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: Sales Look Strong, Though Product Mix Headwinds Impact Margin; Maintaining FVE

Joshua Aguilar

May 5, 2026

Shoals' first-quarter revenue of $140.6 million rose nearly 75% year on year, though adjusted EBITDA margin declined by roughly 180 basis points to 15.0%. Still, adjusted EBITDA exceeded the high end of first-quarter guidance. Shares opened higher before marginally declining intraday May 5.

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Shoals Technologies Group Inc Ordinary Shares - Class A

Shoals Earnings: Sales Look Strong, Though Product Mix Headwinds Impact Margin; Maintaining FVE

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