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Jun 28, 2024
NEXTracker Q1 2025 Earnings Report
Nextracker's Q1 FY25 earnings reflected strong revenue growth and strategic acquisitions, further solidifying its market position.
Key Takeaways
Nextracker reported a strong first quarter for fiscal year 2025, marked by significant year-over-year revenue growth and strategic expansions through acquisitions. The company reaffirmed its full-year fiscal 2025 outlook, expecting continued growth and profitability.
Launched NX Horizon Low Carbon Tracker and unveiled Agrivoltaics.
Expanded JM Steel’s Pittsburgh facility and opened a second Nevada factory by Unimacts with Nextracker-dedicated manufacturing.
Acquired Ojjo, Inc. and Solar Pile International’s foundations business to add foundations solutions.
Amended credit agreement, expanding revolver facility from $500 million to $1 billion.
NEXTracker
NEXTracker
Forward Guidance
Nextracker reaffirmed its full-year fiscal year 2025 outlook, anticipating revenue between $2.8 billion and $2.9 billion, GAAP net income between $363 million and $393 million, and adjusted EBITDA between $600 million and $650 million.
Positive Outlook
- Revenue between $2.8 billion and $2.9 billion.
- GAAP Net Income between $363 million and $393 million.
- GAAP Diluted EPS between $2.37 and $2.57.
- Adjusted EBITDA between $600 million and $650 million.
- Adjusted Diluted EPS between $2.89 and $3.09.
Challenges Ahead
- GAAP net income range updated from previous range of $369 million to $399 million to include estimated impact of incremental net intangible asset amortization resulting from acquisitions.
- GAAP diluted EPS range updated from previous $2.41 to $2.61 to include the estimated impact of incremental net intangible asset amortization resulting from acquisitions.
- Adjusted EBITDA excludes approximately $103 million for stock-based compensation and net intangible amortization.
- Adjusted diluted EPS excludes approximately $0.52 for stock-based compensation and net intangible amortization.
- Uncertainties related to the trends for future solar adoption.