Yahoo Finance Nextracker (NXT) To Report Earnings Tomorrow: Here Is What To Expect
Solar energy company Nextracker (NASDAQ:NXT) will be reporting results tomorrow after the bell. Here's what you need to know.
Nextracker beat analysts' revenue expectations by 7.7% last quarter, reporting revenues of $736.5 million, up 42.1% year on year. It was a very strong quarter for the company, with an impressive beat of analysts' backlog sales estimates.
Is Nextracker a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Nextracker's revenue to grow 28.5% year on year to $616.1 million, improving from the 18.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.65 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Nextracker has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 5.6% on average.
Looking at Nextracker's peers in the electrical equipment segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Corning delivered year-on-year revenue growth of 3.5%, meeting analysts' expectations, and Badger Meter reported revenues up 23.2%, topping estimates by 6.5%. Badger Meter traded up 3.7% following the results.
Read our full analysis of Corning's results here and Badger Meter's results here.
There has been positive sentiment among investors in the electrical equipment segment, with share prices up 9.4% on average over the last month. Nextracker is up 4.7% during the same time and is heading into earnings with an average analyst price target of $61.2 (compared to the current share price of $47.45).
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