PORTLAND, Tenn. (AP) 鈥� PORTLAND, Tenn. (AP) 鈥� Shoals Technologies Group Inc. (SHLS) on Tuesday reported second-quarter net income of $12.1 million.
On a per-share basis, the Portland, Tennessee-based company said it had net income of 7 cents. Earnings, adjusted for one-time gains and costs, came to 12 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The solar energy equipment supplier posted revenue of $163.4 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $157.9 million.
For the current quarter ending in September, Shoals Technologies said it expects revenue in the range of $150 million to $170 million.
The company expects full-year revenue in the range of $600 million to $640 million.
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