Nextpower reported third-quarter fiscal 2026 revenue of $909 million, a 34 percent year-over-year increase from $679 million in Q3 FY25, and GAAP net income of $131 million, up 12 percent. Adjusted diluted EPS of $1.10 exceeded the prior year’s $1.03 and topped consensus of $0.93. Gross margin held at 32.4 percent on an adjusted basis, while adjusted EBITDA reached $214 million, representing a 15 percent annual gain. Management attributed the outperformance to robust demand for solar tracking systems, expanded bundled offerings and vendor rebates under the Inflation Reduction Act, which contributed approximately $53 million to Q3 results. The company raised its full-year revenue outlook to a range of $3.425 billion to $3.500 billion and lifted adjusted EBITDA guidance to $810 million–$830 million, reflecting confidence in continued backlog conversion and margin stability.

Following the Q3 release, KeyBanc upgraded Nextpower to overweight from sector weight, joining three other firms that raised price targets. Prior to the upgrade, 21 of 28 analysts held a buy or better rating, and the consensus 12-month target was generally aligned with current trading levels. Options activity surged, with call volume four times typical levels and open interest highest in near-term strikes, signaling trader conviction in further upside. The equity’s year-to-date performance outpaced renewable energy peers, supported by a record backlog and favorable technical indicators such as sustained support at the rising 20-day moving average.

Nextpower advanced several strategic initiatives, including the launch of its Southeast U.S. operations hub and a new remote monitoring center, expansion of domestic manufacturing capacity, and attainment of an investment-grade credit rating from Fitch. The company authorized a share repurchase program of up to $500 million over three years, underscoring disciplined capital allocation. Internationally, Nextpower formed a joint venture in Saudi Arabia to supply 2.25 GW of smart solar trackers to a major consortium and secured record bookings in Europe and Australia, including a 552 MW bundled project in Texas. Management reaffirmed that sustained policy stability and streamlined permitting remain key drivers for fiscal 2026 performance.