99.73 +0.15 (0.15%)
After hours: 4:26PM EST
|Bid||99.82 x 1100|
|Ask||99.62 x 800|
|Day's Range||99.19 - 100.45|
|52 Week Range||45.43 - 102.13|
|Beta (5Y Monthly)||1.18|
|PE Ratio (TTM)||24.17|
|Earnings Date||Feb 12, 2020 - Feb 17, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||104.83|
Shares of generator company Generac are rising, after beating earnings expectations. Yahoo Finance’s Akiko Fujita and Ines Ferre discuss the quarterly results, along with the surging demand for generators, on The Ticker.
Yahoo Finance’s Zack Guzman, Brian Cheung, and former GE Vice Chair Beth Comstock discuss the California wildfires and how demanding is booming for backup generators with Generac CEO Aaron Jagdfeld.
GeneracⓇ Power Systems (NYSE: GNRC) announced that it's highly anticipated battery storage system and home energy management solution is now available to order by its distribution partners and dealers. Units will begin shipping immediately.
The 700+ hedge funds and famous money managers tracked by Insider Monkey have already compiled and submitted their 13F filings for the third quarter, which unveil their equity positions as of September 30. We went through these filings, fixed typos and other more significant errors and identified the changes in hedge fund portfolios. Our extensive […]
Ametek (AME) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.
(Bloomberg) -- Ebony Lopez’s electric company in Napa wine country used to get a handful of inquiries a week from people asking about generators. After PG&E Corp. shut power to millions of Californians last month, it’s more like 10 to 15 calls a day.“It’s been nonstop,” Lopez said. “People are definitely being reactive.”As Californians face years of intentional blackouts -- a strategy by the state’s utilities to prevent wildfires -- homeowners are rushing to find alternative sources of power to keep the lights on. Last month’s outages, in particular, swept across affluent areas just outside of San Francisco, hitting people who have the means to pay up for pricey equipment.The trend isn’t unique to California. With climate change colliding with an aging grid, residents of areas from snowy New England to the hurricane-threatened South face more disruptions to power. But with costs for whole-house generators or solar and battery packages running tens of thousands of dollars, the demand for backup systems underscores a stark reality: Wealthy people will be able to endure outages while the poor are left in the dark.“Like a lot of things that we’re talking about in society today and the inequality that exists, that gap in inequality could show up in even how you get your power,” said Aaron Jagdfeld, chief executive officer of Generac Holdings Inc., the country’s biggest standby generator company. Its shares have almost doubled this year on the prospect of rising demand. They climbed 2.1% to $99.35 at 12:25 p.m. in New York.Generac sells portable generators for as little as $439, but the higher-end, permanently installed automatic generators the company specializes in run as high as $30,699 for the most robust residential unit, which is strong enough to power a convenience store. Installation costs can be about $10,000 on top of that for any of its standby models.Generac’s sales are up 300% in California this year, Jagdfeld said. Demand is so brisk that the Waukesha, Wisconsin-based company is considering opening a Sacramento office for training, inventory and retail.PG&E, in bankruptcy because of billions of dollars in liabilities from deadly fires sparked by its equipment, has warned that it may take 10 years to dramatically reduce intentional power shutoffs during dangerous weather. Its blackouts have stretched from lower-income regions in the Sierra Foothills to wealthy communities such as Marin County, which has some of the highest home values in the country. The wine-growing areas of Napa and Sonoma counties have been hit multiple times.While rain was forecast to hit the region Tuesday, signaling the much-anticipated start of the wet season and diminishing the threat of fires, Californians are preparing for the years ahead.The power outages “opened people’s eyes to disaster preparedness and how important it is,” said Ed Lynch, a real estate broker with a home in Napa County. After PG&E cut his power three times this year, he looked into solar panels and backup batteries for his three-bedroom house. The price tag: $61,000.“I’m definitely going to do it,” he said.Solar panels are popular in California, but are tied to the grid and require back-up batteries to keep electricity running during a blackout. Big solar companies promoted their systems during the shutoffs, with Elon Musk offering $1,000 discounts for Tesla Inc.’s solar and Powerwall battery backup for residents affected by wildfire outages.Brian Urey, a resident of Marin’s Mill Valley, decided to add backup batteries to his home in August after hearing about PG&E’s plans for scheduled service interruptions. The two Tesla Powerwalls plus installation and permits cost him more than $18,000, he said. (He expects to get about $6,000 back in tax credits.) Everything was up and running in September, in time for the most severe part of fire season.As many of Urey’s neighbors went dark in October, he continued life as normal, watching TV, doing laundry and running the dishwasher. “It was flawless,” he said. He had a couple of friends without power over for dinner and let his neighbor plug an extension cord into his house to charge phones and turn on a lamp. That neighbor is now having their house outfitted with Tesla solar panel and backup batteries, Urey said.Installing solar panels or large generators is mainly an option for people who own their homes, excluding the millions of renters in California’s pricey housing market. As inequality in the state grows more extreme, backup power systems will be just one more issue that widens the gap, said Reed Walker, associate professor of business and public policy and economics at the University of California, Berkeley’s Haas School of Business.“The current state of adaptation, which is currently ‘I hope you can afford a generator or Tesla Powerwall’, is misguided,” Walker said. If nothing changes in the future, “there’d be enormous disparities in the way that people go about their day-to-day lives.”Still, there are products for everyone, said Generac’s Jagdfeld. Many standby generators have lower costs, with the company’s average proposal price in California coming in at $9,000 to $13,000, including installation. Cheaper portable generators have enough power to charge phones and even keep a refrigerator running in some cases. And they can be used by renters, too.Sally Benson, director of Stanford’s Global Climate & Energy Project, said she’s more concerned that people may end up using backup power for more than just emergencies, causing greater harm to the environment.“This idea that you can just be off the grid, we are hearing that more and more,” Benson said. “Under those circumstances the power you’re consuming actually has higher carbon intensity and pollution than the good as a whole.”In Napa, Lynch said he expects California’s solar credits will shave about $30,000 off the cost of his equipment. But he’s seen a long lead time for installation.“Demand has gone through the ceiling,” Lynch said. “If people are thinking about it, they probably want to get in line.”(Updates with Generac’s average prices in 17th paragraph)\--With assistance from Brian Eckhouse.To contact the reporter on this story: Sophie Alexander in New York at email@example.comTo contact the editors responsible for this story: Pierre Paulden at firstname.lastname@example.org, Kara Wetzel, Peter EichenbaumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Generac Power Systems, Inc. New York, November 20, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Generac Power Systems, Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
Generac Holdings (GNRC) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.
The wildfires raging in California and ensuing power outages are creating new demand for solar energy alternatives, as many residents are aiming to become less reliant on the state's power grid.
Estee Lauder were among several key earnings reports early Thursday, along with Generac, Tempur Sealy, Top Build, Yeti Holdings and more.
Generac Holdings (GNRC) delivered earnings and revenue surprises of 8.33% and 3.93%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
WAUKESHA, Wis., Oct. 31, 2019 -- Generac Holdings Inc. (NYSE: GNRC) (“Generac” or the “Company”), a leading global designer and manufacturer of energy solutions and other power.
A leading manufacturer of backup generator products is seeing a huge boost in demand, with California roiled by blackouts imposed by Pacific Gas and Electric (PCG).
Waukesha-based generator manufacturer Generac Holdings Inc. continues its push into the clean energy solutions market with investment in Quebec-based Sofdesk Inc.