Shoals Technologies Group Inc

Shoals Technologies Group reported second-quarter 2026 revenue of $163.4 million, up 47% year-over-year and within its guided range. The company added approximately $207 million in new orders, driving a record backlog and awarded orders of $801.4 million, a 19% increase from the prior year. Adjusted EBITDA was $31.6 million, growing 28% year-over-year, while adjusted diluted earnings per share came in at $0.12. Shoals reaffirmed its full-year 2026 guidance, expecting revenue between $600 million and $640 million and adjusted EBITDA between $118 million and $132 million. The company also announced a partnership with TerraFlow to support up to 5 gigawatts of annual long-duration energy storage deployments using its Power Hub Recombiner solution.

Shoals Technologies Group reported second-quarter 2026 revenue of $163.4 million, a 47% increase from the prior-year period, driven by demand from U.S. utility-scale solar customers and its battery energy storage system business. The company added approximately $207 million in new orders during the quarter, lifting its backlog and awarded orders to a record $801 million, up 19% year over year. Adjusted EBITDA rose 27.9% to $31.6 million, while adjusted net income increased 15% to $19.7 million. Management reaffirmed full-year 2026 revenue guidance of $600 million to $640 million and adjusted EBITDA guidance of $118 million to $132 million. Shoals also highlighted future growth opportunities in long-duration storage through its TerraFlow partnership and in data-center power delivery through its AirLink product.

Shares of Shoals Technologies Group rose 4.4% to $11.25 after Jefferies raised its price target on the stock to $12 from $10 while maintaining a Buy rating. The firm cited a positive setup for the second quarter, with backlog conversion expected to drive upside to current estimates, and highlighted Shoals' progress in new end markets such as battery energy storage systems and data center offerings. The broader solar sector also got a boost from news that Cypress Creek Energy and Google started construction on the Steel River Energy Center in Arkansas, the nation's largest solar project to date, signaling strong demand for component suppliers.

Shoals Technologies Group announced a decisive victory in its patent infringement action against Voltage after the U.S. International Trade Commission affirmed a ruling that Voltage violated Section 337 of the Tariff Act of 1930 by importing infringing LYNX trunk bus products. The ITC issued a limited exclusion order restricting Voltage's ability to import the infringing product, and the case now enters a 60-day presidential review period during which Voltage must post a bond equal to 100% of the entered value of the articles to sell them in the U.S. Shoals CEO Brandon Moss stated that the decision validates the company's investment in innovation and U.S.-based manufacturing, reinforcing the protection of American intellectual property in critical energy infrastructure. Shoals designs and manufactures its products in Tennessee and recently opened a Mega facility in Portland, Tennessee.