NextDC Shares Fall About 40% as Melbourne Power Delay Cuts Outlook

Australian data center operator NextDC’s shares fell about 40% Wednesday after a delay in supplying more power to its M3 Melbourne facility forced it to cut its fiscal 2027 revenue and earnings forecasts.

NextDC cut its fiscal 2027 revenue and underlying EBITDA — earnings before interest, taxes, depreciation and amortization — forecasts.

Power delays stem from a suspension of infrastructure upgrades at the M3 Melbourne data center amid community opposition. Local council consent is also pending further consultation.

Jemena does not expect to resume the work before February 2027.