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FREMONT - Nextracker Inc. (NASDAQ:NXT) shares jumped 10% after the solar technology platform provider reported second-quarter fiscal 2026 earnings that nearly doubled analyst expectations and raised its full-year outlook amid robust global demand.
The company posted adjusted earnings per share of $1.19 for the quarter ended September 26, significantly exceeding the analyst consensus of $0.63. Revenue surged 42% YoY to $905 million, well above the $679.2 million analysts had projected.
Nextracker’s backlog reached a record level of over $5 billion, underscoring strong market demand for its solar tracking systems. The company’s quarterly revenue growth was accompanied by adjusted EBITDA of $224 million, up 29% from the same period last year.
" Nextracker delivered another strong quarter with robust financial performance amid accelerating global demand for our technology," said Dan Shugar, founder and CEO of Nextracker. "The company has now shipped over 150 GW of our tracker systems since inception, and we remain highly focused on driving continued growth in our core business."
The company maintained healthy margins with adjusted gross profit of $300 million, representing a 33.1% margin. Nextracker ended the quarter with $845 million in cash and no debt.
Looking ahead, Nextracker raised its fiscal 2026 guidance, now expecting revenue between $3.275 billion and $3.475 billion, compared to its previous forecast of $3.2 billion to $3.45 billion. The company also increased its adjusted earnings outlook to between $4.04 and $4.25 per share.
Nextracker has been expanding its product portfolio, launching new electrical balance of systems solutions and acquiring Origami Solar to enter the advanced module frame technology business. The company also reported record bookings in Europe and formed a joint venture in Saudi Arabia to expand its Middle East and North Africa presence.
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