On August 4, Generac rose 5.34% in pre-market trading, trading at $208.4/share, with turnover of $246,500. The stock continues to gain momentum following a strong second-quarter earnings report and growing data center backlog.
Generac reported Q2 adjusted earnings of $2.91 per share, beating the analyst consensus estimate of $2.01 by 44.78%, representing a 76.36% year-over-year increase from $1.65 per share in the prior-year period. Net sales for the quarter came in at $1.17 billion, up 10.4% year-over-year. The company reaffirmed its full-year net sales growth guidance of 15%-19% and projected full-year net profit margin of approximately 9.0% to 10.0%. Notably, the company highlighted a rapidly increasing data center backlog providing visibility to significant growth ahead, following a global supply agreement signed with a hyperscale data center operator earlier this year. The Commercial & Industrial segment acceleration drove robust operating leverage during the quarter. Analysts maintain an average overweight rating with a mean price target of $295.86.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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