Shoals Technologies Q3 revenue beats on strong demand, higher project volumes
SHLS•Shoals Technologies’ third-quarter revenue rose 44% to $195.3 million, above the $162.4 million consensus, while adjusted EPS of $0.14 beat estimates. The company expects fourth-quarter revenue of $165 million to $185 million and raised its 2026 revenue outlook to $665 million-$685 million.
1. Quarterly results
Shoals Technologies reported third-quarter revenue of $195.3 million, up 44% and above analyst expectations of $162.4 million. Adjusted EPS was $0.14, compared with the $0.12 consensus. Revenue growth was driven by product demand, market-share gains and higher project volumes.
2. Margins and outlook
Gross margin declined, which the company attributed to a new facility ramp-up, product mix and quality-related costs. Shoals expects fourth-quarter revenue of $165 million to $185 million and adjusted EBITDA of $36 million to $40 million. It raised its 2026 revenue outlook to $665 million-$685 million.
3. Backlog
The company said backlog growth reflected ongoing demand, particularly in battery energy storage markets.
