Shoals Technologies Group (SHLS) Misses Q3 Earnings Estimates

Company Performance - Shoals Technologies Group reported quarterly earnings of $0.08 per share, missing the Zacks Consensus Estimate of$ 0.10 per share, and down from $0.20 per share a year ago, representing an earnings surprise of -20% [1] - The company posted revenues of$ 102.17 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 3.70%, but down from $134.21 million year-over-year [2] - Over the last four quarters, Shoals Technologies has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Performance - Shoals Technologies shares have lost approximately 62.9% since the beginning of the year, contrasting with the S&P 500's gain of 25.8% [3] - The current consensus EPS estimate for the coming quarter is$ 0.09 on revenues of $94.63 million, and for the current fiscal year, it is$ 0.37 on revenues of $383.08 million [7] Industry Outlook - The solar industry, to which Shoals Technologies belongs, is currently ranked in the bottom 26% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Shoals Technologies' stock performance [5]