New products offer smarter, more powerful and resilient solutions to enable more choice and control in the way people use sustainable energy sources WAUKESHA, Wis., Sept. 10, 2024 /PRNewswire/ -- Generac Holdings (NYSE: GNRC), a leading global designer, manufacturer and provider of energy technology solutions and other power products, today announced the launch of its new PWRcell 2 Home Energy Storage System product series, featuring PWRcell 2 and PWRcell 2 MAX. These products give homeowners more power, re ...

Core Viewpoint - The increasing frequency and severity of extreme weather events necessitate proactive power outage planning for households, as highlighted by Generac Power Systems during National Preparedness Month [1][3]. Group 1: Industry Context - In 2024, extreme weather events have caused over one billion dollars in damage on 19 occasions, including severe storms, a tropical cyclone, a wildfire, and winter storms [2]. - The damage from severe weather not only affects property but also critical power infrastructure, leading to significant electricity access issues for households [2]. Group 2: Company Initiatives - Generac emphasizes the importance of planning ahead for power outages, encouraging households to assess their power needs and identify suitable backup power solutions [3][5]. - The company provides a range of energy solutions, including portable generators, home standby generators, and solar energy storage systems, to meet diverse household needs [5][6]. - Generac's annual Hurricane Preparedness Guide offers a comprehensive list of emergency kit essentials to help families prepare for severe weather events [4]. Group 3: Preparedness Recommendations - Households are advised to identify safe locations to wait out storms, review evacuation plans, and know the nearest evacuation centers [3][4]. - A communication plan should be established, including designated meeting locations and local area maps for emergencies [4]. - Building an emergency kit with essentials such as food, water, first aid supplies, and items for pets is crucial for preparedness [4].

Generac Holdings Inc. (GNRC) stock has surged 35.2% in the past six months compared with the S&P 500's growth of 10.6%, respectively. Z SI254M: 39.49 GNRC: 35.2% CMI: 15.05 ENPH: 0.9% AYI: -0.7% 8/24 - ENPHASE ENE Image Source: Zacks Investment Reso However, it has underperformed the sub-industry's rally of 39.4% in the past six months. While peers like Enphase (ENPH) and Cummins (CMI) have gained 0.9% and 15%, Acuity Brands' (AYI) shares have dropped 0.7% in the past six months. GNRC is currently trading a ...

Core Insights - Generac is partnering with Highland Homes to integrate backup power solutions into new home builds in Texas, enhancing energy security for homeowners [1][2][3] Company Overview - Generac Power Systems is a leading energy technology company that provides backup and prime power products, energy storage systems, and energy management devices [6] Partnership Details - Home buyers in major Texas cities can opt for Generac generators when building homes with Highland Homes, addressing the need for reliable power amid recent outages [2][3] - The partnership aims to streamline the integration of Generac's backup power systems into the home design and construction process, making it more cost-effective and efficient [4] Market Positioning - Generac emphasizes the importance of energy security for homeowners and believes that its collaboration with builders like Highland Homes will enhance the reliability of power solutions in the market [3][4]

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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 ...

Core Viewpoint - Generac Holdings Inc (GNRC) reported its second-quarter 2024 results, showing a mixed performance with adjusted earnings per share (EPS) beating estimates, but net sales declining year-over-year due to weak Commercial & Industrial (C&I) product sales offsetting gains in Residential product sales [10][12]. Financial Performance - GNRC reported adjusted EPS of $1.35, exceeding the Zacks Consensus Estimate of $1.24, and up from $1.08 in the prior-year period [10]. - Net sales were $998 million, a decrease from $1 billion in the same quarter last year, missing the consensus estimate by 0.5% [10]. - Domestic revenues increased by 1% year-over-year to $827.1 million, driven by higher shipments of home standby and portable generators [13]. - International revenues fell 18% year-over-year to $184.5 million, although favorable foreign currency movements provided a slight positive impact [17]. Guidance and Expectations - GNRC updated its 2024 revenue growth expectations to 4-8%, up from the previous guidance of 3-7% [12]. - The net income margin is now anticipated to be between 6.5% and 7.5%, an increase from the earlier range of 6-7% [12]. Operational Insights - Total operating expenses rose by 12.3% year-over-year to $272.3 million, attributed to higher employee costs and marketing spending [14]. - Gross profit was $375.6 million, up from $328.4 million in the prior-year quarter, with gross profit margins improving to 37.6% from 32.8% [20]. Strategic Developments - GNRC repurchased shares worth $51 million in the reported quarter, with $449 million remaining under its buyback authorization as of June 30, 2024 [1]. - The company approved a new share buyback authorization of up to $500 million for the next 24 months, replacing the previous program [1]. - GNRC has agreed to increase its minority interest in Wallbox with an additional $35 million investment to further develop its commercial relationship [15].

