NEXTracker Inc's stock surged 7.17% in post-market trading following the release of its third-quarter fiscal 2026 financial results, which significantly exceeded analyst expectations.
The solar tracking systems provider reported adjusted earnings per share of $1.10 for the quarter, beating the consensus estimate of $0.93. Revenue came in at $909 million, well above analyst forecasts of approximately $813 million. The company also raised its full-year fiscal 2026 guidance, now expecting adjusted EPS of $4.26 to $4.36 and revenue of $3.43 billion to $3.50 billion.
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, the company's board approved a share repurchase program of up to $500 million.