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Will Generac's New PWRcell Energy Storage Products Drive Top Line?
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Generac Holdings Inc. (GNRC - Free Report) unveiled its new PWRcell 2 Home Energy Storage System product series, which includes PWRcell 2 and PWRcell 2 MAX. The PWRcell 2 will hit the market by 2024-end, while the PWRcell 2 MAX will be available in the second half of 2025. Designed to enhance power and reliability, these systems offer smarter energy management for homeowners.
In a single cabinet, the PWRcell 2 provides 18 kWh of capacity and 10 kW of continuous power, sufficient to handle most home loads, including a 5-ton A/C unit during outages. The PWRcell 2 MAX, boasting higher capabilities, offers 11.5 kW of continuous power, supports loads exceeding 200A LRA and features improved efficiency and a wider operating temperature range. Eligible customers can finance these products through Mosaic and Palmetto’s Lightreach financial products. These products will be available on current Lightreach-integrated third-party platforms, with further platforms to be added soon.
Both systems streamline home energy management with built-in integration for ecobee smart thermostats. This setup allows homeowners to monitor their storage system via an in-home display, aiding in energy bill savings. When used with these storage systems, the ecobee thermostat provides alerts and adjusts temperature settings during outages, optimizing energy use and extending backup power.
The PWRcell 2 and PWRcell 2 MAX are engineered to integrate effortlessly with Generac’s generator products, forming a flexible and resilient energy system. During extended power outages, customers can rely on the combination of a PWRcell 2 and a Generac brand generator for continuous comfort. If the PWRcell 2 battery runs low, the generator will not only power the home but also recharge the battery, ensuring uninterrupted support for the entire duration of the outage.
Generac Gains From Robust Demand for its Generator Products
Generac’s performance is being driven by higher Residential product sales that rose 8% year over year in the second quarter to $538 million. This growth was fueled by increasing demand for home standby and portable generators, particularly due to Hurricane Beryl, which affected Texas and heightened the need for backup power solutions. Thus, the PWRcell 2 series is expected to help the company boost sales and thereby will drive the top line.
Last month, Generac expanded its reach by partnering with Highland Homes, an award-winning builder, to offer its generators as options for new homes across Texas. This collaboration allows GNRC to integrate its North American-manufactured backup power systems and energy management tools directly into the home construction process, simplifying specification and integration from the start.
The company also noted a significant rise in home consultations in July 2024, driven by severe storms. As a result, the company raised its revenue outlook for 2024 to 4-8% year-over-year growth, revised up from the previous expected range of 3% to 7%.
Headquartered in Waukesha, Generac is a leading manufacturer of backup and prime power generation systems for residential and C&I applications, solar + battery storage solutions, advanced power grid software platforms and services, energy management devices and controls along with engine and battery-powered tools and equipment.
GNRC’s Zacks Rank & Stock Price Performance
GNRC currently carries a Zacks Rank #3 (Hold). Shares of the company have gained 22.4% in the past year compared with the sub-industry's growth of 1.2%.
Manhattan Associates delivered an earnings surprise of 26.6%, on average, in the trailing four quarters. In the last reported quarter, MANH pulled off an earnings surprise of 22.9%. The Zacks Consensus Estimate for MANH has increased 9.2% in the past 60 days to $4.26.
ANSYS delivered an earnings surprise of 4.8%, on average, in three of the trailing four quarters. In the last reported quarter, ANSS pulled off an earnings surprise of 28.9%. It has a long-term earnings growth expectation of 6.4%.
Adobe delivered an earnings surprise of 2.7%, on average, in the trailing four quarters. In the last reported quarter, ADBE pulled off an earnings surprise of 2.1%. It has a long-term earnings growth expectation of 13%.
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Will Generac's New PWRcell Energy Storage Products Drive Top Line?
