Why Is Nextracker Stock Seeing Blue Skies Premarket Wednesday?
Portfolio Pulse from Lekha Gupta
Nextracker Inc. (NASDAQ:NXT) shares are trading higher premarket after reporting better-than-expected Q4 financial results. Revenue rose 42% to $736.5 million, beating the consensus of $681.93 million. Adjusted EPS of $0.96 surpassed the street view of $0.78. The company also reported a record backlog of over $4 billion and strong demand in both U.S. and international markets. For FY25, Nextracker expects revenue of $2.8 billion-$2.9 billion and adjusted EPS of $2.89-$3.09. Investors can gain exposure via Invesco Solar ETF (NYSE:TAN) and Global X CleanTech ETF (NASDAQ:CTEC).
May 15, 2024 | 10:46 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Global X CleanTech ETF, which includes Nextracker Inc., is likely to benefit from Nextracker's strong Q4 results and positive outlook.
As Nextracker is a component of the Global X CleanTech ETF, its strong performance is likely to positively impact the ETF's value.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Nextracker Inc. reported strong Q4 financial results, with revenue up 42% and adjusted EPS beating expectations. The company also has a record backlog of over $4 billion and strong demand in both U.S. and international markets.
The strong financial performance and record backlog indicate robust business growth, which is likely to positively impact the stock price in the short term.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Invesco Solar ETF, which includes Nextracker Inc., is likely to benefit from Nextracker's strong Q4 results and positive outlook.
As Nextracker is a component of the Invesco Solar ETF, its strong performance is likely to positively impact the ETF's value.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50