Why Energy Technology Company Generac's Shares Are Surging Today
Portfolio Pulse from Nabaparna Bhattacharya
Generac Holdings Inc. (NYSE:GNRC) shares are trading higher after Q3 adjusted EPS of $1.64 beat the analyst consensus of $1.51. However, the company reported a 2% YoY sales decline to $1.071 billion, beating the consensus of $1.040 billion. Residential product sales declined 15%, while Commercial & Industrial product sales increased 24%. The company reiterated its full-year 2023 net sales guidance, which is expected to decline 10% to 12% compared to the prior year.
November 01, 2023 | 12:31 pm
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Generac's Q3 earnings beat analyst expectations, leading to a surge in its stock price. However, the company expects a 10% to 12% decline in net sales for 2023.
Generac's Q3 earnings beat analyst expectations, which is a positive signal for investors and can lead to a surge in the stock price. However, the company's forecast of a decline in net sales for 2023 might temper investor enthusiasm in the longer term.
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