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Mar 31, 2024
NEXTracker Q4 2024 Earnings Report
Achieved record revenue and profits.
Key Takeaways
Nextracker reported strong Q4 and FY24 financial results, achieving record revenue and profits. The company reached a record backlog of over $4 billion and surpassed 100 gigawatts of global shipments since its inception.
Revenue reached $737 million, up 42% year-over-year.
GAAP net income was $223 million, with diluted EPS of $1.51.
Adjusted EBITDA was $160 million, up 120% year-over-year (excluding IRA 45X tax credit benefits).
Reached a record backlog of over $4 billion.
Forward Guidance
Nextracker provided FY2025 annual guidance, including revenue between $2.8 billion and $2.9 billion, GAAP net income between $369 million and $399 million, and GAAP diluted EPS between $2.41 and $2.61.
Positive Outlook
- Revenue: $2.8 billion to $2.9 billion
- GAAP net income: $369 million to $399 million
- GAAP diluted EPS: $2.41 to $2.61
- Adjusted EBITDA: $600 million to $650 million (excludes approximately $95 million for stock-based compensation expense and net intangible amortization)
- Adjusted diluted EPS: $2.89 to $3.09 (excludes approximately $0.48 for stock-based compensation expense and net intangible amortization)
Historical Earnings Impact
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Avg. Return Before/After Earnings
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