04:37 AM EDT, 05/15/2024 (MT Newswires) -- (Updates with the latest stock movement in the headline and first paragraph.)

Nextracker's ( NXT ) shares advanced more than 12% in Wednesday's premarket activity after the company beat analysts' fiscal Q4 expectations.

The company reported fiscal Q4 non-GAAP earnings late Tuesday of $0.96 per diluted share, up from $0.02 a year earlier.

Analysts polled by Capital IQ expected $0.69.

Revenue in the quarter ended March 31 rose to $736.5 million from $518.4 million a year earlier.

Analysts surveyed by Capital IQ expected $684 million.

In fiscal 2025, the company expects adjusted diluted EPS of $2.89 to $3.09 on revenue of $2.8 billion to $2.9 billion. Analysts polled by Capital IQ expect EPS of $3.10 on revenue of $2.87 billion.

Price: 48.50, Change: +5.49, Percent Change: +12.76