Nextracker Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
January 31, 2024 at 04:22 pm EST
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Nextracker Inc. reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was USD 710.43 million compared to USD 513.37 million a year ago. Net income was USD 41.4 million compared to USD 42.59 million a year ago. Basic earnings per share from continuing operations was USD 0.67. Diluted earnings per share from continuing operations was USD 0.87.
For the nine months, sales was USD 1,763.33 million compared to USD 1,383.74 million a year ago. Net income was USD 101.08 million compared to USD 93.8 million a year ago. Basic earnings per share from continuing operations was USD 1.78. Diluted earnings per share from continuing operations was USD 1.86.
Nextracker Inc. is a provider of integrated solar tracker and software solutions used in utility-scale and ground-mounted distributed generation solar projects. Its products enable solar panels in utility-scale power plants to follow the sunâs movement across the sky and optimize plant performance. Its products include NX Horizon, NX Gemini, TrueCapture, and NX Navigator. Its solutions include Bifacial PV modules, Large Format Modules, and First Solar Series 6 (FSLR6) Modules. NX Horizon is a one-in-portrait (1P) smart solar tracker system that delivers the lowest levelized cost of energy (LCOE). NX Gemini is its two-in-portrait (2P) format tracker which holds two rows of solar panels along the central support beam. TrueCapture is its flagship software offering, which is a self-adjusting tracker control system that uses machine learning to enhance solar power plant energy yield. It has operations in the United States, Brazil, Mexico, Spain, India, Australia, the Middle East and Brazil.