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Q3 Earnings Highs And Lows: Generac (NYSE:GNRC) Vs The Rest Of The Renewable Energy Stocks

By: StockStory

January 22, 2025 at 04:06 AM EST

GNRC Cover Image

As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at renewable energy stocks, starting with Generac (NYSE: GNRC).

Renewable energy companies are buoyed by the secular trend of green energy that is upending traditional power generation. Those who innovate and evolve with this dynamic market can win share while those who continue to rely on legacy technologies can see diminishing demand, which includes headwinds from increasing regulation against “dirty” energy. Additionally, these companies are at the whim of economic cycles, as interest rates can impact the willingness to invest in renewable energy projects.

The 19 renewable energy stocks we track reported a slower Q3. As a group, revenues missed analysts’ consensus estimates by 7% while next quarter’s revenue guidance was 7.2% below.

In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.

Generac (NYSE: GNRC)

With its name deriving from a combination of “generating” and “AC”, Generac (NYSE: GNRC) offers generators and other power products for residential, industrial, and commercial use.

Generac reported revenues of $1.17 billion, up 9.6% year on year. This print exceeded analysts’ expectations by 1%. Overall, it was an exceptional quarter for the company with an impressive beat of analysts’ EBITDA estimates.

“Our third quarter results outperformed our expectations as elevated power outage activity drove increased shipments of our residential products and strong execution helped to deliver significant margin expansion,” said Aaron Jagdfeld, President and Chief Executive Officer.

The market was likely pricing in the results, and the stock is flat since reporting. It currently trades at $165.40.

Is now the time to buy Generac? Access our full analysis of the earnings results here, it’s free.

Best Q3: American Superconductor (NASDAQ: AMSC)

Founded in 1987, American Superconductor (NASDAQ: AMSC) has shifted from superconductor research to developing power systems, adapting to changing energy grid needs and naval technology requirements.

American Superconductor reported revenues of $54.47 million, up 60.2% year on year, outperforming analysts’ expectations by 6.1%. The business had an exceptional quarter with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

The market seems happy with the results as the stock is up 23.1% since reporting. It currently trades at $28.94.

Is now the time to buy American Superconductor? Access our full analysis of the earnings results here, it’s free.

Weakest Q3: Blink Charging (NASDAQ: BLNK)

One of the first EV charging companies to go public, Blink Charging (NASDAQ: BLNK) is a manufacturer, owner, operator, and provider of electric vehicle charging equipment and networked EV charging services.

Blink Charging reported revenues of $25.19 million, down 41.9% year on year, falling short of analysts’ expectations by 28.1%. It was a disappointing quarter as it posted full-year revenue guidance missing analysts’ expectations.

Blink Charging delivered the weakest full-year guidance update in the group. As expected, the stock is down 30.8% since the results and currently trades at $1.39.

Read our full analysis of Blink Charging’s results here.

TPI Composites (NASDAQ: TPIC)

Founded in 1968, TPI Composites (NASDAQ: TPIC) manufactures composite wind turbine blades and provides related precision molding and assembly systems.

TPI Composites reported revenues of $380.8 million, up 2.1% year on year. This print topped analysts’ expectations by 5.9%. More broadly, it was a mixed quarter as it also logged an impressive beat of analysts’ billings estimates but a significant miss of analysts’ adjusted operating income estimates.

The stock is down 46.2% since reporting and currently trades at $1.50.

Read our full, actionable report on TPI Composites here, it’s free.

Plug Power (NASDAQ: PLUG)

Powering forklifts for Walmart’s distribution centers, Plug Power (NASDAQ: PLUG) provides hydrogen fuel cells used to power electric motors.

Plug Power reported revenues of $173.7 million, down 12.6% year on year. This number missed analysts’ expectations by 17.3%. It was a disappointing quarter as it also produced a miss of analysts’ Power Purchase Agreements revenue estimates and full-year revenue guidance missing analysts’ expectations.

The stock is up 11.8% since reporting and currently trades at $2.22.

Read our full, actionable report on Plug Power here, it’s free.

Market Update

Thanks to the Fed's series of rate hikes in 2022 and 2023, inflation has cooled significantly from its post-pandemic highs, drawing closer to the 2% goal. This disinflation has occurred without severely impacting economic growth, suggesting the success of a soft landing. The stock market thrived in 2024, spurred by recent rate cuts (0.5% in September and 0.25% each in November and December), and a notable surge followed Donald Trump's presidential election win in November, propelling indices to historic highs. Nonetheless, the outlook for 2025 remains clouded by the pace and magnitude of future rate cuts as well as potential changes in trade policy and corporate taxes once the Trump administration takes over. The path forward is marked by uncertainty.

Want to invest in winners with rock-solid fundamentals? Check out our Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

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