Shares of solar tracking systems manufacturer NEXTracker Inc (NXT) skyrocketed by 21.68% on October 31, 2024, as the company reported impressive third-quarter results and raised its full-year guidance, fueling investor optimism.
For the third quarter ended September 30, 2024, NEXTracker delivered revenue of $635.6 million, beating analyst estimates of $613.8 million by 3.6%. The company's adjusted earnings per share (EPS) of $0.97 also topped expectations of $0.61 by a substantial 60% margin, while its 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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.