Shoals Technologies reports strong Q3 results and announces merger with ARRAY Technologies
Shoals Technologies Group posted third‑quarter 2026 revenue of $195.3 million, a 43.8% year‑over‑year increase, with gross margin falling to 31.9% and net income of $17.9 million. Adjusted diluted EPS was $0.14 and backlog rose 9.8% to $791.7 million. The company raised its full‑year revenue outlook to $665 million‑$685 million and announced a proposed merger with ARRAY Technologies.
Why it matters
The higher revenue and EBITDA guidance suggest stronger cash flow potential for 2026, which the company says supports the merger rationale. The merger could create a larger player in the energy‑transition infrastructure market, potentially affecting SHLS valuation and competitive positioning.
Key facts
- 1Q3 2026 revenue was $195.3 million, up 43.8% YoY. tradingview.com
- 2Gross profit margin was 31.9%, down from 37.0% YoY. tradingview.com
- 3Net income for the quarter was $17.9 million. tradingview.com
- 4Adjusted diluted EPS was $0.14. tradingview.com
- 5Backlog and awarded orders totaled $791.7 million, a 9.8% YoY increase. tradingview.com
- 6Full‑year 2026 revenue guidance was raised to $665 million‑$685 million. stocktitan.net
Summary written by AlphAI AI Desk from 6 of 6 sources. Not investment advice. Figures are as stated by the linked sources.