Solar tracker company Nextracker (NASDAQ:NXT) will be reporting earnings this Thursday after the bell. Here’s what to expect.
Nextracker beat analysts’ revenue expectations by 2.3% last quarter, reporting revenues of $864.3 million, up 20% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ EBITDA estimates but a significant miss of analysts’ adjusted operating income estimates.
Is Nextracker a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Nextracker’s revenue to grow 30.7% year on year to $830.5 million, improving from the 10.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.01 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Nextracker has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 8.1% on average.
Looking at Nextracker’s peers in the electrical equipment segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Vicor delivered year-on-year revenue growth of 18.5%, beating analysts’ expectations by 15.7%, and Badger Meter reported revenues up 13.1%, topping estimates by 1.8%.
Read our full analysis of Vicor’s results here and Badger Meter’s results here.
Investors in the electrical equipment segment have had steady hands going into earnings, with share prices up 1.8% on average over the last month. Nextracker is up 22.8% during the same time and is heading into earnings with an average analyst price target of $81.27 (compared to the current share price of $89.78).
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