system or EBOS solutions for solar energy projects, primarily in the United States. EBOS encompasses components that are necessary to carry electric current produced by solar panels to an inverter. The products are sold principally to engineering, procurement and construction firms that build solar energy projects. In 2022 the company entered the electric vehicle charing market.
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Shoals Technologies Group Cl A Down 12.14% To $14.26 After Earnings Beat
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