Shoals Technologies Sees FY 2024 Revenue $370M-$400M Vs $464.65 Est.; Adjusted EBITDA At $96M-$110M, Adjusted Net Income At $62M-$76M, Cash Flow From Operations At $62M-$82M, Capital Expenditures At $15M-$20M, Interest Expense At $15M-$20M
Portfolio Pulse from Benzinga Newsdesk
Shoals Technologies has provided its financial outlook for FY 2024, projecting revenue between $370M and $400M, which is below the estimated $464.65M. The company also expects adjusted EBITDA to be between $96M and $110M, adjusted net income between $62M and $76M, cash flow from operations between $62M and $82M, capital expenditures between $15M and $20M, and interest expense between $15M and $20M.
August 06, 2024 | 8:26 pm
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NEGATIVE IMPACT
Shoals Technologies' FY 2024 revenue projection of $370M-$400M is significantly below the estimated $464.65M, which may negatively impact investor sentiment. The company also provided guidance on adjusted EBITDA, net income, cash flow, capital expenditures, and interest expense.
The revenue projection being significantly below estimates is likely to lead to a negative market reaction. Investors may be concerned about the company's growth prospects and financial health, leading to a potential decline in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100