NextDC Cuts Fiscal 2027 Outlook After Melbourne Power Delay

NextDC shares fell about 42% Wednesday, Oct. 21, after the Australian data center operator cut its fiscal 2027 outlook as a power delay in Melbourne pushed added grid capacity to fiscal 2028. NextDC removed about $98 million in expected net revenue from its forecast after grid-upgrade work was suspended at its M3 site. At the midpoint of its revised ranges, expected net revenue fell about 22%, while underlying earnings before interest, taxes, depreciation and amortization declined about 36%. Some affected contracted capacity had already begun billing.

Source: TokenPost