Nextracker Jumps With Saudi Joint Venture, 2Q Sales Increase

Dow Jones
2025/10/24
 

By Emon Reiser

 

Shares of Nextracker climbed after the solar-tracking systems company posted a gain to its quarterly sales and announced a joint venture to accelerate solar-technology adoption across the Middle East.

The stock rose 11%, to $100.00, in after-hours trading Thursday, exceeding its 52-week high of $93.90.

Nextracker and Saudi Arabia's Abunayyan Holding signed an agreement to form the joint venture Nextracker Arabia. The new company, based in Saudi Arabia, will manufacture and supply advanced solar-tracking systems and technology to major utility-scale projects across the Middle East and North Africa region.

Nextracker on Thursday also reported $905.3 million in revenue for the quarter ended Sept. 26, a 42% increase year over year. Analysts polled by FactSet expected $842.8 million.

Profit rose to $146.9 million, or 97 cents a share, from $115.4 million, or 79 cents a share in the year-ago quarter. Analysts polled by FactSet expected 85 cents a share.

The company updated its outlook, boosting the range of its full-year revenue guidance to $3.28 billion to $3.48 billion, from a previous outlook of $3.2 billion to $3.45 billion. Nextracker narrowed its profit guidance, saying it now expects between $3.26 to $3.46 a share, from $3.24 to $3.55 a share for the year.

 

Write to Emon Reiser at emon.reiser@wsj.com

 

(END) Dow Jones Newswires

October 23, 2025 18:50 ET (22:50 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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