Nextpower (NXT) Reports Earnings Tomorrow: What To Expect
Solar tracker company Nextpower (NASDAQ:NXT) will be reporting earnings this Thursday after market close. Here’s what you need to know.
Nextpower beat analysts’ revenue expectations last quarter, reporting revenues of $880.5 million, down 4.7% year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates but full-year EBITDA guidance missing analysts’ expectations significantly.
Is Nextpower a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Nextpower’s revenue to grow 9.2% year on year, slowing from the 20% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Nextpower has a history of exceeding Wall Street’s expectations.
Looking at Nextpower’s peers in the electrical equipment segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Bloom Energy delivered year-on-year revenue growth of 166%, beating analysts’ expectations by 27.7%, and Enphase reported a revenue decline of 19.6%, topping estimates by 0.6%.
Read our full analysis of Bloom Energy’s results here and Enphase’s results here.
In the last twelve months or so, the market has shifted its attention from one area of macro importance to the next (AI disintermediation and AI capex spending to geopolitical conflict, rates, and whether the economy is on solid footing or not). While some of the electrical equipment stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 3.3% on average over the last month. Nextpower is down 13.3% during the same time and is heading into earnings with an average analyst price target of $148.61 (compared to the current share price of $95.93).
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