Why Is Nextracker Stock Seeing Blue Skies Premarket Wednesday?

Benzinga05-15

Nextracker Inc. (NASDAQ:NXT) shares are trading higher after the company after the company reported better-than-expected fourth-quarter financial results.

Revenue rose 42% to $736.5 million, beating the consensus of $681.93 million. Adjusted EPS of $0.96 beat the street view of $0.78.

Adjusted EBITDA rose to $159.6 million from $72.5 million a year ago, with a margin of 21.7% (an expansion from 14.0% a year ago).

As of FY24, the company had backlog of over $4 billion, with strong demand in U.S. and international markets.

Dan Shugar, founder and CEO of Nextracker, said, “Fiscal year 2024 was a year of strong execution and significant growth for Nextracker, and we reached a record backlog of over $4 billion that more than tripled in 2 years.”

“We also reached a tremendous milestone being the first U.S. solar company to surpass 100 gigawatts of global shipments since Nextracker’s inception, which underscores our sustained leadership position in the market.”

As of March 31, cash and cash equivalents stood at $474.1 million.

Outlook: For FY25, the company expects revenue of $2.8 billion-$2.9 billion (street view of $2.89 billion), adjusted EPS of $2.89-$3.09 (vs. consensus of $3.15), and adjusted EBITDA of $600 million-$650 million.

Investors can gain exposure to the stock via Invesco Solar ETF (NYSE:TAN) and Global X CleanTech ETF (NASDAQ:CTEC).

Also Read: Nextracker’s Solar Ascendancy: Analyst Forecasts Doubling of Addressable Market Despite Valuation Hurdles

Price Action: NXT shares are up 13.9% at $48.97 premarket at the last check Wednesday.

Image: Andreas from Pixabay

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.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2435342633?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-05-15 18:46","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2435342633","market":"us","top_or_hot":-1,"title":"Why Is Nextracker Stock Seeing Blue Skies Premarket Wednesday?","media":"Benzinga","content":"<html><body><p><strong>Nextracker Inc. </strong>(NASDAQ:NXT) shares are trading higher after the company after the company reported better-than-expected fourth-quarter financial results.</p>\n<p>Revenue rose 42% to $736.5 million, beating the consensus of $681.93 million. Adjusted EPS of $0.96 beat the street view of $0.78. </p>\n<p>Adjusted EBITDA rose to $159.6 million from $72.5 million a year ago, with a margin of 21.7% (an expansion from 14.0% a year ago).</p>\n<p>As of FY24, the company had backlog of over $4 billion, with strong demand in U.S. and international markets.</p>\n<p>Dan Shugar, founder and CEO of Nextracker, said, “Fiscal year 2024 was a year of strong execution and significant growth for Nextracker, and we reached a record backlog of over $4 billion that more than tripled in 2 years.” </p>\n<p>“We also reached a tremendous milestone being the first U.S. solar company to surpass 100 gigawatts of global shipments since Nextracker’s inception, which underscores our sustained leadership position in the market.”</p>\n<p>As of March 31, cash and cash equivalents stood at $474.1 million.</p>\n<p><strong>Outlook</strong>: For FY25, the company expects revenue of $2.8 billion-$2.9 billion (street view of $2.89 billion), adjusted EPS of $2.89-$3.09 (vs. consensus of $3.15), and adjusted EBITDA of $600 million-$650 million.</p>\n<p>Investors can gain exposure to the stock via <strong>Invesco Solar ETF </strong>(NYSE:TAN) and <strong><a href=\"https://laohu8.com/S/EFFE\">Global X</a> CleanTech ETF</strong> (NASDAQ:CTEC).</p>\n<p><strong><em>Also Read</em></strong><em>: Nextracker’s Solar Ascendancy: Analyst Forecasts Doubling of Addressable Market Despite Valuation Hurdles</em></p>\n<p><strong>Price Action</strong>: NXT shares are up 13.9% at $48.97 premarket at the last check Wednesday.</p>\n<p><em>Image: Andreas from Pixabay</em></p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Is Nextracker Stock Seeing Blue Skies Premarket Wednesday?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Is Nextracker Stock Seeing Blue Skies Premarket Wednesday?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-15 18:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/earnings/24/05/38838607/why-is-nextracker-stock-seeing-blue-skies-premarket-wednesday><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Nextracker Inc. (NASDAQ:NXT) shares are trading higher after the company after the company reported better-than-expected fourth-quarter financial results.\nRevenue rose 42% to $736.5 million, beating ...</p>\n\n<a href=\"https://www.benzinga.com/news/earnings/24/05/38838607/why-is-nextracker-stock-seeing-blue-skies-premarket-wednesday\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CTEC","symbol_name":"Global X Clean Tech ETF","start_time":0,"source_url":"https://www.benzinga.com/news/earnings/24/05/38838607/why-is-nextracker-stock-seeing-blue-skies-premarket-wednesday","article_id":"2435342633","we_media_id":"1052270027","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2435342633","pubTimestamp":1715769998,"sourceInfo":null,"weMediaInfo":{"media_name":"Benzinga","introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"summary":"Nextracker shares up on better-than-expected Q4 results. Revenue rose 42%, adjusted EBITDA up to $159.6M, and backlog of $4B.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"CTEC":"Global X Clean Tech ETF","BK4585":"ETF&股票定投概念","NXT":"NEXTracker Inc","BK4588":"碎股","BK4096":"电气部件与设备","TAN":"太阳能ETF-Guggenheim"},"translate_title":"为什么Nextracker的股票在周三盘前看到蓝天？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CTEC":0.9,"NXT":0.9,"TAN":0.9},"content_text":"Nextracker Inc. (NASDAQ:NXT) shares are trading higher after the company after the company reported better-than-expected fourth-quarter financial results.\nRevenue rose 42% to $736.5 million, beating the consensus of $681.93 million. Adjusted EPS of $0.96 beat the street view of $0.78. \nAdjusted EBITDA rose to $159.6 million from $72.5 million a year ago, with a margin of 21.7% (an expansion from 14.0% a year ago).\nAs of FY24, the company had backlog of over $4 billion, with strong demand in U.S. and international markets.\nDan Shugar, founder and CEO of Nextracker, said, “Fiscal year 2024 was a year of strong execution and significant growth for Nextracker, and we reached a record backlog of over $4 billion that more than tripled in 2 years.” \n“We also reached a tremendous milestone being the first U.S. solar company to surpass 100 gigawatts of global shipments since Nextracker’s inception, which underscores our sustained leadership position in the market.”\nAs of March 31, cash and cash equivalents stood at $474.1 million.\nOutlook: For FY25, the company expects revenue of $2.8 billion-$2.9 billion (street view of $2.89 billion), adjusted EPS of $2.89-$3.09 (vs. consensus of $3.15), and adjusted EBITDA of $600 million-$650 million.\nInvestors can gain exposure to the stock via Invesco Solar ETF (NYSE:TAN) and Global X CleanTech ETF (NASDAQ:CTEC).\nAlso Read: Nextracker’s Solar Ascendancy: Analyst Forecasts Doubling of Addressable Market Despite Valuation Hurdles\nPrice Action: NXT shares are up 13.9% at $48.97 premarket at the last check Wednesday.\nImage: Andreas from Pixabay","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2435342633"}