Solar tracker company Nextpower (NASDAQ:NXT) will be announcing earnings results this Tuesday after market hours. Here’s what to expect.
Nextpower beat analysts’ revenue expectations by 8.6% last quarter, reporting revenues of $905.3 million, up 42.4% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ revenue estimates but a significant miss of analysts’ adjusted operating income estimates.
Is Nextpower a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Nextpower’s revenue to grow 19.8% year on year to $813.8 million, a reversal from the 4.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.94 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Nextpower has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 8.6% on average.
Looking at Nextpower’s peers in the electrical equipment segment, some have already reported their Q4 results, giving us a hint as to what we can expect. LSI posted flat year-on-year revenue, beating analysts’ expectations by 4.9%, and Teledyne reported revenues up 7.3%, topping estimates by 2.5%. LSI traded up 8.6% following the results while Teledyne was also up 9.8%.
Read our full analysis of LSI’s results here and Teledyne’s results here.
There has been positive sentiment among investors in the electrical equipment segment, with share prices up 9.2% on average over the last month. Nextpower is up 15.9% during the same time and is heading into earnings with an average analyst price target of $104.23 (compared to the current share price of $104.63).
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