Generac Holdings Inc. (NYSE:GNRC) stock soared to a 52-week high of $167.47, reflecting a robust performance that has caught the attention of investors. The company, known for its power generation equipment and energy storage systems, has seen its stock price climb steadily, culminating in this new high. Over the past year, Generac has experienced a significant uptick in its market valuation, with a 1-year change showing an impressive 9.04% increase. This growth trajectory underscores the market's confidence in Generac's business model and its ability to capitalize on the growing demand for reliable power solutions.
In other recent news, Generac Holdings Inc. reported mixed results for its second quarter, with earnings surpassing expectations and a slight shortfall in revenue. The company posted Q2 adjusted earnings per share (EPS) of $1.35, above analysts' expectations of $1.21, but revenue fell just short of the anticipated $1 billion, coming in at $998.2 million. In other developments, Generac has also invested $35 million in Wallbox (NYSE:WBX), a company known for its smart electric vehicle charging and energy management solutions, to fuel its global expansion, particularly in North America. This marks the second time Generac has taken a minority stake in Wallbox, strengthening their existing commercial ties. Furthermore, Generac has revised its full-year 2024 net sales growth guidance to 4 to 8%, up from the previous range of 3 to 7%. The company continues to expect strong operating and free cash flow generation for the full year, with free cash flow conversion from adjusted net income well above 100%. These recent developments highlight the ongoing business activities of Generac Holdings Inc.
InvestingPro Insights
Generac Holdings Inc. (GNRC) has recently made headlines with its stock reaching a 52-week high, and a deeper dive into the company's financials via InvestingPro offers additional insights. With a market capitalization of $9.86 billion and a P/E ratio standing at 42.1, Generac is trading at a high earnings multiple, which suggests that investors are willing to pay a premium for its shares, possibly due to expectations of future growth. The company's liquid assets surpassing short-term obligations and a moderate level of debt, as highlighted by InvestingPro Tips, further instill confidence in its financial stability.
Despite a slight decline in revenue growth over the last twelve months, Generac has maintained a strong gross profit margin of 35.02%. Moreover, with a significant price uptick of 36.86% over the last six months and a robust 1-month price total return of 17.66%, the stock's recent performance has been notable. These figures align with the InvestingPro Tip that points to a strong return over the last month. Additionally, analysts predict profitability for the company this year, and with a history of being profitable over the last twelve months, this trend is expected to continue.
For investors seeking a more comprehensive analysis, the InvestingPro platform lists additional tips that can provide a deeper understanding of GNRC's potential. Interested readers can take advantage of the exclusive offer using the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, which includes these valuable insights. With 10 more InvestingPro Tips available, investors can gain an extensive overview of the company's financial health and prospects.
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