Welcome to our dedicated page for GENERAC HOLDINGS news (Ticker: GNRC), a resource for investors and traders seeking the latest updates and insights on GENERAC HOLDINGS stock.
Generac Holdings Inc. (NYSE: GNRC) is a leading energy technology company that has been designing and manufacturing power generation equipment since its founding in 1959. Headquartered in Waukesha, Wisconsin, Generac is recognized globally for providing reliable and affordable power solutions to both the residential and commercial sectors.
Generac's product offerings are extensive and tailored to meet diverse power needs. The company is renowned for its home standby generators, which have become a household staple. Generac was the pioneer in creating the first affordable home standby generators and the first engine developed specifically for generator use. This innovation has positioned Generac as a dominant player in the market, selling more home standby generators than all its competitors combined.
Beyond residential solutions, Generac has also made significant strides in the commercial sector. The company introduced a cost-effective product line that caters to small and mid-sized businesses, revolutionizing the market with versatile and dependable power solutions.
Generac’s product portfolio includes:
- Standby Generators: Reliable power solutions for home and business continuity during outages.
- Portable Generators: Versatile and mobile power sources for various applications.
- Clean Energy Products: Innovative solutions that include energy storage systems and smart energy management devices.
- RV Generators: Specialized power solutions for recreational vehicles.
- Commercial and Industrial Generators: Heavy-duty power systems for industrial applications.
Generac's core philosophy is to ensure customer peace of mind by delivering superior products and a top-notch ownership experience. The company is dedicated to maintaining its market leadership through continuous growth and innovation in power generation technology.
Recent news highlights the company's ongoing achievements and initiatives:
- January 31, 2024: Generac announced its fourth quarter and full-year 2023 financial results, showcasing record free cash flow generation and strong margin expansion.
- April 17, 2024: Plans to release first quarter 2024 financial results, with a focus on strong operational execution and margin expansion.
- May 13, 2024: Leadership changes with Shree Dandekar becoming the head of Corporate Engineering and Product Management.
- May 20, 2024: Introduction of the EVO 96, the world's largest electric zero-turn mower, by Mean Green, a Generac company.
Generac's commitment to innovation and sustainable energy solutions positions it at the forefront of the energy technology industry.
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
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.
Generac Holdings Inc. (NYSE: GNRC) announced its plans to release fourth quarter and full-year 2021 financial results on February 16, 2022, before market opening. A conference call with management will be held at 10:00 a.m. EST to discuss the earnings highlights, accessible by phone and via webcast. Generac, established in 1959, focuses on energy technology solutions, including backup power systems and solar+battery storage. The company emphasizes its commitment to sustainable energy products for future electrical grid solutions.
Sunnova Energy International Inc. (NYSE: NOVA) and Generac Power Systems, Inc. (NYSE: GNRC) are expanding their strategic partnership to enhance energy independence for homeowners. This collaboration will integrate Generac's advanced technology into Sunnova's offerings, introducing standby home generators and microinverters. The initiative aims to improve energy resilience and provide a comprehensive solution through the Sunnova Adaptive Home™. Financing options will now extend to the home standby generator market, accessible nationwide, including Puerto Rico.
FAQ
What is the current stock price of GENERAC HOLDINGS (GNRC)?
What is the market cap of GENERAC HOLDINGS (GNRC)?
What does Generac Holdings Inc. specialize in?
When was Generac founded?
What are Generac's main products?
What recent financial performance has Generac reported?
Who is the new head of Corporate Engineering and Product Management at Generac?
What is the EVO 96?
How does Generac ensure product quality and customer satisfaction?
Where can investors find more information about Generac's financial results?
How has Generac contributed to the power generation industry?
What is Generac's approach to sustainable energy solutions?
