GENERAC HOLDINGS INC - GNRC STOCK NEWS

Generac Holdings reported strong Q3 2024 financial results with net sales of $1.17 billion, up 10% year-over-year. Residential product sales increased 28% to $723 million, while Commercial & Industrial sales decreased 15% to $328 million. Net income rose to $114 million ($1.89 per share), compared to $60 million ($0.97 per share) in Q3 2023. The company generated strong cash flow from operations of $212 million and repurchased shares worth $102 million. Due to elevated power outage activity, Generac updated its full-year 2024 guidance, expecting net sales growth of 5-9% and adjusted EBITDA margin of 17.5-18.5%.

ecobee has announced an integration of its Smart Security system with Yale and August smart locks, enhancing home security and convenience for users in the United States and Canada. This integration allows customers to:

• Control their smart locks directly from the ecobee app
• Automatically lock their home when leaving
• Arm their security system remotely
• Manage security and comfort in one place

The new feature also enables users to unlock doors for guests through the Live View of their ecobee Smart Doorbell Camera. Greg Fyke, CEO of ecobee, emphasized that this integration provides a unique whole home solution for energy management and security. The partnership aims to combine trusted names in smart home innovation to deliver both convenience and confidence in everyday security.

Generac Holdings (NYSE: GNRC) has been selected by the U.S. Department of Energy to receive a $50 million award as part of the Grid Resilience and Innovation Partnership (GRIP) program. The project, in collaboration with the California Water Association, aims to integrate clean energy solutions with water utilities across California, with a total investment of approximately $100 million across about 100 sites.

The initiative will focus on Disadvantaged Communities (DACs), with at least 55% of sites located in these areas. The project will implement microgrids utilizing battery energy storage and distributed energy resource management systems to form virtual power plants, enhancing grid reliability and resilience. It is expected to create 200 union construction jobs and 33 direct jobs, with 59% of project benefits directed to DACs.

Generac Holdings Inc. (NYSE: GNRC), a global leader in energy technology solutions and power products, has announced the release date for its third quarter 2024 financial results. The results will be made public before the market opens on Thursday, October 31, 2024. Following the release, Generac management will host a conference call at 10:00 a.m. EDT to discuss the highlights of the earnings report.

Interested parties can access the conference call through a registration link provided in the announcement. The call will also be webcast live on Generac's website under the Investor Relations section. For those unable to attend the live event, a replay of the webcast will be available on the company's website after the call concludes.

ecobee, a subsidiary of Generac Power Systems (NYSE: GNRC), has launched the ecobee Smart Thermostat Lite, available exclusively through Pro distribution channels. This new thermostat is designed with professional installers in mind, offering easy installation, durability, and hardwired reliability. Key features include:

- Compatibility with most HVAC systems, including multi-stage and dual-fuel systems
- Support for accessories like humidifiers, dehumidifiers, and ventilators
- ENERGY STAR® certification with potential energy bill savings of up to 23%
- Automatic adjustment to fit routines for optimized comfort and energy savings
- Integration with popular smart home systems
- Pro PIN registration for ongoing customer connection

The ecobee Smart Thermostat Lite and Power Extender Kit are now available to professionals through distributors, backed by a 5-year warranty and dedicated Pro support.

Generac Holdings (NYSE: GNRC) has unveiled its new PWRcell 2 Home Energy Storage System product series at RE+, featuring PWRcell 2 and PWRcell 2 MAX. These products offer enhanced power, reliability, and smarter integration across the energy ecosystem. Key features include:

- PWRcell 2: 18 kWh capacity, 10 kW max continuous power
- PWRcell 2 MAX: 11.5 kW max continuous power, higher efficiency
- Seamless integration with Generac generators and ecobee smart thermostats
- Ability to power homes and recharge during extended outages
- Native integration with ecobee for energy management and savings

PWRcell 2 will be available by the end of 2024, while PWRcell 2 MAX is set to debut in the second half of 2025. The products are part of Generac's expanding portfolio of residential energy technology solutions.

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.