Stock Track | NEXTracker Soars 17.92% on Stellar Q3 Results and Raised Guidance

Stock Track

Oct 31, 2024

Shares of NEXTracker Inc (NXT) surged 17.92% on October 30, 2024, as the solar tracking systems manufacturer 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 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.

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The company's adjusted earnings per share 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%.</p>\n\n<p>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.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NXT","symbol_name":"Nextpower","start_time":0,"source_url":"","article_id":"1195127871","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1195127871","pubTimestamp":1730359855,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of NEXTracker Inc  surged 17.92% on October 30, 2024, as the solar tracking systems manufacturer 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%. 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