Latest news with #Nextracker
Yahoo
5 days ago
- Business
- Yahoo
NXT Q1 Earnings Call: Missed Revenue Expectations, Expanding Product Portfolio, and Margin Outlook
Solar tracker company Nextracker (NASDAQ:NXT) fell short of the market's revenue expectations in Q1 CY2025, but sales rose 25.5% year on year to $924.3 million. Its non-GAAP EPS of $1.29 per share was 32% above analysts' consensus estimates. Is now the time to buy NXT? Find out in our full research report (it's free). Revenue: $924.3 million (25.5% year-on-year growth) Adjusted EPS: $1.29 vs analyst estimates of $0.98 (32% beat) Adjusted Operating Income: $162.8 million vs analyst estimates of $175 million (17.6% margin, 7% miss) Adjusted EPS guidance for the upcoming financial year 2026 is $3.84 at the midpoint, missing analyst estimates by 1.5% EBITDA guidance for the upcoming financial year 2026 is $737.5 million at the midpoint, below analyst estimates of $762.6 million Adjusted EBITDA Margin: 18.1% Backlog: $4.92 billion at quarter end, up 23% year on year Market Capitalization: $8.48 billion Nextracker's first quarter results were shaped by continued demand for utility-scale solar trackers and expanded international activity, which management said drove a sequential increase in backlog and bookings. CEO Dan Shugar emphasized the company's efforts to strengthen its market leadership, highlighting recent wins in regions such as Europe, Latin America, and Australia. President Howard Wenger pointed to the successful uptake of new products like the Hail Pro series and strong customer demand for fully domestic content in the U.S., supported by a flexible supply chain. Management also noted stable pricing and project execution, with the backlog providing enhanced visibility into near-term revenue streams. Looking ahead, Nextracker's guidance reflects increased investment in research and development, expansion into adjacent technologies, and ongoing policy uncertainty in the U.S. solar market. CEO Dan Shugar described a strategic move toward becoming a broader solar technology platform provider, with recent acquisitions such as Bentek Corporation expected to contribute to future growth. CFO Chuck Boynton cautioned that higher operating expenses and capital expenditures would impact margins, stating, 'We're leaning in on growth and investing in OpEx and CapEx to drive multi-year expansion.' Management acknowledged risks related to evolving U.S. policy, tariffs, and global project mix but pointed to a strong contracted backlog as a buffer for the coming year. Management attributed Q1 performance to a combination of robust international sales, the steady ramp of new product offerings, and the expansion of its order backlog. The quarter also saw the company continue its shift towards a comprehensive solar technology platform. International expansion momentum: Management highlighted that contracts were signed in 17 different countries during the quarter, including growth in less-discussed markets such as Saudi Arabia, Greece, Peru, Chile, and Bulgaria. Europe, especially Spain, saw record deliveries, attributed to the success of the XTR terrain-following tracker tailored for regional conditions. Domestic content demand: In the U.S., Nextracker observed rising demand for tracker systems with 100% domestic content, a trend tied to policy incentives and customer requirements. The company's flexible supply chain, with 90 manufacturing sites across 19 countries, allowed it to meet these needs and secure long-term customer relationships. New product adoption: The Hail Pro series and TrueCapture yield management platform gained strong traction, with over nine gigawatts of Hail Pro trackers sold and significant sales of the XTR series. These products address insurance and system performance requirements, which management claims are increasingly important for customers. Order backlog growth: The order backlog increased sequentially, with management reporting 'record bookings and backlog' and continued book-to-bill ratios above one. This backlog, encompassing both domestic and international projects, was described as providing visibility and reducing revenue uncertainty. Strategic acquisitions: The acquisition of Bentek Corporation and two specialty foundation companies marked a shift toward a solar power technology platform. Management stated that integrating tracker and electrical balance-of-system (eBOS) offerings would simplify procurement for customers and create new revenue streams beyond the traditional tracker business. Nextracker's outlook is shaped by ongoing investments in product development, expansion into new business lines, and uncertainties related to policy and market conditions. Platform expansion strategy: Management is prioritizing investment in adjacent technologies, such as electrical balance-of-system solutions, with the expectation that these new offerings will drive a significant portion of future revenue. CEO Dan Shugar stated that in five years, one-third of revenue could come from non-tracker sources. Margin headwinds from investment: CFO Chuck Boynton outlined that higher operating and capital expenditures—particularly to scale recent acquisitions and develop new products—will weigh on EBITDA margins in the near term. The company expects structural gross margins to remain in the low-30% range, but operating margins will be influenced by both investments and geographic revenue mix. Policy and market risks: Management identified evolving U.S. policy, including tax credit provisions and tariffs, as risk factors for future results. They noted that much of the coming year's business is already contracted, which limits near-term downside but leaves future periods exposed to potential regulatory shifts. In the coming quarters, the StockStory team will monitor (1) the pace of integration and revenue contribution from recent acquisitions such as Bentek, (2) signs of sustained demand for new product offerings like TrueCapture and Hail Pro, and (3) regulatory developments affecting domestic content requirements and tax credit incentives in the U.S. The durability of margins amid international expansion and investment will also be closely tracked. Nextracker currently trades at a forward P/E ratio of 14.9×. Is the company at an inflection point that warrants a buy or sell? See for yourself in our full research report (it's free). Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
