Stock Track | NEXTracker Soars 11.65% in Pre-Market on Strong Q3 Earnings Beat, Raised Guidance, Major Saudi Contract and Share Buyback

Stock Track
01/28

NEXTracker Inc's stock surged 11.65% during pre-market trading on Wednesday, following the release of its third-quarter fiscal 2026 financial results that significantly exceeded analyst expectations.

The solar tracking systems provider reported adjusted earnings per share of $1.10, beating the consensus estimate of $0.93, while revenue reached $909 million, well above forecasts of approximately $813 million. The company also raised its full-year fiscal 2026 guidance and announced a share repurchase program of up to $500 million.

Positive sentiment was further bolstered by news that Nextpower Arabia, a joint venture involving NEXTracker, secured a major contract to supply 2.25 gigawatts of solar trackers for ACWA Power's Bisha Solar project in Saudi Arabia. Additionally, TD Cowen raised its price target on the stock from $88 to $105, citing the company's strong performance and growth prospects.

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