GENERAC HOLDINGS INC - GNRC STOCK NEWS

Generac Power Systems (NYSE: GNRC) is urging people to prepare for power outages during National Preparedness Month. This comes as extreme weather events have caused over $1 billion in damage 19 times in 2024, according to NOAA. Generac CEO Aaron Jagdfeld emphasized the importance of proactive planning for safety and comfort during storms.

The company recommends several steps for preparedness:

• Identify safe locations at home and evacuation centers
• Create communication and meeting plans
• Build an emergency kit with essentials
• Review household power needs and select appropriate backup solutions

Generac offers various energy solutions, including portable generators, home standby generators, and solar energy storage systems, to meet diverse household needs during power outages.

Generac (NYSE: GNRC) has partnered with Highland Homes to offer backup power solutions as options for new home builds in Texas. This collaboration aims to enhance energy security for homeowners in Austin, Dallas/Fort Worth, Houston, and San Antonio regions. The partnership allows for the integration of Generac's generators and energy management tools from the early stages of home design and construction, making the process more streamlined and cost-effective.

Highland Homes President Aaron Graham emphasized the importance of offering enhanced energy security in response to recent electricity outages. Kyle Raabe, Executive VP of Consumer Power at Generac, highlighted the significance of collaborating with home builders to deliver backup power systems directly to consumers. This initiative aligns with Generac's mission to expand energy security across the United States.

Generac Power Systems (NYSE: GNRC) has acquired Ageto, a leading provider of microgrid controllers for the commercial & industrial (C&I) market. The acquisition, closed on August 1, 2024, strengthens Generac's microgrid and energy storage solutions. Ageto's technology seamlessly integrates and manages distributed conventional resources, renewable energy resources, and EV chargers.

Erik Wilde, EVP and president of Domestic C&I at Generac, stated that this acquisition enhances their ability to offer a complete energy technology ecosystem to domestic C&I customers with multi-asset sites. The integration of Ageto's microgrid controller and advanced software into Generac's systems simplifies asset integration, control, and optimization for customers, creating a competitive advantage for Generac.

Wallbox (NYSE: WBX), a leader in smart EV charging and energy management solutions, has secured a $45 million strategic investment. The investment is led by Generac Power Systems (NYSE: GNRC), contributing $35 million, with additional funding from existing shareholders. This move strengthens Wallbox's balance sheet and accelerates its manufacturing and sales capabilities, particularly in the North American market.

The partnership with Generac enhances Wallbox's strategy, leveraging Generac's 8,000+ authorized installers and integration capabilities. This investment marks Generac's second minority stake in Wallbox, aligning with their commercial relationship announced in December. The collaboration aims to accelerate Generac's 'Powering A Smarter World' strategy and provide deeper access to Wallbox's technology for Generac's distribution partners.

Generac Holdings Inc. (NYSE: GNRC) reported strong Q2 2024 results, with significant margin expansion driving earnings growth. Key highlights include:

- Net sales of $998 million, slightly down from $1.00 billion in Q2 2023
- Residential product sales increased 8% to $538 million
- Net income of $59 million, or $0.97 per share, up from $45 million, or $0.70 per share in Q2 2023
- Adjusted EBITDA of $165 million, or 16.5% of net sales, up from 13.6% in Q2 2023
- Full-year 2024 outlook increased: net sales growth now expected at 4-8%, adjusted EBITDA margin at 17.0-18.0%

The improved outlook is attributed to recent power outages, including Hurricane Beryl, driving increased demand for home standby and portable generators.

Generac Power Systems (NYSE: GNRC) and the Metropolitan Builders Association of Greater Milwaukee will host Dr. Robert Dietz, Chief Economist of the National Association of Home Builders, on July 31, 2024. The event will be held at 11:30 am in Generac's Kern Auditorium in Waukesha, Wisconsin. Dr. Dietz will provide insights into the housing market for the second half of 2024 and early 2025, focusing on areas such as market conditions, job growth, and labor markets.

Topics will include the NAHB economic forecast, the impact of Federal Reserve monetary policy on housing, areas with high housing demand, builder supply-side issues, inflation data, and what is being built across the country. Dr. Dietz, an economist with experience testifying before Congress, brings a wealth of knowledge to the event.

Generac's EVP of Consumer Power, Kyle Raabe, emphasized the importance of builders to their business, while Kathy Raab, Executive Director of the Metropolitan Builders Association, highlighted the value of Dr. Dietz's insights for their members. Media representatives should RSVP to Jonathan Stern.

Generac Power Systems (NYSE: GNRC) has been awarded a grant of up to $200 million over five years from the U.S. Department of Energy (DOE) as part of the $1 billion Puerto Rico Energy Resilience Fund. The grant, under the Programa Acceso Solar, will facilitate the installation of residential solar and battery storage systems for disadvantaged Puerto Rican households, starting in August 2024.

The program aims to provide clean and resilient energy in low-income areas experiencing frequent power outages and to households with energy-dependent disabled residents. Generac will collaborate with local companies, including PathStone, Interstate Renewable Energy Council, FR-BLDM, Juapi Energy, and Palmetto, to support installations, workforce development, and community outreach.

Generac Holdings Inc. (NYSE: GNRC), a leading global designer and manufacturer of energy technology solutions and power products, has announced the release date for its second quarter 2024 financial results. The company will unveil its earnings before the market opens on Wednesday, July 31, 2024. Following the release, Generac management will host a conference call at 10:00 a.m. EST to discuss the highlights of the earnings report.

Investors and interested parties can access the conference call through a registration link provided by the company. Additionally, the call will be webcast simultaneously on Generac's website under the Investor Relations section. For those unable to attend the live event, a replay of the webcast will be made available on the company's website following the call.

Generac Power Systems (NYSE: GNRC) has launched its first electric vehicle (EV) charger, a level 2 charger designed for homes and businesses. This move expands Generac's energy management portfolio and aligns with the growing U.S. EV market, projected to reach over 11% market share in 2024. The Wi-Fi and Bluetooth-enabled charger offers remote monitoring and management through the Generac EV Charging app, features five charging modes, and comes with a three-year warranty. It's up to 8X faster than a L1 charger and allows power-sharing between multiple chargers on the same circuit. The product is available through Generac certified dealers, Amazon, and other retailers nationwide.