NEXTDC's (ASX:NXT) fiscal 2026 total revenue, net revenue, and underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) exceeded RBC Capital Markets' and consensus estimates, according to a Friday note by the investment firm.
Its total revenue of AU$496.5 million and net revenue of AU$405 million were both 2% above RBC's estimates and 1% higher than consensus. Both figures increased 16% year-over-year.
Its underlying EBITDA of AU$248.8 million was 7% above RBC's estimates and 4% above consensus, up 15% year-over-year. Its management expects contracted EBITDA to exceed AU$1 billion from existing contracts.
Total capital expenditure exceeded the top of the guidance range, reflecting accelerated construction to meet contracted customer delivery dates and the timing of progress and land acquisition payments. The Australian market has elevated hyperscale, neocloud, and large language model demand, with robust retail, enterprise, or sovereign demand across major metros.
The brokerage assigned NEXTDC an outperform rating with a AU$22 per share price target.
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