We recently published 10 Stocks Hit by Painful Plunge. Nextracker Inc. (NASDAQ:NXT) is one of the best-performing stocks on Wednesday.
Nextracker dropped its share prices by 9.28 percent on Wednesday to end at $58.88 apiece as investors appeared to have already priced in an optimistic growth outlook for the full fiscal year 2026 amid the anticipated expiration of tax credits by the end of 2025.
In a statement, Nextracker Inc. (NASDAQ:NXT) raised its net income growth outlook for the fiscal year ending March 2026 to a range of $496 million to $543 million with revenues between $3.2 billion and $3.45 billion.
Photo by andreas gucklhorn on Unsplash
Analysts previously expected that companies benefiting from tax solar credits would see a surge in sales through the end of the year as customers rush to take advantage of the credits before the expiration date.
“Our outlook assumes the current US policy environment remains in effect, and in addition, that permitting processes and timelines will remain consistent with historical levels,” Nextracker Inc. (NASDAQ:NXT) said.
Nextracker Inc. (NASDAQ:NXT) also posted a strong earnings performance in the first quarter of fiscal year 2026, ending June, having grown its net income by 25.6 percent to $157 million from $125 million in the same period last year.
Revenues also increased by 20 percent to $864 million from $720 million year-on-year.
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