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Nextracker Inc. - NXT STOCK NEWS

Welcome to our dedicated page for Nextracker news (Ticker: NXT), a resource for investors and traders seeking the latest updates and insights on Nextracker stock.

Nextracker Inc. (NXT) is a premier provider of intelligent, integrated solar tracker and software solutions. The company’s core business focuses on optimizing solar energy generation by enabling solar panels to follow the sun's movement across the sky, thereby enhancing plant performance. Nextracker's products are pivotal in utility-scale and distributed generation solar projects, ensuring efficient and reliable energy output.

The company’s operations span the globe, with notable presences in the United States, Mexico, Spain, Europe, India, Australia, the Middle East, Africa, and Brazil. This extensive geographical reach underscores Nextracker’s commitment to advancing solar energy infrastructure worldwide.

Recent achievements include the development of advanced solar tracking technologies and the expansion of their software solutions, which provide real-time data analytics and performance monitoring. These innovations help optimize energy production and reduce operational costs, setting new benchmarks in the solar energy sector.

Nextracker has forged strategic partnerships with leading energy companies and utilities, bolstering their market position and driving growth. Their product portfolio includes state-of-the-art solar trackers that adapt to various environmental conditions, ensuring maximum efficiency and durability.

Financially, Nextracker remains robust, with consistent revenue streams from their global projects and ongoing investments in research and development. The company’s commitment to sustainability and renewable energy solutions positions them as a key player in the transition to a greener, more sustainable future.

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Nextracker (Nasdaq: NXT) will release its first quarter fiscal 2025 financial results after the market closes on August 1, 2024. The company will hold a conference call to discuss these results at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on the same day.

A live webcast will be accessible on the Nextracker investor relations website, and a replay with supporting materials will be available after the event.

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Nextracker (NASDAQ: NXT) has acquired Ojjo, a U.S.-based renewable energy firm specializing in foundation technology for utility-scale solar power, for approximately $119 million in an all-cash deal. The acquisition aims to provide a more integrated and complete solution for various soil conditions, enhancing Nextracker's foundations capabilities and market opportunities. This merger builds on a multi-year relationship and will integrate Ojjo's Earth Truss foundation system with Nextracker’s NX Horizon smart solar tracker and advanced software solutions. The transaction was completed on June 20, 2024.

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Nextracker (NXT) and Unimacts (UNX) announced the opening of a new 160,000-square-foot manufacturing facility in Sloan, Nevada. This is the second factory dedicated to Nextracker by Unimacts in the past year, aimed at meeting the growing demand for solar power in the Southwest U.S.

The facility produces steel torque tubes for solar panels and supports over 2 GW of new solar power annually, enough to power 400,000 homes. This expansion is part of Nextracker's broader strategy to reshore manufacturing, having opened or expanded over 20 U.S. facilities since 2021.

The announcement highlights the economic and job growth potential from federal incentives, with a projection of creating 550,000 new clean energy jobs by 2030. The new factory boosts Nextracker’s domestic solar tracker capacity to over 30 GW. Key attendees at the dedication event included representatives from the Nevada Governor’s Office, the White House, Copia Power, American Clean Power, and Edison Electric Institute.

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Nextracker (Nasdaq: NXT) announced that its leaders will present at the J.P. Morgan Energy, Power & Renewables Conference on June 17, 2024.

The presentation will take the form of a Fireside Chat, scheduled for 10:10 a.m. PT / 1:10 p.m. ET.

A live webcast will be available on Nextracker's investor relations website, with a replay accessible after the event.

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Nextracker (Nasdaq: NXT), a leader in intelligent solar tracker and software solutions, reported its financial results for Q4 and FY2024. The company achieved record revenue of $2.5 billion, a 31% increase YoY, and a GAAP net income of $496 million, with diluted EPS of $3.37.

Adjusted EBITDA surged by 150% to $521 million. The company also reported operating cash flow of $429 million and adjusted free cash flow of $427 million. Nextracker shipped over 100 gigawatts globally, marking a significant milestone.

For Q4 FY2024, revenue grew by 42% YoY to $737 million, with GAAP net income of $223 million and diluted EPS of $1.51. The company has a record backlog exceeding $4 billion, indicating strong demand. FY2025 revenue guidance is set between $2.8 billion and $2.9 billion.

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Nextracker and JENNMAR Subsidiary JM Steel expand U.S. supply chain with new facility to triple solar energy project capacity. The Leetsdale steel facility achieves 4 GW of Nextracker-dedicated capacity, supporting American manufacturing and creating jobs.
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Nextracker launches the industry's first low carbon solar tracker solution, NX Horizon™, reducing carbon footprint by up to 35%. The solution showcases Nextracker's commitment to sustainability through circular steelmaking, recycled steel, and optimized logistics. Third-party verification confirms environmental benefits, leading to initial orders from U.S.-based solar projects.
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Nextracker (NXT) will announce its fourth quarter fiscal 2024 and full-year financial results on May 14, 2024, after the market closes. The company will hold a conference call to discuss the results on the same day at 2:00 p.m. PT (5:00 p.m. ET). Investors can access the live webcast on investors.nextracker.com.
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Nextracker (NXT) appoints Charles Boynton as CFO, with David Bennett transitioning to CAO. Boynton brings 30 years of finance experience and solar industry expertise. CEO Dan Shugar praises Boynton's leadership. Bennett to continue as CAO, ensuring a smooth transition. Company aims for long-term growth and shareholder returns.
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Nextracker (NXT) partners with Orrcon Steel to manufacture critical components for smart solar trackers in Australia, with the first delivery to ACCIONA Energia’s 480MWp Aldoga Solar Farm. The collaboration aims to support the local supply chain, create new manufacturing jobs, and enhance clean energy accessibility in Australia.
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FAQ

What does Nextracker Inc. do?

Nextracker provides intelligent, integrated solar tracker and software solutions for utility-scale and distributed generation solar projects.

Where does Nextracker operate?

Nextracker operates in the United States, Mexico, Spain, Europe, India, Australia, the Middle East, Africa, and Brazil.

What are Nextracker’s recent achievements?

Nextracker has developed advanced solar tracking technologies and expanded their software solutions for real-time data analytics and performance monitoring.

What products does Nextracker offer?

Nextracker offers state-of-the-art solar trackers and software solutions that optimize energy production and monitor performance.

Who are Nextracker’s key partners?

Nextracker has strategic partnerships with leading energy companies and utilities around the world.

How does Nextracker contribute to sustainability?

Nextracker’s products enhance solar energy generation efficiency, supporting the transition to renewable energy and a more sustainable future.

What is Nextracker’s financial condition?

Nextracker maintains a strong financial position with consistent revenue streams and ongoing investments in research and development.

How do Nextracker’s solar trackers work?

Nextracker’s solar trackers follow the sun’s movement across the sky to optimize the performance of solar power plants.

What markets does Nextracker serve?

Nextracker serves the utility-scale and distributed generation solar project markets worldwide.

What impact has Nextracker had on the solar energy sector?

Nextracker has set new benchmarks in solar energy efficiency and reliability, helping to advance global solar infrastructure.

Nextracker Inc.

Nasdaq:NXT

NXT Rankings

NXT Stock Data

7.51B
143.25M
0.44%
102.78%
5.4%
Optical Instrument and Lens Manufacturing
Manufacturing
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United States of America
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