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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 (NXT) achieved record revenue and profits in Q3 FY2024, with revenue reaching $710 million, up 38% YoY, and GAAP net income of $128 million. The company also raised its FY24 guidance, projecting revenue of $2.425 billion to $2.475 billion and GAAP net income of $374 million to $429 million. Nextracker's strong execution, significant revenue growth, and supply chain optimization contributed to a high-quality balance sheet with total liquidity of approximately $800 million.
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Flex (FLEX) announced strong third-quarter fiscal year 2024 results with net sales of $7.1 billion, GAAP operating income of $348 million, and adjusted operating income of $477 million. The company's CEO, Revathi Advaithi, highlighted strong execution and market positioning. Fourth-quarter guidance was provided, excluding economic interest in Nextracker, with revenue projected at $5.8 billion to $6.4 billion and GAAP EPS at $0.38 to $0.48. Fiscal year 2024 guidance was updated, with projected revenue of $27.7 billion to $28.3 billion and adjusted EPS of $2.47 to $2.57. The completion of the spin-off of remaining interest in Nextracker to Flex shareholders was also reported.
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Nextracker (NXT) will release its Q3 FY2024 financial results on January 31, 2024, followed by a conference call at 1:30 p.m. PT / 4:30 p.m. ET. The live webcast will be available on investors.nextracker.com, with a replay and supporting materials accessible on the Nextracker IR website.
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Nextracker Inc. (Nasdaq: NXT) completes spin-off from Flex Ltd., resulting in ownership separation.
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Nextracker Inc. (Nasdaq: NXT) strengthens its Board with accomplished energy sector executives Julie Blunden and Howard Wenger, while parting ways with six Flex employee Board members.
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Nextracker (NXT) Achieves 10 GW Milestone in the Middle East, Africa, and India
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Nextracker (Nasdaq: NXT) to present at 2024 Goldman Sachs Energy, CleanTech & Utilities Conference
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Nextracker (NXT) CEO Dan Shugar named Chief Trailblazer of the Year at S&P Global’s 25th Annual Platts Global Energy Awards for his leadership and contributions to solar technology innovation. Nextracker's proprietary technology has over 85-gigawatts capacity across six continents, helping plant owners produce more energy, lower operating costs, and deliver significant ROI advantages.
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Arevon Energy, Inc. announces closing $529 million financing for Vikings solar-plus-storage project, leveraging Inflation Reduction Act's tax credit transferability provisions and debt. Project features 157 MWDC of solar and 150 MW/600 MWh of battery energy storage, supplying San Diego Community Power. Key suppliers include First Solar, Nextracker, and Tesla. Commercial operations expected in Q3 2024.
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Nextracker announces Flex Ltd.'s plan to spin off its remaining interests in Nextracker Inc. to Flex shareholders, resulting in a separation from Flex's ownership. The transaction is expected to close in fiscal Q4, ending March 31, 2024.
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FAQ

What is the current stock price of Nextracker (NXT)?

The current stock price of Nextracker (NXT) is $41.96 as of November 4, 2024.

What is the market cap of Nextracker (NXT)?

The market cap of Nextracker (NXT) is approximately 6.2B.

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

6.19B
143.44M
0.43%
104.15%
8.78%
Solar
Search, Detection, Navagation, Guidance, Aeronautical Sys
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United States of America
FREMONT