Nextpower to Acquire Prevalon Energy, Raises Fiscal 2027 Outlook; Shares Gain After Hours
MT Newswires Live
May 29
Nextpower (NXT) agreed to acquire Prevalon Energy, a US joint venture between Mitsubishi Power Americas and EES, for up to $365 million in cash and stock to expand into battery storage and AI data-center infrastructure markets.
The transaction is expected to close in Q2 of fiscal 2027, Nextpower said Thursday in a statement.
The company also raised fiscal 2027 guidance to adjusted diluted EPS of $4.30 to $4.73 on revenue of $4 billion to $4.4 billion. The prior outlook was EPS of $3.19 to $3.56 on revenue of $3.8 billion to $4.1 billion.
Analysts polled by FactSet expect EPS of $4.54 on revenue of $4 billion.
Nextpower shares rose 7.9% in after-hours trading.
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