Nextpower Q2 revenue rises 22%, beats analyst estimates
Overview
U.S. clean power tech firm's fiscal Q2 revenue rose, beating analyst expectations
Adjusted diluted EPS for fiscal Q2 increased from a year earlier
Company completed Zimmermann PV-Steel Group acquisition and repurchased $162 mln in shares
Outlook
Nextpower raises FY27 revenue outlook to $4.2-$4.45 bln from $4.1-$4.4 bln
Company now sees FY27 GAAP net income of $559-$598 mln, up from $540-$573 mln
Nextpower expects Q3 FY27 revenue to grow about 10% year over year
Result Drivers
PRODUCT DEMAND - Co said record revenue and bookings reflected continued demand for tracker products and accelerating demand for additional products and services
INTEGRATED PLATFORM ADOPTION - Co said customer adoption of its integrated platform, including energy storage and complementary offerings, accounted for about 22% of Q2 revenue
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $1.11 bln | $1.06 bln (23 Analysts) |
Q2 Gross Profit | $345 mln | ||
Q2 Operating Income | $207.55 mln | ||
Q2 Pretax Profit | $215.07 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 26 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the renewable energy equipment & services peer group is "buy"
Wall Street's median 12-month price target for Nextpower Inc is $131.50, about 65.5% above its October 27 closing price of $79.44
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 24 three months ago
Reuters Recommended Reads
Oct 27 - World to add less clean energy capacity this year, renewables agency chief says
Oct 28 - India seeks $220 billion clean energy push to meet 2030 target
Oct 26 - India's Jakson Solar to invest up to $525 million in solar cells, ingot-wafer plants
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)