Shoals Technologies Group Inc Ordinary Shares - Class A

SHLS: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Shoals Earnings: Prioritizing Growth Over Margins Forces Reset in Expectations

Brett Castelli

Feb 24, 2026

Shoals saw fourth-quarter revenue of $148 million, in line with guidance, and EBITDA of $30 million (20.4% margin), below expectations. 2026 guidance calls for $560 million–$600 million revenue (+22% year on year at the midpoint) and $120 million in adjusted EBITDA, consistent with our expectations.

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Shoals Technologies Group Inc Ordinary Shares - Class A

Shoals Earnings: Prioritizing Growth Over Margins Forces Reset in Expectations

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