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Last $49.58 USD
Change Today +0.87 / 1.79%
Volume 62.5K
GNRC On Other Exchanges
Symbol
Exchange
Berlin
New York
As of 10:29 AM 03/30/15 All times are local (Market data is delayed by at least 15 minutes).

generac holdings inc (GNRC) Key Developments

Generac Introduces Two New Backup Generator Installation Technologies

Generac Power Systems Inc. has introduced two new technologies to reportedly simplify the installation of an automatic home backup generator. Generac's new Smart Management Modules (SMM) are a load management system that allow homeowners to purchase a lower kilowatt automatic backup power system that fits within their budget, while the new 16 circuit NEMA 3R rated automatic transfer switch helps reduce installation costs for customers with an electrical panel located outside the home. Generac's new Smart Management Modules (SMM) are a load management system that manages backup power to essential circuits identified by the homeowner, and autonomously pushes available power to non-essential circuits, as it becomes available. The Smart Management Modules are wire-free, which makes them easier to install since no control wires are required, and helps lower installation costs. Up to eight Smart Management Modules can be installed with a compatible automatic transfer switch, to manage power loads. The Smart Management Module technology is protected in a NEMA 3R weather-proof enclosure, making each unit compatible for indoor and outdoor installations.

Generac Power Systems Launches Two New Technologies

Generac Power Systems has introduced two new technologies that claim to make installing an automatic home backup generator easier and more affordable for homeowners. The new Smart Management Module is a load management system that allows homeowners to purchase a lower kilowatt automatic backup power system that fits within their budget. The company has also launched new 16 circuit NEMA 3R rated automatic transfer switch that helps decrease installation costs for customers with an electrical panel located outside the home.

Barry Goldstein Plans to Retire from the Board of Directors of Generac Holdings

On March 3, 2015, Mr. Barry Goldstein, a Class III director of Generac Holdings Inc., informed the company of his plan to retire from the board of directors at the end of his current term on June 10, 2015. Mr. Goldstein's retirement from the board is not the result of a disagreement with the company on any matter relating to the company's operations, policies or practices.

Generac Holdings Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Full Year 2015

Generac Holdings Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, net sales increased by 7.4% to $404.0 million as compared to $376.2 million in the prior-year fourth quarter. Income from operations was $79,115,000 against $91,218,000 a year ago. Income before provision for income taxes was $66,854,000 against $78,458,000 a year ago. Net income was $49.4 million, or $0.70 per diluted share as compared to $48.5 million or $0.69 per diluted share for the same period of 2013. Adjusted net income was $68.4 million, or $0.98 per diluted share, as compared to $77.5 million, or $1.11 per diluted share, in the fourth quarter of 2013. Adjusted net income before provision for income taxes was $74,686,000 against $86,657,000 a year ago. Adjusted EBITDA was $92.2 million as compared to $103.6 million in the fourth quarter last year. Cash flow from operations in the fourth quarter of 2014 was $110.5 million as compared to $104.7 million in the prior year quarter. Expenditures for property and equipment were $11,967,000 against $16,513,000 a year ago. For the year, net sales were $1.461 billion as compared to $1.486 billion in 2013. Income from operations was $293,375,000 against $351,465,000 a year ago. Income before provision for income taxes was $258,362,000 against $278,716,000 a year ago. Net income was $174.6 million, or $2.49 per diluted share as compared to $174.5 million or $2.51 per diluted share for 2013. Adjusted net income was $234.2 million or $3.34 per diluted share as compared to $301.7 million or $4.33 per diluted share in 2013. Adjusted EBITDA for 2014 was $337.3 million as compared to $402.6 million last year. Cash flow from operations was $253.0 million as compared to $259.9 million in the prior year. Adjusted net income before provision for income taxes was $268,448,000 against $327,485,000 a year ago. Expenditures for property and equipment were $34,689,000 against $30,770,000 a year ago. Net debt as on December 31, 2014 was $898,256,000 compared to $1,047,248,000 as on December 31, 2013. The increase in sales was primarily driven by strength in oil & gas markets and the contributions from acquisitions, partially offset by a decline in shipments to certain telecom customers. The company is initiating guidance for 2015 with net sales expected to increase in the low-to-mid-single digit range as compared to the prior year. This top-line guidance assumes no material changes in the current macroeconomic environment and no major power outage events during 2015, but does assume a more normalized baseline level of power outage severity during the year. Adjusted EBITDA margins are expected to be approximately 23.5% to 24.0%, an improvement compared to 23.1% for 2014. Free cash flow generation is expected to remain strong in 2015 and grow from prior-year levels due to an attractive margin profile, low-cost of debt, favorable tax attributes and capital-efficient operating model.

Generac Holdings Mulls Acquisitions

Generac Holdings Inc. (NYSE:GNRC) is looking for acquisitions. Chief Executive Officer, Aaron Jagdfeld stated that company is confident in its ability to continue to invest in the future growth of the business, both organically and through acquisitions, while also further executing diversification and international expansion strategies.

 

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