GENERAC HOLDINGS INC - GNRC STOCK NEWS

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.

Generac Power Systems (NYSE: GNRC) announced its annual Environmental, Social, and Governance (ESG) report for the year ending December 31, 2021. The report highlights key acquisitions and advancements in energy technology that support a transition to sustainable energy solutions. Generac emphasizes its commitment to operational sustainability, resource management, and social responsibility. CEO Aaron Jagdfeld stated the report reflects their dedication to delivering sustainable value to employees, customers, and shareholders while enhancing their ESG program to achieve measurable performance improvements.

Generac Holdings Inc. (NYSE: GNRC) plans to announce its first quarter 2022 financial results on May 4, 2022, before market opening. A conference call will follow at 10:00 a.m. EDT to discuss the earnings highlights. Interested parties can join the call by dialing (866) 415-3113 domestically or +1 (678) 509-7544 internationally. The call will also be accessible via a live webcast on Generac’s website, with a replay available afterward.

ecobee has launched its Smart Security with Professional Monitoring system in the United States, marking its official exit from beta. This innovative system combines home security with ecobee thermostats and sensors to safeguard against break-ins and reduce energy costs. Users can upgrade starting at $79.99 for sensors and $10 monthly for monitoring. The Smart Security Complete plan may yield annual savings of up to $360. Additionally, the service is supported by RapidSOS, enhancing emergency response capabilities.

Generac Holdings Inc. (NYSE: GNRC) has announced the immediate suspension of its operations and sales in Russia due to the ongoing conflict in Ukraine. This decision aligns with the company's stance against the Russian regime's military actions and expresses solidarity with Ukraine. Sales in Russia account for less than 1% of Generac's total revenue, and the financial impact is not expected to be material. Generac does not have any employees in Ukraine.

Generac Holdings (GNRC) reported fourth-quarter 2021 net sales of $1.07 billion, a 40% increase year-over-year, driven by robust demand in both residential and commercial segments. Full-year sales reached $3.74 billion, a 50% rise, with net income of $550 million. The company anticipates 32-36% growth for 2022, focusing on energy technology solutions and strategic acquisitions. Despite challenges like rising input costs affecting gross margins, Generac expects continued strong performance across its expanding product portfolios.

Generac Holdings (NYSE: GNRC) announced the appointment of Nam Tran Nguyen to its Board of Directors, effective March 1, 2022. Nam brings extensive experience from her role as COO of Generate Capital and prior positions at SunPower and First Solar. Generac's CEO, Aaron Jagdfeld, expressed excitement about her renewable energy background, which aligns with the company's commitment to innovating the electrical grid. This strategic move aims to strengthen Generac's governance and operational capabilities in the energy sector.