Generac Holdings (GNRC) Tops Q3 EPS by 30c; raises guidance

Generac Holdings (NYSE: GNRC) reported Q3 EPS of $2.25, $0.30 better than the analyst estimate of $1.95. Revenue for the quarter came in at $1.17 billion versus the consensus estimate of $1.16 billion.

Outlook: "As a result of higher than previously expected power outage activity, including the impact of Hurricane Helene and Hurricane Milton, the Company is increasing its full-year 2024 net sales guidance. The Company now expects full-year 2024 net sales growth between 5 to 9% as compared to the prior year, an increase from the previous outlook of 4 to 8%. By product class, this updated net sales guidance considers an outsized increase in Residential product sales, partially offset by softer market conditions for C&I and Other product sales in certain end markets and geographies.

Additionally, the Company now expects net income margin, before deducting for non-controlling interests, to be approximately 7.0 to 8.0% for the full-year 2024 as compared to the prior expectation of 6.5 to 7.5%. The corresponding adjusted EBITDA margin is now expected to be approximately 17.5 to 18.5% as compared to the previous guidance range of 17.0 to 18.0%.

The Company continues to expect strong operating and free cash flow generation for the full year, with free cash flow conversion from adjusted net income well above 100%."

For earnings history and earnings-related data on Generac Holdings (GNRC) click here.

You May Also Be Interested In

• Generac Holdings (GNRC) PT Raised to $335 at UBS on durability and visibility of earnings trajectory
• Starbucks designates Val Bauduin as principal accounting officer
• Ticketplus files for IPO with shares priced between $13-$15