Generac Holdings Inc.’s GNRC subsidiary, ecobee, has launched the Smart Thermostat Essential, a budget-friendly option that maintains the brand's hallmark comfort and convenience. Featuring a sleek full-color touchscreen, this new device is easy to install, simple to use and offers substantial savings. Customers can reduce annual heating and cooling costs by up to 23% (compared to maintaining a constant temperature of 72°F/22°C, actual savings may fluctuate based on factors such as the season, climate zone and rate structure), potentially recovering the device's cost within just six months.
The Essential thermostat adapts to household routines with features like personalized scheduling and automatically learning the time required to heat or cool a home, ensuring the desired temperature is reached when needed. When paired with optional SmartSensors, it further optimizes comfort in frequently used rooms.
With its intuitive touchscreen and mobile app integration, users can control their home’s temperature even remotely and receive alerts for potential issues. The device is compatible with major smart home platforms, including Amazon Alexa, Apple HomeKit and Google Assistant, providing flexibility and convenience. Additionally, the new “Home Energy Reports” feature helps users track and improve energy efficiency.
Generac Holdings Inc. Price and Consensus
Generac Holdings Inc. price-consensus-chart | Generac Holdings Inc. Quote
The Smart Thermostat Essential is the latest addition to ecobee’s lineup of award-winning, ENERGY STAR-certified smart thermostats, which also includes the “Enhanced and Premium models.” The smart thermostat focuses on affordability while maintaining durability and sustainability. Built with premium materials and eco-friendly packaging, the device supports ongoing software upgrades to ensure continuous innovation and long-term value for customers.
ecobee's Innovations & Product Launches Bode Well
On Nov 20, ecobee unveiled the Home Energy Reports feature in its app, empowering users to track their heating and cooling energy use, find ways to save and make smarter, eco-friendly decisions for their homes. On Oct. 22, ecobee expanded its Smart Security offerings by collaborating with leading smart lock manufacturers Yale and August. ecobee Smart Security is an innovative home monitoring solution that empowers users to take full control of their living spaces.
On Oct 15, ecobee launched the ecobee Smart Thermostat Lite. It brings together insights from HVAC professionals and feedback from customers across various generations of ecobee thermostats, making it an easy-to-install and dependable option for professional installers while being a straightforward solution for users. In May 2024, the firm unveiled an enhanced grid resiliency program to mitigate power outages caused by extreme weather, sustained high heat and natural disasters.
Founded in 2007, ecobee aims to enhance daily life while promoting sustainability. Since introducing the first smart thermostat in 2009, it has enabled customers across North America to save nearly 27.8 terawatt-hours of energy. In November 2021, it became part of Generac.
Generac is a leading manufacturer of backup and prime power generation systems for residential and C&I applications, solar + battery storage solutions, advanced power grid software platforms and services, energy management devices and controls along with engine and battery-powered tools and equipment.
Higher Residential product sales drive Generac’s performance amid declining C&I product revenues. Increasing power outage activity led to higher shipments of home standby and portable generators. GNRC updated its sales expectations for 2024 owing to recent power outage activity, including the impact of Hurricane Helene and Hurricane Milton. GNRC expects an “outsized increase” in the Residential product division to partly offset weakness in the C&I business andOther product sales in certain end markets and regions.
For 2024, GNRC expects revenues to increase 5-9% compared with the earlier guidance of a 4-8% rise. Net income margin is anticipated between 7% and 8% compared with the earlier guided range of 6.5-7.5%. Adjusted EBITDA margin is estimated to be 17.5-18.5% compared with the previous guidance of 17-18%.
Generac’s Zacks Rank & Stock Price Performance
GNRC currently carries a Zacks Rank #2 (Buy). Shares of the company have soared 32.3% in the past year compared with the industry's growth of 11.7%.
Image Source: Zacks Investment Research
Other Stocks to Consider
Some other top-ranked stocks from the broader technology space are InterDigital, Inc. IDCC, Intrusion Inc. INTZ and BlackBerry Limited BB. IDCC presently sports a Zacks Rank #1 (Strong Buy), whereas INTZ and BB carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for InterDigital’s 2024 earnings per share is pegged at $15.19, unchanged in the past 30 days. IDCC earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 163.7%. The company’s long-term earnings growth rate is 15%. Its shares have jumped 66.2% in the past six months.
INTZ’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 43.06%. In the last reported quarter, Intrusion delivered an earnings surprise of 16.67%. Its shares have surged 185.6% in the past six months.
BlackBerry Limited earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 131.25%. In the last reported quarter, BB delivered an earnings surprise of 200%. Its shares have surged 74.4% in the past three months.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>InterDigital, Inc. (IDCC) : Free Stock Analysis Report
Generac Holdings Inc. (GNRC) : Free Stock Analysis Report
BlackBerry Limited (BB) : Free Stock Analysis Report
Intrusion Inc. (INTZ) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
