WAUKESHA, Wis., May 13, 2024 /PRNewswire/ -- Generac Power Systems (NYSE: GNRC), a leading global designer, manufacturer and provider of energy technology solutions and other power products, today announced that Shree Dandekar, executive vice president of Corporate Engineering at Generac, will assume leadership responsibilities for Corporate Engineering and Product Management. Dandekar will report to Generac president and CEO Aaron Jagdfeld. He replaces Patrick Forsythe, Chief Technical Officer, who will be ...

Key PointsGenerac owns a 70% market share in the backup power generation industry.Generac will gain from mega-trends like the Grid 2.0, clean energy, climate change, and the home as a sanctuary.Q1 2024 gross profit margins improved to 35.6%, up from 30.7% in the year-ago period, attributed to lower input costs, favorable sales mix, and production efficiencies.5 stocks we like better than GeneracGenerac Holdings Inc. NYSE: GNRC is attempting to recover from its Q1 2024 earnings selloff. The computer and tech ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-34627 GENERAC HOLDINGS INC. (Exact name of registrant as specified in its charter) (Former name, former address and former ...

Key PointsA value stock is a share in a company considered to be underpriced based on its fundamentals that offers the potential for substantial growth.With their unique products, high profit margins, and strong returns on capital, three companies today are showing signs of becoming value plays: Generac Holdings, Southwest Airlines, and Sprouts Farmers Market.Despite various challenges, these companies maintain their investment appeal through strategic financial management and market niche exploitation.5 st ...

Generac Urges Americans to Prepare for Power Outages Early Recent Generac/Harris Poll survey provides insights into preparedness for widespread power outages* 36% of Americans have medical devices powered by electricity that they or someone in their home use daily More than half of Americans (52%) would only have enough food in their home for 1-2 days if there was a widespread power outage in their area 77% of pet owners would risk their own comfort to stay home with pets during extended power outages WAU ...

Financial Data and Key Metrics Changes - Overall net sales increased slightly to $889 million in Q1 2024 compared to $888 million in the prior year [44] - Residential product sales rose 2% to $429 million, driven by a mid-teens increase in home standby generator shipments, partially offset by a decline in portable generator shipments [19][29] - Adjusted EBITDA for the quarter was $127 million, or 14.3% of net sales, compared to $100 million, or 11.3% of net sales, in the prior year [46] - GAAP net income for Q1 2024 was $26 million, up from $12 million in Q1 2023 [22] - Free cash flow improved significantly to $85 million from negative $42 million in the same quarter last year [23] Business Line Data and Key Metrics Changes - Home standby shipments increased at a mid-teens rate, while activations declined modestly due to a softer outage environment [5][6] - Global C&I product sales decreased 2% year-over-year, primarily due to declines in domestic telecom and rental markets, but growth was seen in North American industrial distributor channels [13][29] - Residential Energy Technology Products, particularly ecobee, saw year-over-year sales growth despite a challenging retail environment [10] Market Data and Key Metrics Changes - International segment total sales decreased 14% to $187 million, primarily due to declines in intercompany shipments and lower shipments in certain European markets [21][40] - Strong growth in shipments to Latin American markets partially offset softness in other regions [16] Company Strategy and Development Direction - The company is focused on expanding its network of installers and enhancing operational efficiencies to drive future growth [8][33] - Investments are being made in energy technology solutions, including collaborations with Wallbox for EV charging solutions [12][36] - The company aims to leverage its position in natural gas generators to capture growth in energy storage markets [15] Management's Comments on Operating Environment and Future Outlook - Management reiterated the overall 2024 outlook for net sales and adjusted EBITDA margin, expecting a mid to high single-digit decline in C&I product sales compared to prior guidance of a 10% decline [24][25] - The company anticipates a significant year-over-year increase in home standby generator shipments as field inventory normalizes [50] - Management expressed confidence in the long-term growth potential driven by increasing demand for backup power due to rising power consumption forecasts and aging infrastructure [42][63] Other Important Information - The gross margin for Q1 2024 improved to 35.6% from 30.7% in the prior year, attributed to a favorable sales mix and improved production efficiencies [20] - The company expects capital expenditures to be approximately 3% of forecasted net sales for the year [56] Q&A Session Summary Question: Can you reconcile the increase in shipments with the decline in activations for home standby? - Management explained that activations were slower due to a weaker outage environment, but shipments increased as field inventory challenges were resolved [82][84] Question: What is the strategy regarding the surge in data center power demand? - Management noted that while the backup generator market for data centers is dominated by diesel, there is growing interest in natural gas solutions due to permitting challenges for diesel engines [88][90] Question: Can you provide insights on gross margin improvements? - Management highlighted that gross margins exceeded expectations due to earlier-than-anticipated improvements in input costs and operational efficiencies [121][122] Question: What is the outlook for energy technology revenue? - Management indicated that while near-term market dynamics are challenging, they remain optimistic about capturing incremental revenue as they launch new products later this year [115][117]

Generac Holdings (GNRC) reported $889.27 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 0.2%. EPS of $0.88 for the same period compares to $0.63 a year ago.The reported revenue represents a surprise of +0.43% over the Zacks Consensus Estimate of $885.51 million. With the consensus EPS estimate being $0.72, the EPS surprise was +22.22%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wal ...

Generac Holdings Inc (GNRC) reported first-quarter 2024 adjusted earnings per share (EPS) of 88 cents, which beat the Zacks Consensus Estimate of 72 cents. GNRC reported adjusted EPS of 63 cents in the prior-year period.Net sales came in at $889.3 million compared with $887.9 million in the prior-year quarter. The figure also topped the consensus estimate of $885.5 million. An increase in Residential product sales cushioned the top-line performance.  In the quarter under review, core sales growth (excluding ...

Generac Holdings (GNRC) came out with quarterly earnings of $0.88 per share, beating the Zacks Consensus Estimate of $0.72 per share. This compares to earnings of $0.63 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 22.22%. A quarter ago, it was expected that this generator maker would post earnings of $2.10 per share when it actually produced earnings of $2.07, delivering a surprise of -1.43%.Over the last four quarters, the ...

Exhibit 99.1 Generac Reports First Quarter 2024 Results WAUKESHA, WISCONSIN (May 1, 2024) – Generac Holdings Inc. (NYSE: GNRC) ("Generac" or the "Company"), a leading global designer and manufacturer of energy technology solutions and other power products, today reported financial results for its first quarter ended March 31, 2024 and provided an update on its outlook for the full-year 2024. First Quarter 2024 Highlights "First quarter results exceeded our expectations due to strong operating margins and ex ...