PORTLAND, Tenn. (AP) — PORTLAND, Tenn. (AP) — Shoals Technologies Group Inc. (SHLS) on Tuesday reported fourth-quarter net income of $7.8 million.
On a per-share basis, the Portland, Tennessee-based company said it had net income of 5 cents. Earnings, adjusted for one-time gains and costs, were 8 cents per share.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.
The solar energy equipment supplier posted revenue of $107 million in the period, which beat Street forecasts. Seven analysts surveyed by Zacks expected $101.1 million.
For the year, the company reported profit of $24.1 million, or 14 cents per share. Revenue was reported as $399.2 million.
For the current quarter ending in March, Shoals Technologies said it expects revenue in the range of $70 million to $80 million.
The company expects full-year revenue in the range of $410 million to $450 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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