Nextracker's shares soar after strong quarterly results and positive revenue guidance.

From CNBC: 2024-10-31 10:54:56

Nextracker’s shares soared after reporting strong quarterly results, exceeding revenue expectations at $635.6 million, with a 49% increase in earnings per share. The company’s backlog increased to over $4.5 billion, with 90% expected to be realized in the next eight quarters. Nextracker also plans to deliver domestically made solar trackers by the end of 2024. The company reaffirmed its 2025 revenue guidance of $2.8 billion to $2.9 billion, adjusting EBITDA guidance to $625 million to $665 million and EPS guidance to $3.10 to $3.30. Analysts are optimistic, with Mizuho Securities reiterating a buy-equivalent rating.



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