Key Financial Metrics:
🔹 Adjusted EPS: $1.03 (Est. $0.48) 🟢; UP +7% YoY
🔹 Revenue: $679M (Est. $617.99M) 🟢; DOWN -4% YoY
🔹 Adjusted EBITDA: $186M; UP +11% YoY
🔹 Adjusted Gross Margin: 36.0% (Prev. 29.9%)
Operational Highlights:
🔹 Record Backlog: Exceeds $4.5B, supported by robust demand globally.
🔹 Product Innovation: Launched new features such as NX Horizon Hail Pro™ and NX-Anchor™, increasing market adaptability.
🔹 Manufacturing Capacity: Expanded to over 90 facilities across 19 countries, with >50 GW/year capacity.
🔹 R&D Investment: Significant expansions in the U.S., India, and Brazil, including partnerships with UC Berkeley.
FY25 Guidance:
🔹 Revenue: $2.8B-$2.9B (Est. $2.854B) 🟡
🔹 GAAP EPS: $3.11-$3.31 (Est. $3.26) 🟡
🔹 Adjusted EPS: $3.75-$3.95 (Prev. $3.10-$3.30) 🟢
🔹 Adjusted EBITDA: $700M-$740M (Prev. $625M-$665M) 🟢
Strategic Highlights:
🔸 Shipped the first 100% U.S. domestic content solar trackers under Treasury Guidance.
🔸 Expanded addressable market through advanced products and local manufacturing capabilities.
🔸 Operating cash flow reached $418M year-to-date, with cash and equivalents of $693M at quarter-end.
CEO Dan Shugar's Commentary:
🔸 "Strong execution drove record results, including expanding our backlog and successfully scaling new product launches. Our investments in innovation ensure Nextracker stays at the forefront of solar technology, delivering value to customers and stakeholders globally."
CFO Chuck Boynton's Commentary:
🔸 "Our robust backlog and strong financial performance allow us to confidently raise our FY25 profit outlook while maintaining our revenue guidance."