Generac Hldgs Inc Stock Price, News & Analysis

Sunnova Energy International Inc. (NYSE: NOVA) partnered with Generac Power Systems (NYSE: GNRC) and Empowered by Light to install a solar + battery storage system at the Hard Rock Chapter House in the Navajo Nation. The project includes an 18-kilowatt solar system with a 36kWh Generac PWRcell energy storage system, aimed at providing clean, reliable, and resilient energy for the community. This initiative not only reduces electricity costs but also enhances energy independence, allowing the Chapter House to support local services and preparedness during power outages.

Generac Grid Services, a subsidiary of Generac Power Systems (NYSE: GNRC), has successfully delivered uninterrupted automatic Frequency Restoration Reserve (aFRR) capacity to the Amprion Transmission System Operator in Germany since December 2021. This achievement has led to an expanded collaboration with German utility RWE, with plans to launch two more market products this year. The Concerto™ platform has proven effective in optimizing distributed energy resources, allowing RWE to maximize revenue and support a sustainable power grid.

Generac Grid Services and PosiGen have launched a new initiative to improve access to clean energy storage for low- to moderate-income residents in Connecticut. This groundbreaking program offers Generac's PWRcell battery and load-management systems, allowing customers to maintain power during outages and return energy to the grid during peak demand. The program aims to enhance grid stability and reduce reliance on fossil fuels. Generac plans to expand this initiative nationwide, helping underserved communities achieve energy resilience and sustainability.

ecobee has launched its latest smart thermostats, the Smart Thermostat Premium and Smart Thermostat Enhanced, featuring cutting-edge radar technology and built-in air quality monitors. With improved design, functionality, and larger displays, these devices aim to enhance home comfort, security, and health while delivering significant energy savings of up to 26% annually. Priced at $249.99 USD and $189.99 USD respectively, these thermostats are positioned as both intelligent home management tools and eco-friendly solutions. They are compatible with various smart home systems.

Generac Grid Services has launched new electric vehicle (EV) charging solutions targeting both utilities and EV owners. Using Geotab telematics technology, the offering allows EV drivers to access financial incentives while providing utilities with critical charging data. This initiative aids utility planning, rate structures, and smart-charging programs. Generac aims to support utilities at all stages of EV strategy, enhancing grid management and charging behavior. Their solutions, which are now available globally, integrate with various EV makes and models, promoting a cleaner energy future.

Generac Power Systems, Inc. has launched two new dual-fuel capable portable generators, the Powermate 4500 Watt and Powermate 7500 Watt. Designed for home and recreational use, the 4500 Watt model provides 4,500 starting watts and 3,600 running watts, while the 7500 Watt model offers 7,500 starting watts and 6,000 running watts. Both models are equipped with Generac® OHV Engines and COsense® technology for enhanced safety. These generators can be ordered online or at select retail outlets, highlighting Generac's commitment to versatile power solutions.

ecobee has been recognized as an ENERGY STAR Partner of the Year for the second consecutive year by the U.S Environmental Protection Agency. This award highlights ecobee's commitment to energy efficiency through innovative products like smart thermostats and the eco+ software platform. Since its inception, ecobee has helped save over 25 TWh of energy, equating to taking all homes in Los Angeles off the grid for a year. The company continues to subsidize access to energy-efficient products, promoting sustainability across North America.

Generac Holdings (GNRC) reported a record net sales of $1.14 billion for Q1 2022, a 41% increase from $807 million in Q1 2021. Residential product sales rose 43% to $777 million. Adjusted net income was $135 million, or $2.09 per share, down from $153 million, or $2.38 per share, last year. Despite challenges with supply chain costs and inflation, the company raised its 2022 sales growth guidance to 36-40%. Gross profit margin decreased to 31.8% compared to 39.9% last year, while operating expenses surged 55.3%. Free cash flow was $(36.8) million, a decline from $125.8 million in the prior year.

Generac Power Systems (NYSE: GNRC) is advising homeowners and businesses on the Gulf and Atlantic coasts to prepare for an above-average hurricane season in 2022, as projected by Colorado State University. The forecast predicts 19 named storms, including nine hurricanes and four major hurricanes, which could lead to widespread power outages. Generac highlights the increasing frequency of outages due to an aging electrical grid and suggests preemptive measures for homeowners, such as maintaining generators and having emergency supplies on hand. The company offers resources for hurricane preparedness.