Nextracker hits record high after Q2 results beat, FY revenue forecast raise

Nextpower

24/10/2025 14:40

** Shares of solar tracking equipment maker Nextracker NXT.O hit a record high, last up 9.9% at $99.09

** Co slightly lifts FY26 revenue forecast

** Now expects FY26 rev of $3.275 bln-$3.475 bln vs prior forecast of $3.2 bln-$3.45 bln

** Nextracker's Q2 revenue and adj. EPS beat analysts' estimates

** "Bookings for our tracker products remain healthy, leading to a record backlog of greater than $5 bln"- Dan Shugar, CEO of Nextracker

** NXT says it entered into a joint venture with Abunayyan Holding in Saudi Arabia to expand its business in Middle East and North Africa markets

** At least four brokerages raise their PT on stock

** 20 of 28 brokerages rate the stock "buy" or higher, and 8 rate it "hold" ; their median PT is $95 - data compiled by LSEG

** Including session's move, NXT up 147.4% YTD

 (Reporting by Utkarsh Tushar Hathi)

 ((utkarshtushar.hathi@thomsonreuters.com))