CEO Garrick Rochow blamed political “spin” for permitting setbacks during an earnings call. He did not address the more than $300 million the utility says it has spent keeping an aging coal plant running under DOE “emergency” orders.
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Original headline: CMS Energy CEO predicts data center ‘progress’ after midterms
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Generac's third-quarter net sales rose 16% year over year to a record $1.29 billion, while adjusted EBITDA increased 33% to $256 million, driven by data-center demand in its commercial and industrial business and a recovery in residential generator sales. A long-term Amazon agreement includes expected deliveries of $2.4 billion across 2027 and 2028, helping drive the data-center backlog to approximately $4.5 billion. Management expects 2027 data-center revenue to well exceed $2 billion and raised its adjusted EBITDA margin outlook to 20.5%–21%. Generac is expanding large-megawatt generator capacity, targeting roughly $4 billion in annual data-center-related capacity by the second half of 2027.
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Generac (GNRC) reported third-quarter 2026 adjusted EPS of $2.54, beating the Zacks Consensus Estimate of $2.38 by 6.7% and up 38.8% from the prior year. Net sales rose 16% to $1.29 billion but missed the consensus estimate of $1.31 billion. Commercial & Industrial (C&I) revenues climbed about 28% to $553 million on data center demand, and the data center backlog grew significantly to nearly $4.5 billion. Generac signed a long-term supply agreement with Amazon (AMZN) for backup power generators for Amazon data centers, with initial deliveries expected to total $2.4 billion in 2027 and 2028. Residential revenues rose about 9% to $744.1 million, and the company reaffirmed its 2026 net sales growth outlook in the mid-to-high teens range while raising the lower end of its adjusted EBITDA margin guidance to 20.5–21%.
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