PORTLAND, Tenn. (AP) — PORTLAND, Tenn. (AP) — Shoals Technologies Group Inc. (SHLS) on Tuesday reported fourth-quarter net income of $8.1 million.
The Portland, Tennessee-based company said it had profit of 5 cents per share. Earnings, adjusted for one-time gains and costs, were 10 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.
The solar energy equipment supplier posted revenue of $148.3 million in the period, which beat Street forecasts. Four analysts surveyed by Zacks expected $144 million.
For the year, the company reported profit of $33.6 million, or 20 cents per share. Revenue was reported as $475.3 million.
For the current quarter ending in March, Shoals Technologies said it expects revenue in the range of $125 million to $135 million.
The company expects full-year revenue in the range of $560 million to $600 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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