Overview

* Nextracker ( NXT ) fiscal Q2 rev grows 42% yr/yr, beating analyst expectations

* Company raises FY26 revenue and profitability outlook

* Record backlog of over $5 bln, new product launches announced

Outlook

* Nextracker ( NXT ) raises FY26 revenue outlook to $3.275 bln-$3.475 bln

* Company updates FY26 adjusted EBITDA forecast to $775 mln-$815 mln

* Nextracker ( NXT ) monitoring regulatory actions that could impact results

Result Drivers

* RECORD BACKLOG - Co reports record backlog of over $5 bln, indicating strong demand for tracker products

* NEW PRODUCT LAUNCHES - Co launched NX PowerMerge eBOS trunk connector, achieving record bookings in Q2

* EXPANSION THROUGH ACQUISITION - Co acquired Origami Solar, launching advanced module frame technology business

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $905 mln $836.70

Revenue mln (22

Analysts

)

Q2 Gross $293 mln

Profit

Q2 $181.34

Operatin mln

g Income

Q2 $182.72

Pretax mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 20 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the renewable energy equipment & services peer group is "buy"

* Wall Street's median 12-month price target for Nextracker Inc ( NXT ) is $87.00, about 3.1% below its October 21 closing price of $89.70

* The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 14 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)