FREMONT, Calif. — Shares of Nextracker Inc. (NASDAQ: NXT) rallied about 14.8% in after-hours trading on Wednesday after the company delivered stronger-than-expected fourth-quarter earnings and lifted its forward guidance for fiscal 2027.
For the quarter ending March 31, 2026, the solar tracking systems company reported adjusted earnings of $1.05 per share, outperforming Wall Street estimates of $0.93. Revenue came in at $881 million, beating expectations of roughly $830 million, though it reflected a 5% decline compared to $924 million in the same period last year.
Despite the quarterly dip, Nextracker achieved a record full-year revenue of $3.56 billion for fiscal 2026, marking a 20% increase year-over-year. The growth was driven by strong demand and consistent order activity across its core solar tracking solutions.
Looking ahead, the company raised its fiscal 2027 revenue forecast to a range of $3.8 billion to $4.1 billion, up from its earlier projection of $3.6 billion to $3.8 billion. The updated midpoint of $3.95 billion slightly exceeds analyst expectations. However, its adjusted earnings per share outlook of $4.21 to $4.59 came in below consensus estimates of $4.79, mainly due to about $50 million in additional planned expenses tied to expansion into the power conversion segment.
CEO Dan Shugar said fiscal 2026 represented a major turning point for the company as it transitions from being a leading solar tracker manufacturer to a broader clean energy technology platform serving utility-scale projects.
Nextracker also posted adjusted EBITDA of $202 million for the fourth quarter and increased its fiscal 2027 EBITDA guidance to between $825 million and $900 million, compared to the previous range of $800 million to $900 million.
In addition, the company announced plans to acquire select power conversion product lines, pending regulatory approval, as part of its strategy to expand into energy storage and data center-related markets.