Despite low expectations going into the earnings, Nextracker (NASDAQ:NXT) delivered impressive fourth-quarter results, with EBITDA increasing by 23%. EPS of $0.96 and revenue of $736.52 million came in above the Street estimates of $0.55 and $674.4 million, respectively. As a consequence, shares gained more than 14% pre-market today.

The year-end backlog approached the higher end of the expected range between $3.7 billion and $4.1 billion. Fiscal 2025 revenue guidance was in line with sell-side expectations, although the buy-side had anticipated a miss.

However, fiscal 2025 EBITDA, including credits, fell slightly below Wall Street’s expectations, and the EBITDA guidance for the same period is projected to be flat year-over-year, despite a 14% increase in revenue.

Nextracker has indicated that most of its backlog has been cleared of various industry bottlenecks such as permitting, financing, and high-voltage equipment issues, and management remains confident in the company’s growth prospects despite prevailing industry challenges.

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