By Connor Hart
Shares of Forgent Power Solutions climbed after the company raised its full-year outlook and more than doubled revenue in the recent quarter, when demand accelerated and orders and backlog grew.
The stock jumped 18% to $53.91 in premarket trading Thursday. Shares went public in February, and Forgent at that time said it would sell 16.6 million shares at $27 apiece in its initial offering.
The maker of electrical equipment used in data centers said before the bell that it now expects adjusted net income of $197 million to $207 million on revenue of $1.35 billion to $1.39 billion for the year. It had previously guided for adjusted net income of $190 million to $200 million on revenue of $1.28 billion to $1.33 billion.
Analysts polled by FactSet are looking for adjusted net income of $195.3 million and revenue of $1.3 billion.
Chief Executive Gary Niederpruem said demand for Forgent's products continues to outpace expectations, reflecting successful manufacturing expansion efforts and robust demand across data-center and grid end markets.
"In an environment where speed-to-power and technical agility are defining project success, customers are increasingly choosing Forgent for our ability to deliver highly customized solutions with greater timeline certainty," he added.
In its fiscal third quarter ended March 31, Forgent posted a profit of $18.3 million, up from $6.88 million a year earlier.
Revenue more than doubled to $378.7 million, ahead of Wall Street models for $329.6 million.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
May 14, 2026 07:11 ET (11:11 GMT)
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