Nextracker Inc reports results for the quarter ended in June - Earnings Summary

Nextpower

01/08/2024 23:17

* Nextracker Inc  NXT.OQ  reported quarterly adjusted
earnings of
93 cents​​ per share for the quarter ended in June, higher than
the same quarter last year, when the company reported EPS of 48
cents.  The mean expectation of twenty three analysts for the
quarter was for earnings of 65 cents per share. Wall Street
expected results to range from 52 cents to 78 cents per share.
    * Revenue rose 50.1% to $719.92 million from a year ago;
analysts
expected $617.51 million. 
    * Nextracker Inc's reported EPS for the quarter was 84
cents​.
    * The company reported quarterly net income of $121.7
million.
    * Nextracker Inc shares had risen by 4.8% this quarter and
gained 4.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 3.5%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 23 "strong buy" or "buy," 6
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the renewable
energy
equipment & services peer group is also "buy"

Wall Street's median 12-month price target for Nextracker Inc is
$61.00 
This summary was machine generated from LSEG data August 1 at
10:17 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.65           0.93           Beat
 Mar. 31 2024      0.78           0.96           Beat
 Dec. 31 2023      0.48           0.96           Beat
 Sep. 30 2023      0.36           0.65           Beat