PORTLAND, Tenn. (AP) — PORTLAND, Tenn. (AP) — Shoals Technologies Group Inc. (SHLS) on Wednesday reported fourth-quarter profit of $16.6 million.
On a per-share basis, the Portland, Tennessee-based company said it had net income of 10 cents. Earnings, adjusted for one-time gains and costs, were 12 cents per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.
The solar energy equipment supplier posted revenue of $130.4 million in the period, which also fell short of Street forecasts. Eight analysts surveyed by Zacks expected $131.9 million.
For the year, the company reported profit of $40 million, or 24 cents per share. Revenue was reported as $488.9 million.
For the current quarter ending in March, Shoals Technologies said it expects revenue in the range of $90 million to $100 million.
The company expects full-year revenue in the range of $480 million to $520 million.
_____
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