Shoals Technologies names Aaron Zadeh as Pacific country manager

PORTLAND, Tenn. - Shoals Technologies Group, Inc. (NASDAQ:SHLS), a provider of electrical balance of system solutions for the energy transition market, has appointed Aaron Zadeh as Country Manager for the Pacific region, the company announced Thursday. The appointment comes as the company, currently valued at $1.03 billion, shows strong momentum with a remarkable 34% return over the past week, according to InvestingPro data.

In his new role, Zadeh will be responsible for Shoals’ business operations in Australia, New Zealand, and the Pacific islands.

Zadeh brings over 20 years of experience in the energy sector, having previously held senior positions at companies including Array Technologies, FIMER, ABB, and AGL. His background includes establishing local manufacturing for Array trackers and developing FIMER and ABB’s inverter and medium-voltage skid integration center.

"Australia is entering a transformative phase in its energy journey, and Aaron’s appointment reflects our confidence in the region’s potential," said Gary Uren, Senior Vice President & General Manager of Shoals International Business, according to the press release.

Zadeh holds an engineering degree in Materials Science and Solar Power, as well as a Master of Business Management from the University of New South Wales.

Shoals Technologies Group, founded in 1996, specializes in electrical balance of systems solutions for renewable energy projects. The company stated that the appointment is part of its strategy to expand its presence in the Australian market.

In other recent news, Shoals Technologies Group reported impressive second-quarter earnings, surpassing analysts’ expectations with an earnings per share (EPS) of $0.10, compared to the forecast of $0.08. The company’s revenue reached $110.8 million, exceeding the anticipated $104.77 million. This strong performance has led Shoals Technologies to raise its 2025 revenue guidance, highlighting robust bookings and backlog growth. Following these results, Roth/MKM upgraded Shoals Technologies’ stock to a Buy rating, citing the company’s strong Q2 performance and increased revenue guidance.

Meanwhile, UBS maintained a Buy rating on the stock but lowered its price target to $7.00 from $7.50, focusing on the company’s margin outlook. Similarly, Jefferies reduced its price target to $6.00 from $7.20 while also maintaining a Buy rating, acknowledging the increased revenue outlook for fiscal year 2025. In another development, Shoals Technologies announced the groundbreaking of the Maryvale Solar and Energy Storage Project in New South Wales, Australia, in collaboration with PCL Construction and Gentari. The project will deliver approximately 243 MW of solar generation capacity paired with 172 MW of battery storage, making it one of Australia’s largest DC-coupled solar and battery energy storage systems.

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