SHLS - Shoals Technologies Non-GAAP EPS of $0.15 beats by $0.06 revenue of $94.65M beats by $8.68M

• Shoals Technologies press release ( NASDAQ: SHLS ): Q4 Non-GAAP EPS of $0.15 beats by $0.06 .
• Revenue of $94.65M (+97.0% Y/Y) beats by $8.68M .
• Revenue was $94.7 million, compared to $48.0 million for the prior-year period, an increase of 97%, driven by higher sales volumes as a result of greater demand for solar EBOS generally and the Company’s combine-as-you-go system solutions specifically as well as our EV solutions products.
• System Solutions revenue increased 150% while Components revenue decreased 14%, compared to the prior-year period.
• System Solutions represented 86% of revenue in the quarter versus 68% in the prior-year period.
• The Company’s backlog and awarded orders on December 31, 2022 were $428.6 million, representing an increase of 43% versus the same time last year, reflecting continued robust demand for the Company’s products.

• Full Year 2023 OutlookBased on current business conditions, business trends and other factors, for the full year 2023, the Company expects:

  • Revenue to be in the range of $470 million to $510 million
  • Adjusted EBITDA to be in the range of $140 million to $155 million
  • Adjusted net income to be in the range of $87 million to $97 million
  • Interest expense to be in the range of $22 to $26 million
  • Capital expenditures to be in the range of $8 to $12 million

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