Shoals Technologies Group Inc reports results for the quarter ended March 31 - Earnings Summary

• Shoals Technologies Group Inc SHLS.OQ reported quarterly adjusted earnings of 3 cents​​ per share for the quarter ended March 31, lower than the same quarter last year, when the company reported EPS of 7 cents. The mean expectation of nineteen analysts for the quarter was for earnings of 4 cents per share. Wall Street expected results to range from 3 cents to 5 cents per share.

• Revenue fell 11.2% to $80.63 million from a year ago; analysts expected $74.48 million.

• Shoals Technologies Group Inc's reported EPS for the quarter was breakeven results​.

• The company reported a quarterly loss of $282 thousand.

• Shoals Technologies Group Inc shares had risen by 13.3% this quarter and lost 32.0% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 58.3% in the last three months.​

• In the last 30 days, two analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy," 7 "hold" and no "sell" or "strong sell." The average consensus recommendation for the electrical components & equipment peer group is also "buy"

• Wall Street's median 12-month price target for Shoals Technologies Group Inc is $6.00

This summary was machine generated from LSEG data May 6 at 01:33 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)