Nextpower's stock surged 19.25% during intraday trading on Wednesday, following the release of its fiscal fourth-quarter results which significantly exceeded analyst expectations.
The energy technology company reported adjusted earnings per share of $1.05, beating the consensus estimate of $0.92. Revenue for the quarter reached $881 million, also surpassing expectations of approximately $826 million. In a major update, Nextpower raised its revenue guidance for fiscal year 2027 to a range of $3.8 billion to $4.1 billion, up from its previous forecast of $3.6 billion to $3.8 billion.
The positive momentum was further bolstered by the company's announcement of a definitive agreement to acquire selected assets of Zigor's power conversion business and its U.S. subsidiary Apex Power for $80.5 million. This strategic move is designed to accelerate Nextpower's entry into the power conversion market and expand its capabilities in battery storage and data center verticals. Additionally, the company reported a record order backlog of over $5.25 billion, providing strong visibility for future growth. Multiple analysts responded by raising their price targets on the stock, reflecting increased confidence in the company's growth trajectory.
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