Shares of NEXTracker Inc (NXT) surged 17.30% on Tuesday, October 30th, as the solar tracking systems manufacturer reported impressive third-quarter 2024 results and raised its full-year guidance.

For the third quarter, NEXTracker delivered revenue of $635.6 million, beating analyst estimates of $613.8 million by 3.6%. The company's adjusted earnings per share of $0.97 also topped expectations of $0.61 by a substantial 60% margin. NEXTracker's EBITDA of $172.7 million exceeded forecasts by 35.8%.

Following these strong results, NEXTracker raised its full-year 2024 revenue guidance to $2.85 billion at the midpoint, in line with analyst estimates. More significantly, the company boosted its adjusted EPS guidance for the year to $3.20 at the midpoint, representing a 7% increase from previous projections. NEXTracker's EBITDA guidance was also raised to $645 million, ahead of the consensus estimate of $624.3 million.