PORTLAND, Tenn. (AP) — PORTLAND, Tenn. (AP) — Shoals Technologies Group Inc. (SHLS) on Tuesday reported fourth-quarter profit of $112.6 million.
On a per-share basis, the Portland, Tennessee-based company said it had net income of 70 cents. Earnings, adjusted for one-time gains and costs, were 15 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.
The solar energy equipment supplier posted revenue of $94.7 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $86.3 million.
For the year, the company reported profit of $127.6 million, or 85 cents per share. Revenue was reported as $326.9 million.
Shoals Technologies expects full-year revenue in the range of $470 million to $510 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SHLS at https://www.zacks.com/ap/SHLS
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