Nextracker Stock Price, News & Analysis

Nextracker (Nasdaq: NXT) has announced that it will release its second quarter fiscal 2025 financial results after the market closes on Wednesday, October 30, 2024. The company will host a conference call to discuss these results on the same day at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time).

Investors and interested parties can access a live webcast of the earnings call on the Nextracker investor relations website at investors.nextracker.com. Following the conclusion of the event, a webcast replay and supporting materials will be made available on the same website for those unable to attend the live call.

Nextracker (Nasdaq: NXT), a global provider of intelligent solar trackers, has inaugurated India's first Center for Solar Excellence (CFSE) in Hyderabad. The 13-acre facility aims to advance solar tracker technology and accelerate the region's energy transition. The CFSE features a 30,000 square foot lab, a comprehensive solar tracker installation, and training facilities covering the entire project lifecycle.

The center will focus on developing, testing, and commercializing proprietary technologies in collaboration with supply chain partners, customers, and third-party laboratories. Nextracker has already delivered over 35 utility-scale projects in India, totaling over 5 GW of projects, with 95% content under Make in India for their products. The company aims to develop high-performance solar trackers that enhance energy capture, particularly during peak periods in the early morning and late afternoon.

Nextracker (NXT) has unveiled NX Foundation Solutions, expanding its solar foundations portfolio with the introduction of NX Anchor. This new system optimizes ground-mount solar project development across various soil conditions, following recent acquisitions of Ojjo and Solar Pile International's foundations business.

The comprehensive solution includes expert services for geotechnical reviews, on-site testing, foundation design, and installation support. It features the Ojjo Truss Driver, a patented machine for drilling and pile driving. Nextracker's foundations can result in up to 50% less steel and 70% shallower embedment than traditional pilings, potentially reducing costs and improving project timelines.

With over 100 GW of trackers and 50 GW of compatible foundations shipped, Nextracker aims to streamline solar development on challenging terrains, offering an integrated solution that installs faster and minimizes risks in complex soil conditions.

Nextracker (NXT) reported strong Q1 FY25 financial results, with 50% year-over-year revenue growth to $720 million. The company reaffirmed its FY25 outlook, projecting revenue between $2.8 billion to $2.9 billion. Key highlights include:

- GAAP Net Income of $125 million, up from $64 million in Q1 FY24
- GAAP Diluted EPS of $0.84, compared to $0.43 in Q1 FY24
- Adjusted EBITDA of $175 million, with a 24.3% margin
- Acquisitions of Ojjo, Inc. and Solar Pile International's foundations business
- Expansion of manufacturing facilities and launch of new products

Nextracker maintains a strong balance sheet with over $1.4 billion in total liquidity and continues to see healthy demand for solar trackers in both U.S. and international markets.

Nextracker (Nasdaq: NXT), a leading solar tracking company, has announced its participation in the KeyBanc Capital Markets 25th Annual Technology Leadership Forum. The company will be presenting at a Fireside Chat on August 5, 2024, at 9:30 a.m. PT / 12:30 p.m. ET.

Investors and interested parties can access a live webcast of the presentation through the company's investor relations website at investors.nextracker.com. For those unable to attend the live event, a replay of the webcast will be made available on the same website following the conclusion of the forum.

This presentation provides an opportunity for Nextracker to showcase its technology leadership and engage with investors in the rapidly growing solar energy sector.

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.

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.

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.

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.