Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Adam Eckert

Why Generac Holdings Stock Is Charging Higher Today

Generac Holdings Inc (NYSE:GNRC) shares are trading higher Wednesday after the company reported better-than-expected financial results and raised its 2022 sales growth guidance. 

Generac said first-quarter revenue increased 41% year-over-year to $1.14 billion, which beat the $1.09 billion estimate. The power equipment company reported quarterly adjusted earnings of $2.09 per share, which beat the estimate of $1.94 per share, according to data from Benzinga Pro.

"We made better-than-expected progress towards our production targets, which helped drive our top line beyond expectations during the quarter despite the ongoing challenging operating environment," said Aaron Jagdfeld, president and CEO of Generac.

Generac raised its full-year 2022 net sales guidance from a range of 32% to 36% to a range of 36% to 40%.

See Also: What's Going On With Starbucks Shares Today?

GNRC 52-Week Range: $217.10 - $524.31

The stock was up 5.91% at $248 at press time. 

Photo: Scott Lewis from Flickr.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.