Shares of Nextracker Inc. (NXT) are up 18% on Thursday after the company reported third-quarter earnings and revenues that beat Street estimates.
NXT is trading on the Nasdaq at $53.88, up 19.02% or $8.61 per share. It has traded between $28.24 and $54.95 in the past 52-week period.
The company reported a net income of $128.0 million or $0.87 per share for the quarter, an increase from last year's profit of $59.7 million.
On an adjusted basis, it reported income of $142.0 million or $0.96 per share, compared to the income of $43.4 million the prior year.
Analysts on average had expected the company to earn $0.48 per share, according to figures compiled by Thomson Reuters.
Revenue increased to $710.4 million from $513.4 million the previous year. It beat the consensus estimate of $617.95 million.
The company raised its full-year 2024 revenue outlook from the range of $2.3 billion to $2.4 billion to the range of $2.425 billion to $2.475 billion, and adjusted earnings per share from the previous outlook of $1.95 to $2.15 to the range of $2.55 to $2.75 per share.
The consensus estimate for the full-year revenue stands at $2.23 billion and adjusted EPS at $2.12 per share.
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