Generac Holdings Inc. (GNRC - Free Report) unveiled its new PWRcell 2 Home Energy Storage System product series, which includes PWRcell 2 and PWRcell 2 MAX. The PWRcell 2 will hit the market by 2024-end, while the PWRcell 2 MAX will be available in the second half of 2025. Designed to enhance power and reliability, these systems offer smarter energy management for homeowners.
In a single cabinet, the PWRcell 2 provides 18 kWh of capacity and 10 kW of continuous power, sufficient to handle most home loads, including a 5-ton A/C unit during outages. The PWRcell 2 MAX, boasting higher capabilities, offers 11.5 kW of continuous power, supports loads exceeding 200A LRA and features improved efficiency and a wider operating temperature range. Eligible customers can finance these products through Mosaic and Palmetto’s Lightreach financial products. These products will be available on current Lightreach-integrated third-party platforms, with further platforms to be added soon.
Both systems streamline home energy management with built-in integration for ecobee smart thermostats. This setup allows homeowners to monitor their storage system via an in-home display, aiding in energy bill savings. When used with these storage systems, the ecobee thermostat provides alerts and adjusts temperature settings during outages, optimizing energy use and extending backup power.
The PWRcell 2 and PWRcell 2 MAX are engineered to integrate effortlessly with Generac’s generator products, forming a flexible and resilient energy system. During extended power outages, customers can rely on the combination of a PWRcell 2 and a Generac brand generator for continuous comfort. If the PWRcell 2 battery runs low, the generator will not only power the home but also recharge the battery, ensuring uninterrupted support for the entire duration of the outage.
Generac Holdings Inc. Price and Consensus
Generac Holdings Inc. price-consensus-chart | Generac Holdings Inc. Quote
Generac Gains From Robust Demand for its Generator Products
Generac’s performance is being driven by higher Residential product sales that rose 8% year over year in the second quarter to $538 million. This growth was fueled by increasing demand for home standby and portable generators, particularly due to Hurricane Beryl, which affected Texas and heightened the need for backup power solutions. Thus, the PWRcell 2 series is expected to help the company boost sales and thereby will drive the top line.
Last month, Generac expanded its reach by partnering with Highland Homes, an award-winning builder, to offer its generators as options for new homes across Texas. This collaboration allows GNRC to integrate its North American-manufactured backup power systems and energy management tools directly into the home construction process, simplifying specification and integration from the start.
The company also noted a significant rise in home consultations in July 2024, driven by severe storms. As a result, the company raised its revenue outlook for 2024 to 4-8% year-over-year growth, revised up from the previous expected range of 3% to 7%.
Headquartered in Waukesha, Generac is a leading manufacturer of backup and prime power generation systems for residential and C&I applications, solar + battery storage solutions, advanced power grid software platforms and services, energy management devices and controls along with engine and battery-powered tools and equipment.
GNRC’s Zacks Rank & Stock Price Performance
GNRC currently carries a Zacks Rank #3 (Hold). Shares of the company have gained 22.4% in the past year compared with the sub-industry's growth of 1.2%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the broader technology space are Manhattan Associates, Inc. (MANH - Free Report) , ANSYS, Inc. (ANSS - Free Report) and Adobe Inc. (ADBE - Free Report) . MANH presently sports a Zacks Rank #1 (Strong Buy), whereas ANSS & ADBE carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Manhattan Associates delivered an earnings surprise of 26.6%, on average, in the trailing four quarters. In the last reported quarter, MANH pulled off an earnings surprise of 22.9%. The Zacks Consensus Estimate for MANH has increased 9.2% in the past 60 days to $4.26.
ANSYS delivered an earnings surprise of 4.8%, on average, in three of the trailing four quarters. In the last reported quarter, ANSS pulled off an earnings surprise of 28.9%. It has a long-term earnings growth expectation of 6.4%.
Adobe delivered an earnings surprise of 2.7%, on average, in the trailing four quarters. In the last reported quarter, ADBE pulled off an earnings surprise of 2.1%. It has a long-term earnings growth expectation of 13%.