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Generac Holdings Inc (GNRC) recently announced the acquisition of Ageto. The buyout, which was officially settled on Aug 1, 2024, is likely to boost Generac's position in the commercial & industrial (C&I) market. Ageto is known for its cutting-edge microgrid controllers, which are specifically engineered to optimize the performance of various energy resources, including renewable energy sources and electric vehicle chargers. These controllers empower users to coordinate, optimize and supervise all microgrid ...

Generac Today GNRC Generac $145.50 -10.18 (-6.54%) 52-Week Range $79.86 ▼ $169.57 P/E Ratio 40.08 Price Target $153.52 Add to Watchlist Generac Holdings Inc. NYSE: GNRC delivered a solid second-quarter earnings report that included raising its full-year outlook for revenue and earnings. But this looks like a sell-the-news event. GNRC had climbed to a 52-week high before the earnings report, but the results don't seem to be enough to move the needle. The headline numbers were mixed. Revenue of $998.2 million ...

As of Jun 30, 2024, GNRC had $218.3 million of cash and cash equivalents, with nearly $1.445 billion of longterm borrowings and finance lease obligations. In the reported quarter, the company repurchased shares worth $51 million. GNRC had shares worth $449 left under its buyback authorization as of Jun 30, 2024. In February 2024, GNRC approved a new share buyback authorization that allows for a repurchase of up to $500 million in the next 24 months. It replaced the remaining balance on the earlier program. ...

Generac Holdings (GNRC) came out with quarterly earnings of $1.35 per share, beating the Zacks Consensus Estimate of $1.24 per share. This compares to earnings of $1.08 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 8.87%. A quarter ago, it was expected that this generator maker would post earnings of $0.72 per share when it actually produced earnings of $0.88, delivering a surprise of 22.22%. Generac Holdings, which belongs ...

International Segment International segment total sales (including inter-segment sales) decreased 18% to $184.5 million as compared to $223.7 million in the prior year quarter, including a slight benefit from foreign currency. The core total sales decline for the segment was primarily driven by lower inter-segment sales related to softness in the telecom market and weaker shipments in Europe, most notably for portable generators. Adjusted EBITDA for the segment, before deducting for noncontrolling interests ...

Core Insights - Generac Holdings Inc. reported net sales of $998 million for Q2 2024, a slight decrease from $1 billion in Q2 2023, with core sales remaining approximately flat year-over-year [26][25] - The company experienced an increase in residential product sales by approximately 8% to $538 million, while commercial and industrial product sales decreased by about 10% to $344 million [26] - Adjusted net income attributable to the company was $82 million, or $1.35 per share, compared to $68 million, or $1.08 per share in the same period last year [26] - The adjusted EBITDA margin improved to 16.5% of net sales, up from 13.6% in the prior year, driven by a favorable sales mix and lower input costs [26][27] Financial Performance - Operating expenses increased by $29.9 million, or 12.3%, compared to Q2 2023, primarily due to higher employee costs and increased marketing expenditures [6] - Cash flow from operations was $77.7 million, down from $83.1 million in the prior year, while free cash flow was $49.7 million compared to $53.9 million in Q2 2023 [7] - The gross profit margin improved to 37.6% from 32.8% in the prior year, attributed to a favorable sales mix and lower input costs [27] Segment Performance - Domestic segment total sales increased by 1% to $827.1 million, supported by higher home standby and portable generator shipments [29] - The international segment saw total sales decrease by 18% to $184.5 million, primarily due to lower inter-segment sales and weaker shipments in Europe [9] - Adjusted EBITDA for the domestic segment was $139.7 million, or 16.9% of total sales, compared to $103.2 million, or 12.7% of total sales in the prior year [8] Outlook - The company updated its full-year 2024 net sales growth guidance to 4% to 8%, an increase from the previous range of 3% to 7% [31] - Adjusted EBITDA margin expectations were also raised to approximately 17.0% to 18.0%, up from the previous guidance of 16.5% to 17.5% [10] - The company anticipates strong operating and free cash flow generation for the full year, with free cash flow conversion from adjusted net income expected to be well above 100% [32]

Core Insights - Generac Holdings Inc. reported a net sales of $998 million for Q2 2024, a slight decrease from $1.00 billion in Q2 2023, with core sales remaining approximately flat year-over-year [3][11] - The company experienced a net income of $59 million, or $0.97 per share, compared to $45 million, or $0.70 per share, in the same period last year [3][10] - Adjusted EBITDA for the quarter was $165 million, representing 16.5% of net sales, an increase from $137 million, or 13.6% of net sales, in the prior year [3][39] - The company updated its full-year 2024 net sales growth guidance to 4-8%, up from the previous range of 3-7% [18][12] Financial Performance - Residential product sales increased by approximately 8% to $538 million, while Commercial & Industrial (C&I) product sales decreased by about 10% to $344 million [3][38] - Gross profit margin improved to 37.6% from 32.8% in the prior year, driven by a favorable sales mix and lower input costs [4][3] - Operating expenses rose by $29.9 million, or 12.3%, primarily due to increased employee costs and higher marketing expenditures [4][6] Cash Flow and Share Repurchase - Cash flow from operations was $78 million, down from $83 million in the prior year, while free cash flow was $50 million compared to $54 million in Q2 2023 [3][6] - The company repurchased 355,640 shares for approximately $51 million during the quarter, with $449 million remaining under the current repurchase program [3][6] Segment Performance - Domestic segment total sales increased by 1% to $827.1 million, while international segment sales decreased by 18% to $184.5 million [11][16] - Adjusted EBITDA for the domestic segment was $139.7 million, or 16.9% of domestic sales, compared to $103.2 million, or 12.7% of total sales, in the prior year [1][39] - The international segment's adjusted EBITDA declined to $25 million, or 13.6% of total sales, from $33.3 million, or 14.9% of total sales, in the prior year [17][39] Strategic Initiatives - The company finalized a grant from the U.S. Department of Energy for up to $200 million for residential clean energy projects as part of the $1 billion Puerto Rico Energy Resilience Fund [3][12] - Generac plans to increase its minority interest in Wallbox with an additional $35 million investment to expand its commercial relationship [3][12] - The company highlighted the potential for increased demand for home standby generators following Hurricane Beryl, which caused significant power outages [8][3]

The market expects Generac Holdings (GNRC) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on July 31, 2024, might help the stock move higher if these key numbers a ...

Core Insights - Generac Power Systems has been awarded a grant of up to $200 million from the U.S. Department of Energy as part of the $1 billion Puerto Rico Energy Resilience Fund to install residential solar and battery storage systems for disadvantaged households in Puerto Rico [1][6] - The installations are set to begin in August 2024, aiming to improve energy resilience for vulnerable communities that experience frequent power outages [1][6] - The initiative will also support local workforce development and job creation in Puerto Rico, enhancing the local economy [3][8] Company Overview - Generac Power Systems is a leading global designer and manufacturer of energy technology solutions, providing backup and prime power products, energy storage systems, and energy management services [4] - The company has a long history of providing reliable backup power solutions in Puerto Rico, particularly after Hurricane Maria [2] Program Details - The Programa Acceso Solar will focus on installing solar and battery systems in low-income areas and households with energy-dependent disabilities [6][7] - Local companies, including PathStone and the Interstate Renewable Energy Council, will assist in community outreach and workforce development [7] - Generac will collaborate with local contractors and businesses to ensure high-quality installations and support for residents [8]