分组1 - Generac Holdings reported quarterly earnings of $1.35 per share, exceeding the Zacks Consensus Estimate of $1.24 per share, and up from $1.08 per share a year ago, representing an earnings surprise of 8.87% [1] - The company posted revenues of $998.2 million for the quarter ended June 2024, slightly missing the Zacks Consensus Estimate by 0.46%, and down from $1 billion in the same quarter last year [2] - Generac Holdings shares have increased approximately 20.4% since the beginning of the year, outperforming the S&P 500's gain of 14% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $1.91 on revenues of $1.13 billion, and for the current fiscal year, it is $6.16 on revenues of $4.19 billion [5] - The estimate revisions trend for Generac Holdings is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [11] - The Electronics - Power Generation industry, to which Generac belongs, is currently ranked in the top 21% of over 250 Zacks industries, suggesting a positive outlook for the sector [12]

Financial Performance - International segment total sales decreased 18% to $184.5 million compared to $223.7 million in the prior year quarter[1]. - Adjusted EBITDA for the international segment was $25.0 million, or 13.6% of total sales, down from $33.3 million, or 14.9% in the prior year[2]. - Net sales for the second quarter of 2024 were $998 million, slightly down from $1.00 billion in the prior-year second quarter[21]. - Adjusted EBITDA for the second quarter was $165 million, or 16.5% of net sales, compared to $137 million, or 13.6% in the prior year[23]. - Generac reported total net sales of $998.2 million for the three months ended June 30, 2024, compared to $1,000.4 million for the same period in 2023, reflecting a slight decrease of 0.2%[68]. - Adjusted EBITDA for the three months ended June 30, 2024, was $164.7 million, up from $136.5 million in the same period last year, representing an increase of 20.6%[68]. - The company reported a total adjusted EBITDA of $291.9 million for the six months ended June 30, 2024, compared to $236.6 million for the same period in 2023, reflecting a growth of 23.4%[68]. Sales Breakdown - Residential product sales increased approximately 8% to $538 million, while C&I product sales decreased approximately 10% to $344 million[22]. - Residential products sales reached $538.4 million for the three months ended June 30, 2024, compared to $498.6 million in the same period last year, indicating a growth of 8%[68]. - The company experienced a decrease in commercial and industrial products sales, reporting $344.2 million for the three months ended June 30, 2024, down from $384.4 million in the same period last year, a decline of 10.5%[68]. Guidance and Expectations - The company updated its full-year 2024 net sales guidance to 4 to 8% growth, up from the previous expectation of 3 to 7%[3]. - Net income margin for full-year 2024 is now expected to be approximately 6.5 to 7.5%, an increase from the prior expectation of 6.0 to 7.0%[4]. Cash Flow and Investments - Free cash flow for the six months ended June 30, 2024, was $189.6 million, significantly higher than $64.6 million for the same period in 2023[66]. - Free cash flow for the three months ended June 30, 2024, was $49,712, compared to $53,901 for the same period in 2023[73]. - Generac's net cash used in investing activities for the six months ended June 30, 2024, was $74.0 million, slightly lower than $75.4 million for the same period in 2023[66]. - Net cash provided by operating activities for the six months ended June 30, 2024, was $189,562, significantly higher than $64,588 for the same period in 2023[73]. Balance Sheet Highlights - Cash and cash equivalents increased to $218,317,000 as of June 30, 2024, up from $200,994,000 at December 31, 2023[44]. - Total assets as of June 30, 2024, were $5,118,566,000, compared to $5,093,312,000 at December 31, 2023[44]. - Total liabilities increased slightly to $2,746,047,000 as of June 30, 2024, from $2,743,693,000 at December 31, 2023[44]. - The company’s retained earnings rose to $2,601,974,000 as of June 30, 2024, compared to $2,519,313,000 at December 31, 2023[44]. - The company reported an increase in accounts receivable to $610,322,000 as of June 30, 2024, from $537,316,000 at December 31, 2023[44]. - Generac's total current liabilities were $912,557,000 as of June 30, 2024, compared to $880,771,000 at December 31, 2023[44]. Shareholder Returns - The company repurchased 355,640 shares for approximately $51 million, with $449 million remaining under the current repurchase program[7]. - Net income attributable to common shareholders for the six months ended June 30, 2024, was $85.5 million, compared to $59.7 million for the same period in 2023, marking an increase of 43.3%[66]. - Net income attributable to Generac Holdings Inc. for the three months ended June 30, 2024, was $59,115, an increase of 31% compared to $45,198 for the same period in 2023[73]. - Adjusted net income for the six months ended June 30, 2024, was $134,825, up 23% from $109,151 for the same period in 2023[73]. Strategic Initiatives - The company finalized a grant from the U.S. Department of Energy for up to $200 million in funding for residential clean energy projects[9]. - The company continues to focus on expanding its energy technology offerings to lead the evolution towards more resilient and sustainable energy solutions[35].