The framework agreement targets multi-gigawatt solar module frame supply over several years valued at over $75 millionFREMONT, Calif. and AUSTIN, Texas, Oct. 15, 2025 (GLOBE NEWSWIRE) -- Nextracker (NASDAQ: NXT), a leading solar technology platform provider, and T1 Energy Inc. (NYSE: TE), an advanced manufacturer of solar modules, today announced a strategic framework agreement to use Nextracker’s patented steel module frame technology for T1 Energy’s new 5-GW G1_Dallas solar manufacturing facility. The agr ...

Industry Overview - The industrials sector has performed well despite overall market turbulence, with the Industrial Select Sector SPDR Fund (XLI) rising nearly 17% year-to-date, outperforming the S&P 500 [1] - Factors contributing to the sector's strength include federal government initiatives for reshoring manufacturing, increased infrastructure spending, and defense-related growth [2] Company Highlights - Primoris Services Corp. (NASDAQ: PRIM) reported a strong second-quarter earnings performance, with earnings per share (EPS) of $1.68, exceeding expectations by 58 cents, and a year-over-year revenue increase of 21% [4][5] - Primoris has a significant backlog of $11.5 billion, positioning it well to benefit from the growing demand in data center infrastructure, particularly in cloud and AI sectors [5] - AZZ Inc. (NYSE: AZZ) has successfully realigned its business through strategic divestments and acquisitions, including the purchase of Canton Galvanizing, which enhances its capacity and customer base [8][9] - Dycom Industries Inc. (NYSE: DY) reported an EPS of $3.33, surpassing expectations, with a revenue increase of nearly 15% year-over-year, indicating strong growth potential in the telecommunications and utility infrastructure sectors [11][12] Analyst Ratings and Forecasts - Primoris Services has a moderate buy rating from analysts, with a 12-month stock price forecast averaging $101.67, indicating a potential downside of 14.35% from the current price of $118.70 [4][6] - AZZ Inc. has a moderate buy rating as well, with a 12-month stock price forecast averaging $112.29, suggesting a slight downside of 0.68% from the current price of $113.06 [8][10] - Dycom Industries has a buy rating with a 12-month stock price forecast averaging $289.43, indicating a potential upside of 14.65% from the current price of $252.44 [11][13]

Portfolio Overview - LXP Industrial Trust has gross assets of $4.8 billion and owns 116 properties, with 100% focused on industrial real estate[7] - The portfolio consists of 56.4 million square feet of space, with 48% of tenancy from investment-grade companies[8] - 92% of the portfolio is classified as Class A properties[7] - The portfolio is 94.1% leased with an average rent of $5.14 per square foot[17] Financial Performance and Growth Drivers - The company produced same-store NOI growth of 4.7%[11] - LXP extended 1.3 million square feet of leases year-to-date, increasing Base and Cash Base Rents by 41% and 46%, respectively[11] - Leases expiring through 2030 are estimated to have a ~17% current mark-to-market, potentially increasing initial annual cash rent by $32 million[15, 53] - The company repurchased $28 million of floating rate Trust Preferred Securities at a 5% discount to par[11] Strategic Focus and Market Positioning - LXP is focused on 12 target markets in the Sunbelt and lower Midwest, where population and job growth are 2.3x and 1.7x the national average, respectively[12] - There is $150 billion of advanced manufacturing investment announced in LXP's target markets[12] - The company sold one property for $40 million at a cash capitalization rate of 4.3%[11] - The company has 514 acres of development land available, including 315 acres in Phoenix[68]

Portfolio Highlights - LXP Industrial Trust has gross assets of $4.9 billion[7] - The portfolio consists of 118 properties[7] and is 100% industrial real estate[7] - Approximately 85% of the portfolio is concentrated in 12 target markets[7, 31] - Around 91% of the properties are classified as Class A[7] Financial Performance & Growth Drivers - The company achieved same-store NOI growth of 5.2% in the first quarter of 2025[14] - Leases expiring through 2030 have an estimated mark-to-market opportunity of approximately 18%[17, 53, 63] - The average annual rental escalators are trending up, with a rate of 2.8%[17, 58] and 3.6% on leases signed in 2025[53, 58] - The company estimates $25 million in initial annual cash rent from available leases, equivalent to $0.08 per share or 13% of FFO[53] Balance Sheet & Strategy - LXP's leverage stands at 5.9x Net Debt to Adjusted EBITDA[14, 71, 107] - The company sold one property for approximately $35 million at a cash capitalization rate of 3.8%[14] and another for ~$40 million at a cash capitalization rate of 4.3%[14]