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Generac (GNRC) Launches EV Charging Solution for Utilities

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Generac Power Systems’ GNRC subsidiary, Generac Grid, rolled out electric-vehicle charging solutions for utilities and EV owners.

The company’s EV charging solutions, including Geotab telematics, are now accessible worldwide.

The utility-focused product is powered by Geotab telematics technologies to empower EV owners of most makes and models to take control of their car charging. It also provides utilities with vital monitoring data supplied directly from a Geotab GO device that is installed in the vehicle's onboard diagnostic port.

Generac Holdings Inc. Price and Consensus

Generac Holdings Inc. Price and Consensus
Generac Holdings Inc. Price and Consensus

Generac Holdings Inc. price-consensus-chart | Generac Holdings Inc. Quote

Through its telematics solutions, Geotab provides secure and reliable data acquired from electric vehicles. According to Generac Grid Services, EVs are a critical distributed energy resource to shift load to capture low-carbon, clean energy and manage peak demand, which will play a key factor in decarbonizing the transportation sector.

Generac Grid Services is using its comprehensive utility program design experience (including Geotab telematics offerings) to deliver a variety of solutions to the utilities to aid them at every stage of their EV strategy rollouts, like monitoring to behavioral response, smart charging, and advanced vehicle-to-home and vehicle-to-grid solutions.

The charging data can be used by monitoring programs to help with grid planning and rate design. In contrast, behavioral programs can use charging data insights combined with strategic consumer messaging and incentives to impact long-term charging habits.

Further, EV drivers can avail financial incentives by enrolling in various utility schemes that leverage data streaming from the Geotab GO gadget. Data from Geotab GO can provide information regarding rate structures, utility system planning, regulatory requirements, and the verification of participation in smart-charging programs and events added Generac.

Generac Grid Services maintains agreements with EV charging station manufacturers to offer new smart charging options in addition to supplying vehicle-side data through Geotab telematics systems.

For example, Generac Grid Services ensures that the signal is received by Concerto (Generac's real-time energy-balancing platform) by sending a signal directly to EV chargers instructing them to start or stop charging, and it also works with charger manufacturers. By combining both solution types, Generac supplies programming that supports major charging station providers and more than 220 EV models from all class sizes (including light to heavy-duty electric cars).

Key Picks

Generac currently has a Zacks Rank #3 (Hold).

Some better-ranked stocks from the broader technology space are InterDigital IDCC, Vishay Intertechnology VSH and Pure Storage PSTG. InterDigital and Pure Storage currently sport a Zacks Ranks #1 (Strong Buy), whereas Vishay Intertechnology carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for InterDigital’s 2022 earnings is pegged at $3.28 per share, increasing 5.2% in the past 60 days. The long-term earnings growth rate is anticipated to be 15%.

InterDigital’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 141.13%. Shares of InterDigital have gained 29.1% in the past year.

The Zacks Consensus Estimate for Vishay Intertechnology’s 2022 earnings is pegged at $2.68 per share, rising 10.3% in the past 60 days. The long-term earnings growth rate is anticipated to be 22.7%.

Vishay Intertechnology’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 4.96%. Shares of Vishay Intertechnology have declined 17.5% in the past year.

The Zacks Consensus Estimate for Pure Storage’s fiscal 2023 earnings is pegged at 86 cents per share, unchanged in the past 60 days. The long-term earnings growth rate is anticipated to be 30.9%.

Pure Storage’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 99.2%. Shares of Pure Storage have gained 47.3% in the past year.


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Generac Holdings Inc. (GNRC) : Free Stock Analysis Report

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