L R AS Published on Tuesday 24 May 2022 - n° 405 - Categories:company results
Shoals Technologies' 2022 panel forecast revised downwards
Solar panel manufacturer Shoals Technologies is the latest to adjust its forecasts for the year, due to an "increasingly challenging environment" caused by the US AD/CVD investigation. However, the manufacturer does not believe that the majority of its order book will be affected by the AD/CVD investigation.
The low end of the forecast at the beginning of the year remains in place. It is the high end of the estimates that has been revised downwards. The expected turnover in 2022 is now between 300 and 325 million dollars. EBITDA has been reduced to between $77m and $86m from the previous $79m to $97m. Net profit reduced to $45-53m from $54-69m, due to increased expenses related to growth and staff recruitment.
Q1 2022 revenue was $68 million, up from $46 million in Q1 2021, primarily due to a 73% increase in component revenue. Systems solutions accounted for 69% of total revenue in the quarter, a decrease of four percentage points compared toQ1 2021. Adjusted EBITDA for the period increased by 17% over the prior period to $16.5 million.
https://www.pv-tech.org/shoals-adjusts-outlook-due-to-increasingly-challenging-us-solar-environment/
PV Tech of 18 May 2022