United News of India
28-05-2025
- Business
- United News of India
Nextracker achieves 10 GW Solar Tracker milestone in India
Hyderabad, May 28 (UNI) Nextracker, a global leader in advanced solar energy solutions, on Wednesday announced that it has surpassed 10 gigawatts (GW) of solar tracker deployments in India—a major milestone reinforcing its market leadership and the country's accelerating solar adoption. Nextracker is expanding its footprint with a new 80,000 sq. ft. office and research and development (R&D) facility in Hyderabad, reinforcing its long-term commitment serving customers throughout the region and India's clean energy future, the company said in a release here.. With 1.8 GW of projects added in the last quarter alone, Nextracker's India portfolio now totals over 10 GW, underscoring strong momentum in solar adoption. Recent project wins include a 305 MW project with ReNew in Anantapur (Andhra Pradesh), along with 1.5 GW of projects through partnerships with key EPCs (engineering, procurement, and construction companies) across the country—highlighting Nextracker's expanding presence in India's high-growth solar regions. Speaking on the partnership with Nextracker for the Anantapur project, Sanjay Varghese, Group President – Solar Projects & Manufacturing, ReNew, said, 'As we continue to expand our footprint in renewable energy, such collaborations help in driving project efficiency and contributing to the sector's broader goals.' To further strengthen its presence in the world's third-largest solar power market, Nextracker inaugurated its largest office outside the United States. The new Hyderabad hub integrates R&D, testing, and workforce development under one roof, featuring a 13-acre Center for Solar Excellence (CFSE) cutting-edge R&D and testing laboratory. Supported by a USD $1 million investment, the CFSE is dedicated to advancing local solar technology and training in India.. Building on its existing workforce of over 400 employees in India, Nextracker is accelerating its hiring efforts across engineering, manufacturing, and customer support. The Hyderabad facility will also focus on skill development initiatives to nurture local expertise in advanced solar technology and project execution. Under the 'Make in India' initiative, 95 percent of Nextracker's tracker components used in India are manufactured domestically. This localization supports supply chain resilience, energy security, and technology localization, enabling Indian solar developers to access industry-leading, climate-resilient solutions tailored to the country's unique energy landscape and conditions. Rajeev Kashyap, Senior Vice President and Managing Director, Nextracker (Middle East, Africa, and India) said, 'With 10 GW of projects commissioned or under delivery, we are equipping developers with best-in-class technology optimized for the country's diverse needs, while investing in local talent, infrastructure, and innovation to meet the country's renewable energy goals.' 'Nextracker's investment in advanced manufacturing is not only a significant milestone for the company, but also an important moment for India's broader renewable energy ecosystem,' said Subrahmanyam Pulipaka, CEO, National Solar Energy Federation of India (NSEFI). 'At NSEFI, we believe India's next phase of solar growth will be driven by innovation, resilience, and self-reliance,' Pulipaka added. UNI KNR GNK
Yahoo
27-05-2025
- Business
- Yahoo
Nextracker Expands in India After Surpassing 10 GW Milestone
On May 27, Nextracker Inc. (NASDAQ:NXT) announced it has surpassed 10 gigawatts (GW) of solar tracker deployments in India, marking a major milestone in the country's accelerating clean energy adoption. A technician installing a communication device in a large solar energy system. To support its growth, Nextracker is expanding its footprint with a new 80,000 sq. ft. office and R&D facility in Hyderabad, reinforcing its commitment to India's renewable energy sector. In the last quarter alone, 1.8 GW of new projects were added, including a 305 MW collaboration with ReNew in Anantapur and 1.5 GW of projects through partnerships with EPC firms. The company's 13-acre Center for Solar Excellence (CFSE) will drive local solar technology advancements, backed by a $1 million investment in research and skill development. Aligned with India's 'Make in India' initiative, 95% of Nextracker's tracker components are manufactured domestically, strengthening supply chain resilience and energy security. Rajeev Kashyap, Senior VP & Managing Director of Nextracker, emphasized the company's long-term investment in India, stating, "With 10 GW of projects commissioned or under delivery, we are equipping developers with best-in-class solar technology while investing in local talent and innovation." The expansion highlights India's growing solar market, with Nextracker leading efforts to advance sustainable energy solutions across the country. Nextracker is a provider of advanced solar tracking technology, helping power plants worldwide maximize efficiency by following the sun's movement. Operating in over 40 countries, Nextracker delivers innovative solutions that enhance solar energy production, streamline construction, and improve long-term reliability. While we acknowledge the potential of Nextracker Inc. (NASDAQ:NXT) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NXT and that has 100x upside potential, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. Sign in to access your portfolio
