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Generac (GNRC) Delivers 34 GWh of Energy to Grid With Concerto
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Generac Holdings’ (GNRC - Free Report) subsidiary, Generac Grid Services, announced that its Concerto platform had delivered more than 34 GWh of energy to the grid during periods of high demand.
The Generac Concerto platform is a distributed energy resource (DER) control and optimization platform that helps customers optimize energy usage, reduce costs and improve overall efficiency.
Per the company, the above-mentioned platform was extensively used to keep residential homes and commercial and industrial facilities powered throughout the year. The platform delivered 2.5 individual DER dispatches across 36,500 events from 18 utility clients and three wholesale markets.
The Concerto platform also helped utilities absorb excess renewable energy generation by increasing the load by 106 MWh and reducing excess generation's dispatch back to the grid.
Furthermore, the Concerto platform was used in various reserve markets and provided voltage support and threshold control to maintain stability in the distribution network. Generac Grid Services operates on a global scale, with projects in North America, Europe, the Middle East and Asia Pacific regions.
In September 2022, the company announced that Pearlstone will leverage Generac’s Concerto software platform to provide energy management solutions to customers living in the UK. The collaboration aims to reduce the strain on the UK power grid system during peak time, thereby increasing grid stability, especially during the winter season.
Generac manufactures power generation equipment, energy storage systems and other power products, including portable, residential, commercial and industrial generators. The success of the Concerto platform can help Generac establish itself as a leading provider of energy technology solutions and increase its market share in the industry.
For 2022, Generac expects revenue growth between 22% and 24% compared with the previous guidance of 36-40%. The net income margin (before deducting for non-controlling interests) is expected to be 9-10%.
Also, the company’s performance is affected due to stiff competition and supply-chain constraints.
At present, GNRC carries a Zacks Rank #5 (Strong Sell). The stock has lost 60.7% in the past year compared with the sub-industry’s decline of 65.6%.
The Zacks Consensus Estimate for Arista Networks 2022 earnings is pegged at $4.37 per share, unchanged in the past 60 days. The long-term earnings growth rate is anticipated to be 17.5%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 12.7%. Shares of ANET have declined 8.5% in the past year.
The Zacks Consensus Estimate for Jabil’s 2023 earnings is pegged at $8.31 per share, rising 1.6% in the past 60 days. The long-term earnings growth rate is anticipated to be 12%.
Jabil’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 8.8%. Shares of JBL have increased 13.5% in the past year.
The Zacks Consensus Estimate for Calix’s 2022 earnings is pegged at $1.06 per share, unchanged in the past 60 days.
Calix’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 19%. Shares of CALX have soared 22.6% in the past year.
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Generac (GNRC) Delivers 34 GWh of Energy to Grid With Concerto
Generac Holdings’ (GNRC - Free Report) subsidiary, Generac Grid Services, announced that its Concerto platform had delivered more than 34 GWh of energy to the grid during periods of high demand.
The Generac Concerto platform is a distributed energy resource (DER) control and optimization platform that helps customers optimize energy usage, reduce costs and improve overall efficiency.
Per the company, the above-mentioned platform was extensively used to keep residential homes and commercial and industrial facilities powered throughout the year. The platform delivered 2.5 individual DER dispatches across 36,500 events from 18 utility clients and three wholesale markets.
Generac Holdings Inc. Price and Consensus
Generac Holdings Inc. price-consensus-chart | Generac Holdings Inc. Quote
The Concerto platform also helped utilities absorb excess renewable energy generation by increasing the load by 106 MWh and reducing excess generation's dispatch back to the grid.
Furthermore, the Concerto platform was used in various reserve markets and provided voltage support and threshold control to maintain stability in the distribution network. Generac Grid Services operates on a global scale, with projects in North America, Europe, the Middle East and Asia Pacific regions.
In September 2022, the company announced that Pearlstone will leverage Generac’s Concerto software platform to provide energy management solutions to customers living in the UK. The collaboration aims to reduce the strain on the UK power grid system during peak time, thereby increasing grid stability, especially during the winter season.
Generac manufactures power generation equipment, energy storage systems and other power products, including portable, residential, commercial and industrial generators. The success of the Concerto platform can help Generac establish itself as a leading provider of energy technology solutions and increase its market share in the industry.
For 2022, Generac expects revenue growth between 22% and 24% compared with the previous guidance of 36-40%. The net income margin (before deducting for non-controlling interests) is expected to be 9-10%.
Also, the company’s performance is affected due to stiff competition and supply-chain constraints.
At present, GNRC carries a Zacks Rank #5 (Strong Sell). The stock has lost 60.7% in the past year compared with the sub-industry’s decline of 65.6%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the broader technology space are Arista Networks (ANET - Free Report) , Jabil (JBL - Free Report) and Calix (CALX - Free Report) . Calix and Jabil currently sport a Zacks Rank #1 (Strong Buy), whereas Arista Networks holds a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks.
The Zacks Consensus Estimate for Arista Networks 2022 earnings is pegged at $4.37 per share, unchanged in the past 60 days. The long-term earnings growth rate is anticipated to be 17.5%.
Arista Networks’ earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 12.7%. Shares of ANET have declined 8.5% in the past year.
The Zacks Consensus Estimate for Jabil’s 2023 earnings is pegged at $8.31 per share, rising 1.6% in the past 60 days. The long-term earnings growth rate is anticipated to be 12%.
Jabil’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 8.8%. Shares of JBL have increased 13.5% in the past year.
The Zacks Consensus Estimate for Calix’s 2022 earnings is pegged at $1.06 per share, unchanged in the past 60 days.
Calix’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 19%. Shares of CALX have soared 22.6% in the past year.