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Shoals’ Q1 2024 Net Income Drops 72% YoY on Lower Sales

Revenue also decreased 14% YoY due to a drop in production days and project delays

May 9, 2024

/ Arjun Joshi
/ Finance and M&A, Other
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Shoals Technologies Group, a manufacturer of Electrical Balance of Systems (EBOS) for solar, energy storage, and eMobility, reported a net income of $4.8 million during the first quarter (Q1) of 2024, a year-over-year (YoY) decline of 72% from $17 million.

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Arjun Joshi

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