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SHLS Price Correlated With Financials For Shoals Technologies

Free historical financial statements for Shoals Technologies Group Inc.. See how revenue, income, cash flow, and balance sheet financials have changed over 7 quarters since 2021. Compare with SHLS stock chart to see long term trends.

SHLS Stock Compared to Quarterly

SHLS Income Statement

Revenue, Net:90823000
Revenue Per Share:0.8039
Cost of Goods & Services Sold:54776000
Gross Profit:36047000
Selling, General & Admin Expense:13853000
Total Operating Expenses:16082000
Operating Income:19965000
Income Taxes:2452000
Net Income:12759000
Earnings Per Share, Basic:0.07
Shares Outstanding, Basic Avg:112975000

SHLS Cash Flow

Operating Activities Net Income:
Depreciation, Depletion & Amortization:2599000
Change in Accounts Receiveable:13825000
Net Cash from Operations:11757000
Net Cash from Operations Per Share:0.1041
Net Cash from Financing Activities:-3196000
Property, Plant & Equipment Purchases:244000
Net Cash from Investing Activities:-747000
Net Change in Cash & Equivalents:7814000

SHLS Balance Sheet

Cash and Cash Equivalents:31616000
Accounts Receivable, Net:71652000
Inventories:81158000
Total Current Assets:183181000
Property, Plant & Equipment, Net:16596000
Total Assets:529892000
Accounts Payable:21383000
Current Portion of Long-Term Debt:2000000
Total Short-Term Liabilities:70373000
Long Term Debt, Non-Current Portion:274929000
Total Liabilities:507222000

Major Holders (from 13F filings)

Investment Type
Change
Value (x$1000)
increase or decrease
Blackrock Inc.
13,214,781 sh
-2,414,366 sh
-15%
$284,777
$27,210
Vanguard Group Inc
6,748,140 sh
15,106 sh
0%
$145,423
$34,462
Clearbridge Investments, LLC
6,229,770 sh
1,089,530 sh
21%
$134,252
$49,541
William Blair Investment Management, LLC
5,210,830 sh
-182,239 sh
-3%
$112,293
$23,415
Invesco Ltd.
4,735,438 sh
387,425 sh
9%
$102,049
$30,394
UBS Asset Management Americas Inc
3,673,265 sh
-2,277,172 sh
-38%
$79,158,864
-$22,236,583
Goldman Sachs Group Inc
3,503,508 sh
-569,889 sh
-14%
$75,501
$8,371
Pictet Asset Management SA
3,131,835 sh
-11,938 sh
0%
$67,491
$15,682
Price T Rowe Associates Inc /Md/
3,130,687 sh
-10,295,808 sh
-77%
$67,467
-$153,802
State Street Corp
3,006,067 sh
98,974 sh
3%
$64,781
$16,872
JPMorgan Chase & Co
2,864,943 sh
-12,317 sh
0%
$61,740
$14,324
Bnp Paribas Asset Management Holding S.A.
2,745,006 sh
-632,214 sh
-19%
$59,155
$3,498
Electron Capital Partners, LLC
2,084,183 sh
605,620 sh
41%
$44,914
$20,547
Geode Capital Management, LLC
1,991,297 sh
-11,597 sh
-1%
$42,912
$9,905
Bamco Inc /Ny/
1,800,000 sh
-200,000 sh
-10%
$38,790
$5,830
Encompass Capital Advisors LLC
1,788,040 sh
-1,382,157 sh
-44%
$38,532
-$13,713
Summit Partners Public Asset Management, LLC
1,768,805 sh
969,021 sh
121%
$38,118
$24,938
Franklin Resources Inc
1,417,393 sh
-72,791 sh
-5%
$30,544
$5,986
Artisan Partners Limited Partnership
1,416,932 sh
-9,769 sh
-1%
$30,535
$7,023
Frontier Capital Management Co LLC
1,205,165 sh
447,824 sh
59%
$25,971
$13,490
COMPANY PROFILE
Organization and Business Shoals Technologies Group, Inc. (the “Company”) was formed as a Delaware corporation on November 4, 2020 for the purpose of facilitating an initial public offering ("IPO") and other related organizational transactions to carry on the business of Shoals Parent LLC and its subsidiaries (“Shoals Parent”).

Shoals Parent is a Delaware limited liability company formed on May 9, 2017. The Company is headquartered in Portland, Tennessee and is a manufacturer of electrical balance of systems (“EBOS”) solutions and components related to solar fields selling to customers across the United States and internationally. Shoals Parent, through its wholly-owned subsidiaries, Shoals Intermediate Holdings LLC (“Intermediate”) and Shoals Holdings LLC (“Holdings”) owns five other subsidiaries through which it conducts substantially all operations: Shoals Technologies, LLC, Shoals Technologies Group, LLC, Solon, LLC, and Shoals Structures, LLC (collectively “Shoals”). Shoals Parent acquired Shoals on May 25, 2017.

On August 26, 2021, the Company acquired 100% of the stock of ConnectPV, Inc. (“ConnectPV”) with cash and Class A common stock. The acquisition was accounted for as a business combination and following the acquisition, the Company immediately converted ConnectPV to a limited liability company (Shoals Connect LLC) and contributed the entity to Shoals Parent, LLC through a series of transactions – see Note 3 - Acquisition of ConnectPV.

Initial Public Offering

On January 29, 2021, the Company closed an IPO of 11,550,000 shares of Class A common stock at a public offering price of $25.00 per share, including shares issued pursuant to the underwriters' over-allotment option. The Company received $278.8 million in proceeds, net of underwriting discounts and commissions of $9.9 million, which was used to purchase 6,315,790 newly-issued membership interests (the “LLC Interests”) from Shoals Parent and 5,234,210 LLC Interests from the founder and Class B unit holder in Shoals Parent at a price per interest equal to the IPO price of $25.00 per share.

Organizational Transactions

In connection with the IPO, the Company and Shoals Parent completed a series of transactions (the "Organizational Transactions") including the following:

• the limited liability company agreement (the “LLC Agreement”) of Shoals Parent was amended and restated to, among other things, (i) provide for a new single class of common membership interests or the LLC Interests in Shoals Parent, (ii) exchange all of the then existing membership interests of the holders of Shoals Parent membership interests for LLC Interests and (iii) appoint the Company as the sole managing member of Shoals Parent;

• the Company's certificate of incorporation was amended and restated to, among other things, (i) provide for Class A common stock with voting and economic rights (ii) provide for Class B common stock with voting rights but no economic rights and (iii) issue 78,300,817 shares of Class B common stock to the former Class B and Class C members of Shoals Parent (the “Continuing Equity Owners”) on a one-to-one basis with the number of LLC Interests they own;

• the acquisition, by merger, of Shoals Investment CTB or the former Class A member of Shoals Parent (the "Class A Shoals Equity Owners"), for which the Company issued 81,977,751 shares Class A common stock as merger consideration (the "Merger").

Follow-On Offering

On July 16, 2021, the Company completed a follow-on offering consisting of 4,989,692 shares of Class A common stock offered by selling shareholders and 10,402,086 shares of Class A common stock offered by the Company. The Company used the proceeds of the sale of Class A common stock to purchase an equal number of LLC Interests and Class B common stock from our founder and management.

Data imported from Shoals Technologies Group Inc. SEC filings. Check original filings before making any investment decision.