Generac Holdings ( GNRC Quick Quote GNRC - Free Report) subsidiary, DR Power Equipment, has announced the latest leaf collection system, PILOT XT and PILOT XTSP (PILOT XT series) Leaf and Lawn Vac.
The inclusion of the PILOT XT series powered leaf collectors is intended to meet the needs of people from rural areas with a composting end goal to suburbanites with curbside collection service.
The new leaf collector features the EZ Bagger Leaf Collection System, a push and self-propelled powered system designed in line with standard disposable leaf bags, capable of holding 3 cubic feet or 50 pounds of leaves, per company reports.
The new system consists of a fold-down platform for placing an empty leaf bag, a support ring to keep the top open and the EZ Bagger hatch, which secures the bag and forms a vacuum seal. The PILOT XT versions also include a caddy that can handle an additional 10 empty leaf bags and customers can purchase an additional caddy to carry up to 20 bags at once.
The new feature reduces the time taken for bagging and travel time to and forth between the lawn and the dumping spot.
Generac manufactures power generation equipment, energy storage systems and other power products, including portable, residential, commercial and industrial generators. Significant changes in the energy landscape, drastic climate change, aging power infrastructure and deployment of superfast 5G technology are likely to spur secular growth opportunities for Generac.
The company intends to diversify its business model from being solely ‘‘equipment centric’’ to a systems and services provider through connectivity solutions and subscription-based applications with an emphasis on improving the end-user experience and helping customers lower utility costs.
The company leverages data obtained from connected devices by developing predictive analytics that helps in continuously improving product quality, sales processes and tools, energy optimization, aftermarket penetration, customer experience and alignment with dealers.
In addition, the company pursues potential acquisition opportunities to monetize an ecosystem of devices that relate to energy use, storage, generation, control and optimization to further strengthen its leading market position.
Generac currently carries a Zacks Rank #3 (Hold). Shares of the company have lost 60.2% compared with the
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