Overview
- Shoals reported Q2 revenue of $163.4 million, a 47% year-over-year increase driven by U.S. utility-scale solar projects and battery energy storage system demand.
- Adjusted profitability improved in the quarter with adjusted EBITDA rising 27.9% to $31.6 million and adjusted net income up 15% to $19.7 million.
- The company added about $207 million of new orders in Q2, producing a book-to-bill ratio of 1.3 and lifting backlog and awarded orders (BLAO) to a record $801 million.
- Management reaffirmed full-year 2026 guidance of $600 million to $640 million in revenue and $118 million to $132 million in adjusted EBITDA while signaling inventory investments to support second-half cash generation.
- Shoals is expanding capacity and targeting margin gains through factory consolidation at its Portland, Tennessee site and by advancing product initiatives such as the TerraFlow partnership for long-duration storage and the AirLink power-delivery product.