Generac Hldgs Inc Stock Price, News & Analysis

Generac Holdings has acquired Mean Green Products, a leading manufacturer of battery-powered turf care equipment. The acquisition, finalized on September 1, supports Generac's strategy to enhance its battery-powered product lineup. Mean Green’s innovative, zero-emission mowers align with Generac's goals of offering clean, efficient equipment. This strategic move reflects Generac's commitment to leading in the electrification of outdoor power tools, capitalizing on the advancements in battery technology. Terms of the deal were not disclosed.

BayWa r.e. Solar Systems LLC has partnered with Generac Power Systems (NYSE: GNRC) to enhance its distribution offerings with the PWRcell battery system and integrated energy storage solutions. This collaboration aims to meet consumer demand for solar-plus-storage solutions, leveraging Generac's installer training program to ensure quality installations. The PWRcell portfolio expansion includes features like whole-home load management and high-capacity modular batteries. A webinar on this partnership will occur on September 3, 2020.

Generac Power Systems (NYSE: GNRC) has announced a strategic partnership with Momentum Solar, aimed at enhancing solar and storage solutions for U.S. homeowners. This collaboration allows Momentum, the largest private residential solar installer in the U.S., to utilize Generac’s advanced technology, including the PWRcell energy storage system. Notably, the new EX lithium-ion battery module offers increased capacity and improved thermal performance. Generac aims to accelerate the adoption of affordable clean energy, reinforcing its position in the solar market.

Generac Power Systems (NYSE: GNRC) has launched innovations in its PWRcell product line, offering the first end-to-end solar and storage system capable of providing comprehensive backup power for homes. Key features include the PWRcell Automatic Transfer Switch (ATS) for managing whole-home power, higher-capacity batteries up to 18 kWh, and a new outdoor-rated battery cabinet. These advancements aim to simplify installation and enhance energy management, providing homeowners with reliable power during outages. The new offerings are set to make a significant impact on the solar and storage market.

Generac Power Systems has launched a new 24kW Guardian home standby generator, offering 24% more power in a 70% smaller footprint than traditional models. This innovation could save homeowners up to $8,000 on purchase and installation, coupled with energy monitoring technology that may reduce electricity bills by up to 20%, offsetting the generator's cost over time. Equipped with advanced features like the PWRview Automatic Transfer Switch and MobileLink remote monitoring, the new Guardian aims to enhance energy management and provide reliable backup power for households.

Generac Holdings (GNRC) announced it will release its second quarter financial results on July 30, 2020, before market opening. A conference call to discuss these results will take place at 9:00 a.m. EDT on the same day. Investors can access the call via phone or through a live webcast on Generac’s website. A telephonic replay will be available for seven days after the call. Generac is a leading provider of energy technology solutions, serving residential, commercial, and industrial markets globally.

Virtual Peaker and Generac have entered a licensing agreement to integrate Generac's PWRcell energy storage systems with Virtual Peaker's cloud-based platform. This partnership enables the PWRcell systems to participate in utility grid services programs, helping customers optimize solar power storage and reduce costs. They are already involved in Green Mountain Power's BYOD program and a pilot program with Portland General Electric. This collaboration aims to enhance energy management and support the transition to residential clean energy.

Generac has launched PWRzone, a revolutionary solar system design that enhances installation efficiency by utilizing fewer components than traditional systems. This innovation addresses high failure rates and low efficiency issues faced by solar installers. PWRzone's design allows for customizable sub-arrays, enabling quicker installations with fewer connection points, reducing errors. The system reportedly increases available solar energy while optimizing shade management, supported by a recent MPPT shade study. This initiative reflects Generac's commitment to simplifying solar energy solutions for homeowners and installers.

Generac Holdings reported a 1.2% increase in net sales for Q1 2020, reaching $475.9 million, compared to $470.4 million in Q1 2019. Notably, residential product sales surged by 18.3% to $257.6 million, while commercial & industrial sales fell by 17.7% to $172.1 million. The net income amounted to $44.5 million, translating to $0.68 per share, a slight decline from the previous year's $0.76. Adjusted EBITDA was $86 million, at 18.1% of net sales, down from 18.5%. The company has $573 million in liquidity and revised its full-year outlook, expecting a 5-10% decline in sales due to COVID-19 impacts, particularly in C&I products, but resilient residential demand is anticipated.