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]

Company Overview - Generac Holdings Inc. is a leading global designer and manufacturer of energy technology solutions and power products [1][7] - The company provides backup and prime power products, energy storage systems, energy monitoring and management devices, and other engine and battery-powered tools [7] Upcoming Financial Results - Generac plans to release its second quarter 2024 financial results before the market opens on July 31, 2024 [1] - A conference call will be held at 10:00 a.m. EST on the same day to discuss the highlights of the earnings release [1] Conference Call Details - The conference call will be webcast simultaneously on Generac's website under the Investor Relations link [2] - A replay of the webcast will be available on the company's website following the live event [6] - Access to the conference call can be obtained through a specific registration link, with dial-in information provided for those wishing to listen via telephone [5]

The conference call can be accessed at the following link: https://register.vevent.com/register/BIda289d036c8c4968881c6413359be673. Individuals that wish to listen via telephone will be given dial-in information. Generac is a leading energy technology company that provides backup and prime power products and energy storage systems for home and commercial & industrial applications, energy monitoring & management devices and services, and other engine & battery powered tools and equipment. Founded in 1959, Ge ...

Generac Holdings Inc. (GNRC) is strengthening its energy management solutions portfolio by launching its first electric vehicle (EV) charger, a level 2 charger designed for homes and businesses, demonstrating its commitment to innovation and sustainable energy solutions. Generac's L2 EV charger includes five distinct charging modes to cater to various charging needs and preferences. Furthermore, with Power Boost Technology, the charger can efficiently redirect maximum power to the vehicle without causing an ...

WAUKESHA, Wis., July 15, 2024 /PRNewswire/ -- Generac Power Systems Inc. (NYSE: GNRC), a leading global designer, manufacturer and provider of energy technology solutions and other power products, today announced the availability of its first electric vehicle (EV) charger. This state-of-the-art level 2 charger represents another notable solution in Generac's portfolio to help people with energy management, and underscores Generac's commitment to lead the evolution to more resilient, efficient, and sustainab ...

One of the best ways to multiply your wealth every summer is by picking up some of the top hurricane stocks to buy. Unfortunately, we could see many more this season. Generac Holdings (GNRC) As noted by GeneratorSource.com, "The high winds can take down power poles and cause damage to power plants. It can take weeks and, in many cases, months before power company personnel are able to fully restore power. This is why the demand for backup power generators has become so high." Xylem (XYL) After all, accordin ...