Companies /Technology

Nextracker Inc - Class A

NASDAQ: NXT Solar
$89.07
â–² $1.84 (+2.10%) today
Markets open · 2:30pm ET

Q2 2026 Earnings

Reported Oct 23, 2025, 4:07pm ET · SEC source
$1.19
Beat +17.44%
EPS · est. $1.01
$905.3M
Beat +7.78%
Revenue · est. $839.9M
−8.0%
Trailing market
NXT vs S&P since report
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
0+5%+10%+15%Oct 23Oct 24report 4:07pm ETearnings+0.8%+9.5%
0+5%+10%+15%Oct 23Oct 24earnings+0.8%+9.5%
NXT +9.5%S&P 500 +0.8%
0+5%+10%+15%Oct 23Oct 24report 4:07pm ETearnings+1.0%+9.5%
0+5%+10%+15%Oct 23Oct 24earnings+1.0%+9.5%
NXT +9.5%NASDAQ +1.0%
−10%−5%0+5%Oct 22Oct 31report 4:07pm ETearnings+1.5%+2.3%
−10%−5%0+5%Oct 22Oct 31earnings+1.5%+2.3%
NXT +2.3%S&P 500 +1.5%
−10%−5%0+5%Oct 22Oct 31report 4:07pm ETearnings+2.9%+2.3%
−10%−5%0+5%Oct 22Oct 31earnings+2.9%+2.3%
NXT +2.3%NASDAQ +2.9%
+8.74%
Day of report
+0.27%
Next session
+2.99%
One week
−8.36%
30 days

S&P 500 over the same 30 days: −0.33%.

Did NXT Beat Earnings? Q2 2026 Results

Nextracker posted a standout second quarter of fiscal 2026, delivering results well ahead of Wall Street expectations as surging global demand for solar tracker technology powered revenue 42.4% higher year-over-year to $905.27 million, beating the $839.89 million consensus by 7.78%. Adjusted diluted EPS of $1.19 topped the $1.01 analyst estimate by 17.44%, with the company's record backlog exceeding $5.00 billion serving as perhaps the clearest signal that forward momentum remains intact. Adjusted EBITDA reached $223.53 million at a 24.7% margin, while GAAP net income attributable to Nextracker came in at $146.86 million. The quarter also saw record bookings across foundation solutions, its TrueCapture software system, and European markets, alongside the acquisition of Origami Solar to expand into advanced module frame technology. Management raised its full-year revenue outlook to $3.28 billion to $3.48 billion and now expects adjusted diluted EPS of $4.04 to $4.25, reflecting continued confidence in project pipelines even as the company monitors the evolving U.S. regulatory environment for potential disruptions to project timing.

Key Takeaways
  • 42% YoY revenue growth driven by accelerating global demand for solar tracker technology
  • Record backlog exceeding $5 billion
  • IRA 45X advanced manufacturing tax credit vendor rebates and tariffs of approximately $67 million in Q2 FY26
  • Cumulative shipments surpassing 150 GW of tracker systems
  • Record quarterly eBOS bookings, highest in Bentek's 40-year history
  • Record bookings for foundation solutions and TrueCapture

“Nextracker delivered another strong quarter with robust financial performance amid accelerating global demand for our technology. Bookings for our tracker products remain healthy, leading to a record backlog of greater than $5 billion. The company has now shipped over 150 GW of our tracker systems since inception, and we remain highly focused on driving continued growth in our core business.”

Nextracker CEO, on the earnings call

Forward Guidance & Outlook

Nextracker raised its FY2026 annual outlook. Revenue is now expected at $3.275 billion to $3.475 billion (previously $3.2 billion to $3.45 billion). GAAP net income is expected at $499 million to $529 million (previously $496 million to $543 million). GAAP diluted EPS is expected at $3.26 to $3.46 (previously $3.24 to $3.55). Adjusted EBITDA is expected at $775 million to $815 million (previously $750 million to $810 million), excluding approximately $142 million for stock-based compensation, acquisition related costs, and net intangible amortization. Adjusted diluted EPS is expected at $4.04 to $4.25 (previously $3.96 to $4.27). The outlook assumes the current U.S. policy environment remains intact and that permitting processes and timelines remain consistent with historical levels. The company is closely monitoring potential regulatory actions that could impact project timing, investment decisions, and financial results.

NXT YoY Financials

Q2 2026 vs Q2 2025 · SEC filings Q2 2025 Q2 2026
$0$300.0M$600.0M$900.0M$635.6M$905.3MRevenue$224.8M$292.9MGross Profit$133.5M$181.3MOperating Income$115.4M$146.9MNet Income
$0$300.0M$600.0M$900.0MRevenueGross ProfitOperating IncomeNet Income

Figures from SEC filings and company reports. Not investment advice.