New Era Energy & Digital Inc. (NASDAQ:NUAI) shares are booming Thursday after the data center developer beat Wall Street’s third-quarter revenue target. Here’s what you should know.
- New Era Energy & Digital shares are climbing with conviction. Why is NUAI stock up today?
Sales Beat Expectations Even as Losses Widen
New Era revenue totaled $147,674 for the quarter, nearly triple the $50,000 analysts projected. That figure still sits about 7.4% below the $159,411 the company posted a year ago.
New Era lost 15 cents per share, which was worse than the 9-cent loss Wall Street anticipated but narrower than last year’s 20-cent loss.
Investors appear to be looking past the wider-than-expected loss and focusing on the revenue beat and the year-over-year improvement.
Vistra Power Deal Anchors the Texas Campus
New Era signed a 20-year agreement with Luminant, an affiliate of Vistra Corp (NYSE:VST), to supply steady power to its Texas Critical Data Centers project, known as TCDC. The contract guarantees at least 200 megawatts and as much as 207 megawatts for Phase 1. Electricity should start flowing in the third quarter of 2027.
CEO Charlie Nelson said New Era has posted the required cash collateral and strengthened its finances. The company now aims to close a Phase 1 lease and arrange financing and delivery.
A $64 million private placement let New Era repay Macquarie loans that funded part of the power collateral. As of Oct. 31, the company held $187 million in cash, with $49 million free to use and $138 million restricted. Its only debt, $20 million, is fully secured by cash.
Phase 2 calls for about 550 megawatts of new on-site generation built with Thunderhead Energy Solutions, and the air permit application is already filed. Phase 3 remains in design. New Era says its power setup keeps extra transmission costs away from other Texas electricity customers, and its cooling design aims to hold down water use.
NUAI Shares Are Soaring
NUAI Price Action: New Era Energy shares were up 13.30% at $2.64 at the time of publication on Thursday, according to Benzinga Pro.
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