NXT -6.37%: The data centre operator was lower today despite delivering a solid set of FY22 results, although weaker than expected utilization growth was the issue, prompting today’s pullback. For the past year they reported underlying EBITDA of $169m which was up +26% on the year and slightly better than the estimate of $166.1m. Their guidance for FY23 is for EBITDA of $190-$198m versus consensus of $194.3m. All in all, not a bad update, and inline guidance.
MM is neutral NXT ~$10.30
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