Its revenue jumped to $924.3 million and topped estimates of $828.1 million.

Nextracker (NXT) stock rose 3.1% in extended trading on Wednesday after the solar company topped Wall Street’s estimates for fourth-quarter earnings.

On an adjusted basis, the company reported earnings of $1.29 per share for the quarter ended March 31, while analysts expected it to post $0.98 per share, according to FinChat data.

The company makes trackers that orient a payload like a solar panel toward the sun. Its revenue jumped to $924.3 million and topped estimates of $828.1 million.

“We posted another strong bookings quarter with backlog again increasing sequentially, supported by robust demand around the globe,” said CEO Dan Shugar.

The Energy Information Administration projects U.S. utilities and independent power producers will add 26 gigawatts (GW) of solar capacity to the U.S. electric power sector in 2025

The company said the general market environment in the U.S. remains strong with substantially increased demand for a 100% domestic content tracker.

The company had a backlog of over $4.5 billion at the end of the fiscal fourth quarter.

Nextracker projected fiscal 2026 revenue of $3.2 to $3.4 billion, while analysts expect it to post revenue of $3.17 billion.

It also projected adjusted earnings between     $3.65 and $4.03 per share, the midpoint was below Wall Street’s expectations of $3.87 per share.

Nextracker also agreed to buy Bentek Corp, a manufacturer of electrical infrastructure used in all types of solar power plants, for $78 million in cash.

“Many key customers have been asking us to offer additional products and services in addition to solar trackers to increase installation speed, improve system performance, and enhance long-term operating reliability,” Shugar said.

Retail sentiment on Stocktwits was in the ‘extremely bullish’ (95/100) territory, while retail chatter was ‘extremely high.’

NXT’s Sentiment Meter and Message Volume as of 11:58 p.m. ET on May 14, 2025 | Source: Stocktwits

One retail trader said the adjusted earnings forecast could explain the muted move in after-hours despite earnings and revenue beating expectations.

Nextracker stock has jumped 47.2% year to date (YTD).

For updates and corrections, email newsroom[at]stocktwits[dot]com.<