Nordex Stock: A Fresh Spanish Order Fuels Momentum Ahead of Earnings

Nordex secures a major Spanish wind project with a 20-year service deal, boosting its order book as shares trade near yearly highs ahead of critical Q1 2026 earnings.

The wind turbine manufacturer Nordex has secured a substantial new order in Spain, providing a timely boost as the company approaches a critical quarterly earnings report. The project, with a base capacity of 80 megawatts, involves the supply and installation of 13 N175/6.X turbines for an undisclosed client. A key feature of the deal is a 20-year service agreement, locking in long-term, high-margin after-sales revenue. The contract also includes an option to expand the wind farm by an additional 40 MW, potentially bringing the total volume to 120 MW, with construction slated to begin in spring 2027.

This operational success arrives as Nordex shares trade near their yearly peak. Closing at EUR 45.82 last Friday, the stock has surged over 200% in the past twelve months and sits just below its 52-week high of EUR 46.18, last touched in mid-March. Year-to-date, the equity has advanced more than 52%.

Investor focus now shifts sharply to the company's upcoming financial calendar. The first major test comes on April 27, when Nordex will release its first-quarter 2026 results. Analysts are forecasting earnings per share of approximately EUR 0.19, a figure that will indicate how effectively the company is converting its robust order backlog into profit. Shortly after, on May 5, the virtual Annual General Meeting is scheduled. The agenda is packed, covering items from discharge resolutions and statutory amendments to expanding the supervisory board to seven members, introducing electronic shares, and various capital measures.

Market experts remain broadly optimistic about the stock's trajectory, though views are not unanimous. Deutsche Bank and Jefferies both maintain "Buy" ratings on Nordex. In contrast, RBC Capital Markets holds an "Underperform" rating, citing concerns over the stock's relative performance within the sector.

Looking further ahead, consensus estimates for the full 2026 financial year point to earnings per share of EUR 1.80. At the current share price, this implies a price-to-earnings ratio of just over 25. For income-focused investors, a projected dividend payout of EUR 0.16 per share adds another layer of attraction. The recent Spanish contract and its potential expansion are set to become the next concrete milestones in Nordex's operational story, following the company's celebration of its 25th stock market anniversary in early April.