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FREMONT - Nextracker Inc. (NASDAQ:NXT) shares fell 2% after the solar technology platform provider reported mixed fiscal first-quarter results and issued revenue guidance that failed to impress investors despite beating earnings expectations.
The company reported first-quarter adjusted earnings per share of $1.16, significantly surpassing analyst estimates of $0.61. Revenue came in at $864 million, well above the consensus estimate of $632.94 million and up 20% year-over-year.
International revenue growth was particularly strong at 27% YoY, while the company maintained its number one global market share position for the tenth consecutive year.
"We are innovating the next generation of energy technology and announced this morning the acquisitions of three robotics and AI technologies," said Dan Shugar, founder and CEO of Nextracker. "As electricity demand accelerates globally, our focus on innovation is creating a broad solar technology platform."
For fiscal year 2026, Nextracker raised its guidance, now expecting revenue between $3.2 billion and $3.45 billion, compared to its previous forecast of $3.2 billion to $3.4 billion. However, the midpoint of this range fell short of analyst expectations of $3.35 billion, likely contributing to the stock’s decline.
The company also reported strong profitability with a GAAP operating margin of 22% and adjusted EBITDA of $215 million, up 23% from the same period last year. Nextracker ended the quarter with $743 million in cash and no debt.
During the quarter, Nextracker invested $86.8 million in strategic acquisitions to support new growth initiatives, including three advanced robotics and AI acquisitions made over the past four quarters with an aggregate investment exceeding $40 million.
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