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

Nextpower

14/05/2024 23:44

* Nextracker Inc  NXT.OQ  reported quarterly adjusted
earnings of
96 cents​​ per share for the quarter ended in March, higher than
the same quarter last year, when the company reported EPS of 38
cents.  The mean expectation of twenty one analysts for the
quarter was for earnings of 78 cents per share. Wall Street
expected results to range from 53 cents to $2.48 per share.
    * Revenue rose 42.1% to $736.52 million from a year ago;
analysts
expected $681.93 million. 
    * Nextracker Inc's reported EPS for the quarter was $1.51​.
    * The company reported quarterly net income of $205.16
million.
    * Nextracker Inc shares had fallen by 23.5% this quarter and
lost 8.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 5.6%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 21 "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
$64.50 
This summary was machine generated from LSEG data May 14 at
10:44 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
 Mar. 31 2024      0.78           0.96           Beat
 Dec. 31 2023      0.48           0.96           Beat
 Sep. 30 2023      0.36           0.65           Beat
 Jun. 30 2023      0.29           0.48           Beat