Shoals’ Q1 Net Income Jumps Five-fold to $14.3 Million on Strong Demand
System solutions contributed 87% to the total revenue of $105.1 million for Q1
May 11, 2023
Follow Mercom India on WhatsApp for exclusive updates on clean energy news and insights
Manufacturer of electrical balance of system components (EBOS) Shoals Technologies Group’s net income jumped over five-fold year-over-year (YoY) to $14.3 million in the first quarter (Q1) of the financial year (FY) 2023 due to increased demand for solar EBOS generally, and the company’s system solutions specifically.