Key highlights

  • NXT touched a 52-week low on 21 October 2026 and closed at $5.35, down 41.72% for the day.
  • The same day, NEXTDC revised FY27 net Revenue guidance to A$475–500 million and Underlying EBITDA guidance to A$245–265 million, excluding affected M3 contracts.
  • FY27 Capital Expenditure guidance was revised to A$4,500–5,000 million, with Liquidity of A$8,675 million at 30 September 2026.

During the Trading session on 21 October 2026, NEXTDC Ltd (ASX:NXT) shares dropped to a 52-week low. The stock’s closing price was $5.35, down 41.72% on the day. NEXTDC is an ASX 100-listed Australian data centre operator.

What NEXTDC does

NEXTDC Limited designs, builds and operates data centres in Australia and Malaysia, providing power, security and connectivity for cloud providers, enterprises and government.

M3 Melbourne power delay and revised guidance

In an ASX release dated 21 October 2026, the same day as the session described, NEXTDC revised its FY27 guidance because Jemena Electricity Networks suspended parts of electricity network works needed to increase grid Supply to its M3 Melbourne data centre. Jemena attributed the suspension to community and stakeholder opposition and does not expect to resume before February 2027, so the next increase in grid supply is now expected in FY28. A planning decision on M3 Stages 6 and 7 is expected only after the Victorian election on 28 November 2026 and is not expected until 2027.

FY27 net revenue guidance is now A$475–500 million (previously A$615–640 million) and Underlying EBITDA guidance is A$245–265 million (previously A$385–410 million), both excluding the affected M3 contracts, which the August guidance included at about A$140 million of each. Capital expenditure guidance is A$4,500–5,000 million, new development projects and land acquisitions are on hold, and a capex review outcome will be announced by the AGM on 20 November 2026. Liquidity was A$8,675 million and the company reported compliance with its covenants.

Sector context

Large listed companies are followed through earnings, dividends and regulatory developments, and share prices can reach new 52-week levels as results and announcements are digested.

Risks and uncertainties

The company says the affected M3 contracts could carry service level credits and, in some circumstances, customer termination rights, and delays could affect its ability to draw senior Debt while meeting covenants. Closing prices on a single day are not the same as the 52-week high or low price, and a 52-week extreme does not indicate where a share price will move next.

Catalysts to watch

Items to watch include the 20 November 2026 AGM and capex review outcome, Jemena’s works, the Victorian planning decision and the half-year result.

Closing perspective

NEXTDC’s 21 October 2026 release lowered FY27 revenue, EBITDA and capex guidance on the M3 power delay. Further updates are scheduled at the November AGM.