Shares of Shoals Technologies Group, Inc. (NASDAQ: SHLS) plummeted 5.02% in Friday's pre-market trading session following the release of its yearly earnings report. The sell-off reflects the market's disappointment with the company's results and revised forecasts.
Although Shoals' revenues were in line with expectations at $399 million, the company missed analysts' earnings per share estimates, reporting $0.14 per share, 16% lower than anticipated. This earnings miss has led analysts to revise their forecasts downward for the next year.
For 2025, analysts now predict revenues of $428 million for Shoals, a 7.2% increase compared to the last 12 months but lower than their previous estimates of $441.5 million. Similarly, earnings per share expectations have been lowered to $0.27 from $0.29. The consensus price target for SHLS shares has fallen 7.4% to $6.61, reflecting the weaker earnings outlook.