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Nextracker (NXT) to Report Q4 Earnings: What's in the Cards?

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Nextracker Inc. (NXT - Free Report) is slated to report fourth-quarter and full-year fiscal 2024 results on May 14, after market close.   

In the last reported quarter, the company delivered an earnings surprise of 95.92%. It also delivered a trailing four-quarter average earnings surprise of 56.26%.

Factors to Note

Solid deliveries of Nextracker’s products in the United States as well as the international markets of the Middle East, India and Africa are expected to have boosted its top-line performance in the fiscal fourth quarter.

Increased contract bookings that NXT signed in prior quarters, particularly with international customers from India, Australia, Saudi Arabia and Spain, are also likely to have aided the company’s revenue growth.

Nextracker Inc. Price and EPS Surprise

Nextracker Inc. Price and EPS Surprise

Nextracker Inc. price-eps-surprise | Nextracker Inc. Quote
 

Rising traction for the company’s NX Horizon tracker, XTR and Hail Pro product lines, along with the increased adoption of its TrueCapture software platform, backed by solid solar installation demand, are also likely to have boosted NXT’s revenues.

The Zacks Consensus Estimate for revenues is pegged at $681 million, indicating a 31.4% improvement from the prior quarter’s reported number.

Nextracker continues to increase its investments in research and development (R&D) with an emphasis on technology to lower the levelized cost of solar energy for its customers. These investments are likely to have pushed up its R&D expenses. This is likely to impact its results.  

Nevertheless, solid revenue growth along with benefits from favorable foreign exchange and interest income are likely to have bolstered NXT’s overall bottom-line performance.

The Zacks Consensus Estimate for fiscal fourth-quarter earnings is pegged at 59 cents per share, implying an improvement of 181% from the earlier quarter’s reported figure.

Its cash flow figure is also likely to have reflected favorable year-over-year growth backed by strong net working capital management, customer deposits and higher EBITDA.

What the Zacks Model Unveils

Our proven model predicts an earnings beat for Nextracker this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is the case here.

Earnings ESP: NXT’s Earnings ESP is +9.80%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.

Zacks Rank: Nextracker currently carries a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Recent Solar Releases

Enphase Energy, Inc. (ENPH - Free Report) reported first-quarter adjusted earnings of 35 cents per share, highlighting a 74.5% decline from $1.37 reported in the prior-year quarter. The figure also lagged the Zacks Consensus Estimate of earnings of 42 cents per share by 16.7%.

ENPH’s revenues of $263.3 million missed the consensus estimate of $284 million. The top line also declined 63.7% from the prior-year quarter’s reported figure of $726 million.

First Solar, Inc. (FSLR - Free Report) reported first-quarter 2024 earnings of $2.20 per share, which increased a massive 450% from 40 cents reported in the prior-year quarter. The figure beat the Zacks Consensus Estimate of earnings of $1.90 per share by 15.8%.

First Solar’s net sales were $794.1 million, which surpassed the consensus estimate of $715 million by 11.1%. The top line also improved 44.8% from the year-ago quarter’s $548.3 million.

SolarEdge Technologies, Inc. (SEDG - Free Report) reported a first-quarter adjusted loss of $1.90 per share, wider than the Zacks Consensus Estimate of a loss of $1.58 per share. The bottom line also deteriorated from the prior-year quarter’s reported earnings of $2.90 per share.

The company’s quarterly revenues of $204.4 million surpassed the consensus estimate by 4.9%. However, the top line declined 78.3% from the year-ago quarter’s figure of $943.9 million.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
 

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