[CITIC Auto] Generac Q2 Results: North American Diesel Generator AIDC Orders Growing Exponentially, Continuously Beating Expectations

English summary

#Generac data center orders are growing exponentially, doubling every two months. To date, the company's cumulative data center orders have reached [$1.6] billion (Feb 12: $400 million; Apr 29: $700 million), an increase of approximately $1 billion from the last update, [and this does not yet include commitment volumes from a second hyperscaler customer]. Currently, the company's delivered product unit price is $1.0-1.5 million, so cumulative orders correspond to [1,050-1,600 units]. The company has signed agreements with two Hyperscalers. Customer A has already secured nearly $700 million in 2027 procurement (already reflected in cumulative orders), and Customer B also signed a global supply agreement in June (confirmed supply, but not yet reflected in current orders), leaving room for further upside! #26Q2 large-bore units drive growth, guidance raised again. In 26Q2, revenue was $1.174 billion, +11% YoY, with C&I business revenue of $557 million (+29% YoY), residential business of $617 million (-2% YoY); ...