Nextracker公司公布了2025财年第三季度强劲的财务业绩，超出市场预期并提高了全年盈利指引。公司营收达6.79亿美元，同比增长6%，其中美国市场占66%，国际市场占34%。毛利率（包括45X税收抵免）达到35.5%，调整后EBITDA为1.86亿美元，核心EPS为1.03美元。公司目前100%出货美国制造的跟踪器，并利用IRA国内含量激励措施节省了约1000万美元/100MW系统。软件收入也因TrueCapture项目调试增加而显著增长。公司积压订单达45亿美元，预计未来8个季度将实现87%。

📈Nextracker第三季度营收达6.79亿美元，同比增长6%，主要得益于强劲的需求、高效的执行和稳定的定价策略,美国市场贡献了大部分收入。

💰公司毛利率显著提升，包括45X税收抵免在内达到35.5%，超出预期700个基点，这主要归功于美国国内制造的跟踪器，通过IRA国内含量激励措施节省了成本。

🚀Nextracker软件收入因TrueCapture项目调试增加而显著增长，预计软件收入将贡献总收入的2%左右，显示出公司在技术和服务方面的多元化发展。

🌍公司积压订单达45亿美元，其中包含在澳大利亚、巴西、智利等14个国家的大型项目，预计未来8个季度将实现87%，表明了公司在全球市场的强劲增长势头。

🎯公司提高了2025财年的盈利预期，调整后EBITDA预期提高12%至7.2亿美元，调整后EPS提高20%至3.85美元，展现了公司对未来业绩的信心和积极展望。

US-based solar tracker manufacturer Nextracker has reported strong financial results for Q3 FY2025, exceeding consensus estimates and raising its FY'25 profitability guidance.ROTH analyst Philip Shen said, “Despite the challenging macro, management continues to execute exceptionally and surprise to the upside. While we continue to believe that risks/challenges for the industry are greater than expected, NXT is uniquely outperforming, and likely at the expense of peers.”The company said it now ships 100% US-manufactured trackers, leveraging IRA domestic content incentives for approximately $10 million in savings per 100 MW system. Software revenue has grown significantly year-over-year due to increased TrueCapture project commissioning, with software expected to contribute ~2% of total revenue. FinancialsThe company’s revenues reached $679 million for the quarter, up 6% from Q2 2025, with a 66/34 split between US and international markets. The company states that its growth stems from strong demand, efficient execution, and stable pricing. Gross margin, including the 45X tax credit, reached 35.5%, beating estimates by 700 basis points, while it was 27.8% excluding 45X. The company reported adjusted EBITDA of $186 million (a 48% beat) and a core EPS of $1.03 (a 75% beat). This strong performance in Q3 comes on the back of a strong Q2 (see US Solar Tracker Maker Nextracker Posts Strong Q2 2025 Performance).BacklogAs of the end of the third quarter, Nextracker's backlog was $4.5 billion, with $1 billion in new bookings across 14 countries, including major projects (100-750 MW) in Australia, Brazil, Chile, Europe, India, Peru, and Saudi Arabia. The management expects 87% of the backlog to be realized within the next 8 quarters.GuidanceFor FY'25, Nextracker has reaffirmed its $2.85 billion revenue guidance while increasing its adjusted EBITDA forecast by 12% to $720 million and adjusted EPS by 20% to $3.85, reflecting strong bookings, backlog realization, and improving margins. FY'26 revenue is projected at $3.23 billion, with adjusted EBITDA at $798 million and adjusted EPS at $4.18. FY'27 adjusted EBITDA is expected to reach $895 million, and EPS $4.65. Nextracker anticipates continued execution, pricing power, and market share growth amidst rising demand.