Generac Holdings Inc (NYSE:GNRC) shares are soaring in extended trading Thursday after the company announced a supply agreement with Amazon.com Inc (NASDAQ:AMZN) for data center backup generators.
- Generac Holdings stock is charging ahead with explosive momentum. Why is GNRC stock up today?
Generac Inks Supply Deal With Amazon
Generac and Amazon entered into a long-term supply agreement for up to $8 billion of backup power generators for Amazon data centers. Initial generator deliveries are expected to total $2.4 billion in 2027 and 2028.
The companies also entered into a transaction agreement for which Generac issues Amazon a warrant to acquire up to approximately 1.69 million shares of common stock at an exercise price of approximately $200.93.
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GNRC Shares Surge After Hours
Generac shares were up 37.51% in after-hours, trading at $240.80 at the time of publication on Thursday, according to Benzinga Pro.
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