Yahoo
27-05-2025
- Business
- Yahoo
Nextracker Expands in India After Surpassing 10 GW Milestone
On May 27, Nextracker Inc. (NASDAQ:NXT) announced it has surpassed 10 gigawatts (GW) of solar tracker deployments in India, marking a major milestone in the country's accelerating clean energy adoption. A technician installing a communication device in a large solar energy system. To support its growth, Nextracker is expanding its footprint with a new 80,000 sq. ft. office and R&D facility in Hyderabad, reinforcing its commitment to India's renewable energy sector. In the last quarter alone, 1.8 GW of new projects were added, including a 305 MW collaboration with ReNew in Anantapur and 1.5 GW of projects through partnerships with EPC firms. The company's 13-acre Center for Solar Excellence (CFSE) will drive local solar technology advancements, backed by a $1 million investment in research and skill development. Aligned with India's 'Make in India' initiative, 95% of Nextracker's tracker components are manufactured domestically, strengthening supply chain resilience and energy security. Rajeev Kashyap, Senior VP & Managing Director of Nextracker, emphasized the company's long-term investment in India, stating, "With 10 GW of projects commissioned or under delivery, we are equipping developers with best-in-class solar technology while investing in local talent and innovation." The expansion highlights India's growing solar market, with Nextracker leading efforts to advance sustainable energy solutions across the country. Nextracker is a provider of advanced solar tracking technology, helping power plants worldwide maximize efficiency by following the sun's movement. Operating in over 40 countries, Nextracker delivers innovative solutions that enhance solar energy production, streamline construction, and improve long-term reliability. While we acknowledge the potential of Nextracker Inc. (NASDAQ:NXT) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NXT and that has 100x upside potential, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
27-05-2025
- Business
- Time of India
Nextracker crosses 10 GW solar tracker deployment milestone in India; opens new R&D facility in Hyderabad
New Delhi: Nextracker has crossed 10 gigawatts (GW) of solar tracker deployments in India and announced the opening of a new 80,000 sq. ft. office and R&D facility in Hyderabad to support its expanding operations in the country. According to the company, 1.8 GW of solar tracker projects were added in the last quarter alone, taking its cumulative deployments in India to more than 10 GW. Recent project wins include a 305 MW installation with ReNew in Anantapur and 1.5 GW of projects secured through partnerships with various engineering, procurement, and construction (EPC) companies. Rajeev Kashyap, Senior Vice President and Managing Director, Nextracker (Middle East, Africa, and India), said, 'This region is one of the world's fastest-growing solar markets, and our Hyderabad expansion reflects our deep commitment to supporting that growth. With 10 GW of projects commissioned or under delivery, we are equipping developers with best-in-class technology optimized for the country's diverse needs, while investing in local talent, infrastructure, and innovation to meet the country's renewable energy goals.' The new Hyderabad facility is Nextracker's largest office outside the United States. It houses a 13-acre Center for Solar Excellence (CFSE), including a testing and R&D lab, backed by a USD 1 million investment. The company plans to expand its workforce beyond its current 400 employees to support ongoing projects and skill development initiatives in advanced solar technologies. Nextracker said 95 per cent of tracker components used in its Indian projects are locally manufactured under the ' Make in India ' initiative. Sanjay Varghese, Group President – Solar Projects & Manufacturing, ReNew, said, 'We welcome Nextracker as a partner in supporting our solar projects. As we continue to expand our footprint in renewable energy, such collaborations help in driving project efficiency and contributing to the sector's broader goals.' Subrahmanyam Pulipaka, CEO, National Solar Energy Federation of India (NSEFI), said, 'This kind of technology-driven, future-forward collaboration exemplifies what we need to achieve our national clean energy goals . By localizing the production of intelligent solar tracking systems and integrating advanced automation with domestic expertise, Nextracker is making a meaningful contribution to India's Atma Nirbhar Bharat vision in the renewable energy sector.' He added, 'At NSEFI, we believe India's next phase of solar growth will be driven by innovation, resilience, and self-reliance. Partnerships like Nextracker's—linking global technology with domestic manufacturing—are key to scaling our energy transition while ensuring quality and sustainability.' Nextracker's expansion includes increased hiring across engineering, manufacturing, and customer service functions, with the new facility serving as a hub for product development and local innovation.
