Nextpower (NXT) Q3 2026 earnings summary

Executive summary

• Revenue for Q3 FY26 reached $909 million, a 34% year-over-year increase, driven by strong U.S. and international demand, operational execution, and recent acquisitions.

• Net income rose 12% to $131 million for the quarter and 21% to $435 million for the nine months, reflecting operational growth and cost management.

• Achieved investment grade credit rating, rebranded to Nextpower, and launched a major joint venture in the Middle East.

• Expanded from core tracker business to an end-to-end solar technology platform, including power conversion, storage, and robotics through strategic acquisitions.

• Authorized a $500 million share repurchase program over three years, demonstrating confidence in cash flow and balance sheet strength.

Financial highlights

• Q3 revenue grew 34% year-over-year to $909–$909.4 million; adjusted EBITDA up 15% to $214 million.

• Fiscal year-to-date revenue increased 32% year-over-year to $2.68 billion.

• Q3 GAAP net income was $131 million; adjusted EBITDA margin for Q3 was 23.5%.

• Gross margin for Q3 was 31.7% GAAP and 32.4% adjusted.

• Ended Q3 with $953 million in cash and no debt.

Outlook and guidance

• FY26 revenue guidance raised to $3.425–$3.5 billion; adjusted EBITDA $810–$830 million; adjusted diluted EPS $4.26–$4.36.

• FY26 GAAP net income outlook increased to $525–$540 million.

• Gross margins expected in the low 30s, operating margins in the low 20s.

• Guidance assumes stable U.S. policy and permitting environment; monitoring regulatory risks that could impact project timing.

• Preliminary 2027 guidance remains unchanged from Capital Markets Day.