Nextracker to See Continued Revenue Momentum

U.S.-based solar tracker specialist Nextracker (NASDAQ: NXT) is projected to see continued growth momentum in revenue and profitability estimates in 2024 and beyond. Nextracker specializes in making single-axis trackers, or smart structures that maximize the amount of light captured (and electricity produced) by following the sun’s movement. According to Visible Alpha consensus, Nextracker revenue is projected to jump +29% year over year in 2024, driven by a high volume of tracker and software deliveries. The solar tech company is also expected to see a healthy jump in gross margins, reaching an estimated 28% in 2024.