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Generac Holdings (GNRC) Collaborates With Pearlstone Energy

Generac Holdings GNRC subsidiary, Generac Grid Services announced that it has entered into a multi-year contract with UK-based company, Pearlstone Energy.

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.

Pearlstone will also utilize Concerto to bid on the flexible capacity of its customers in markets operated by National Grid's short-term operating reserve and Distribution System Operator.

Pearlstone will invite customers to participate in the abovementioned program and provide them with cost-saving measures and reduce carbon footprint.

Pearlstone and Generac want to address the increasing electricity prices in the UK by providing facility owners additional revenue streams and cost-saving opportunities in the upcoming months.

Recently, Generac’s subsidiary, ecobee collaborated with San Diego Gas & Electric (SDG&E) to launch a program aimed at minimizing power outages caused by extreme weather change.

The pilot program by ecobee is aimed at increasing grid stability by reducing the impact caused by heat waves, extreme weather and natural disasters. These events lead to an increase in energy demand and stress on the power grid, resulting in power shortages.

Prior to that, the company announced that it had been selected by Dominion Energy Virginia to modernize the electric grid. Dominion Energy planned to leverage Generac’s platform to efficiently manage smaller consumer-owned devices like battery storage and smart thermostats as well as large front-of-meter devices like solar and energy storage.

Generac manufactures power generation equipment, energy storage systems and other power products, including portable, residential, commercial and industrial generators.

For the third quarter, the Zacks Consensus Estimate for revenues stands at $1.34 billion, indicating an upside of 41.9% year over year. The consensus mark for earnings is pegged at $3.21 per share, implying an increase of 36.6% year over year.

The company reported second-quarter 2022 adjusted earnings of $2.99 per share, beating the Zacks Consensus Estimate by 12.8%. The bottom line also increased 25.1% year over year.

Net sales increased 40% year over year and came in at $1.29 billion, beating the consensus mark by 2.4%. The robust demand for Residential and Commercial & Industrial products boosted Generac’s second-quarter performance.

Generac currently carries a Zacks Rank #3 (Hold). Shares of the company have lost 52% compared with the industry’s fall of 64.7% in the past year.

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Stocks to Consider

Some better-ranked stocks from the broader technology space are Cadence Design Systems CDNS, Badger Meter BMI and Arista Networks ANET. Arista Networks currently sports a Zacks Rank #1 (Strong Buy), whereas Badger Meter and Cadence Design Systems presently carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for CDNS 2022 earnings is pegged at $4.11 per share, rising 5.7% in the past 60 days. The long-term earnings growth rate is anticipated to be 17.7%.

Cadence’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 9.8%. Shares of CDNS have jumped 2.7% in the past year.

The Zacks Consensus Estimate for BMI’s 2022 earnings is pegged at $2.30 per share, up 6% in the past 60 days.

Badger Meter’s earnings beat the Zacks Consensus Estimate in three of the preceding four quarters, with the average being 12.6%. Shares of BMI have lost 10.7% of their value in the past year.

The Zacks Consensus Estimate for Arista Network’s 2022 earnings is pegged at $4.04 per share, increasing 10.1% in the past 60 days. The long-term earnings growth rate is anticipated to be 18.6%.

Arista Network’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.1%. Shares of ANET have increased 28.1% in the past year.

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