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Nextracker Inc (NASDAQ:NXT) shares are rising in extended trading on Thursday after the company reported better-than-expected results for the second quarter of fiscal 2026.
NXT is poised for a potential breakout. See the full breakdown here.
Total revenue was up 42% year-over-year in the second quarter. The solar technology platform provider said its backlog grew to more than $5 billion during the period.
Nextracker ended the quarter with $845 million of cash and cash equivalents, and zero debt.
“Nextracker delivered another strong quarter with robust financial performance amid accelerating global demand for our technology,” said Dan Shugar, founder and CEO of Nextracker.
“The company has now shipped over 150 GW of our tracker systems since inception, and we remain highly focused on driving continued growth in our core business.”
Outlook: Nextracker narrowed its fiscal 2026 adjusted earnings guidance from a range of $3.96 to $4.27 per share to a new range of $4.04 to $4.25 per share, versus estimates of $4.19 per share, according to Benzinga Pro.
The company also raised its fiscal 2026 revenue guidance from a range of $3.2 billion to $3.45 billion to a new range of $3.28 billion to $3.48 billion, versus estimates of $3.40 billion.
In connection with earnings, Nextracker announced that it signed an agreement to form Nextracker Arabia, a new joint venture that aims to help accelerate solar adoption across Saudi Arabia and the Middle East and North Africa (MENA) region.
Nextracker executives will further discuss the quarter on an earnings call set for 5 p.m. ET.
NXT Price Action: Nextracker shares were up 9.26% in after-hours, trading at $98.75 at the time of publication on Thursday, according to Benzinga Pro.
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Posted In: NXT
