Earnings·October 20, 2026 at 9:44 PM EDT·2 sources
Australian data center operator NextDC's shares plunge 40% after it slashes earnings forecast
Fiscal 2027 revenue guidanceA$475 million to A$500 million, from A$615 million to A$640 million
Fiscal 2027 underlying EBITDA guidanceA$245 million to A$265 million, from A$385 million to A$410 million
What happened
- NextDC shares fell 39.5% after the company cut its fiscal 2027 revenue and underlying EBITDA forecasts.
- The company cited power-supply delays at its M3 Melbourne data center, following community opposition and stalled infrastructure upgrades.
- Jemena does not expect work to resume before February 2027; Citi said delays could affect earnings beyond fiscal 2027.
Share-price decline
39.5%
Fiscal 2027 revenue guidance
A$475 million to A$500 million, from A$615 million to A$640 million
Fiscal 2027 underlying EBITDA guidance
A$245 million to A$265 million, from A$385 million to A$410 million
Expected resumption of Jemena work
Before February 2027
Why it matters
The update highlights execution, permitting and power-availability risks facing data-center operators, with potential implications for earnings forecasts, infrastructure investment and sector valuation.
What to watch. Whether Jemena resumes infrastructure work before February 2027, and whether delays affect earnings beyond fiscal 2027.
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Timeline
- First reported by CNBCOct 21Australian data center operator NextDC's shares plunge 40% after it slashes earnings forecast
- Techmeme reportsOct 21NextDC's stock fell as much as 44% to A$5.15 after the Australian data center company cut its earnings forecast by over a third; shares were above A$16 in June (Nic Fildes/Financial Times)
Who is involved
Australian data center operator NextDC's shares plunge 40% af…NextDCJemenaCiti
Company
Sources (2)
- CNBCOct 21Australian data center operator NextDC's shares plunge 40% after it slashes earnings forecast
- TechmemeOct 21NextDC's stock fell as much as 44% to A$5.15 after the Australian data center company cut its earnings forecast by over a third; shares were above A$16 in June (Nic Fildes/Financial Times)
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