Shoals Technologies Shares Soar 21% on Strong Q3 Results
<p><a href='https://financialmodelingprep.com/financial-summary/SHLS'>Shoals Technologies Group, Inc. (NASDAQ:SHLS)</a> shares surged more than 21% on Tuesday following the company’s reported Q3 results, with EPS of $0.10 coming in better than the Street estimate of $0.08. Revenue was $90.8 million, beating the Street estimate of $83.03 million.</p>
<p>With the company posting strong numbers across the board including award and bookings growth of $144 million in the quarter, analysts at Oppenheimer said they believe investors will be increasingly confident in the company's growth trajectory.</p>
<p>The analysts believe the value of shortened construction timelines and skilled labor savings are driving outsized growth, supplementing a strong demand environment of solar where higher electricity prices are outpacing costs from inflation and increased interest rates.</p>
<p>The company provided its fiscal 2022 outlook, expecting revenue in the range of $310-325 million, compared to the Street estimate of $313 million. Adjusted EBITDA guidance was raised to the range of $80-$86 million from $77-$86 million.</p>

NASDAQ:SHLS