Generac Q3 net sales up 15% to $1.09B but net income drops 56% on $55.3M charges

GENERAC HOLDINGS INC.

2022-Q3 EPS reported $4.61 revenue$3,515,505,000

Net income $58M ($0.83/sh) vs $132M ($1.93/sh); includes $55.3M charges for clean energy customer bankruptcy and warranty.
Adjusted EBITDA margin fell to 16.9% from 22.2%; free cash flow turned negative at $(73.5)M vs $42.1M.
Full-year 2022 guidance: net sales growth ~22-24%, adjusted EBITDA margin ~18-19%, net income margin ~9-10%.
Residential sales growth slowed to 9% due to channel inventory constraints; C&I sales grew 20%.
Board authorized new $500M stock repurchase program over 24 months; Q3 repurchases $123.9M exhausted prior program.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GENERAC HOLDINGS INC. reported the third quarter ended September 30, 2022 results: revenue $1.09 billion, net income $58 million, EPS $0.83 per share.

Period: the third quarter ended September 30, 2022
Revenue: $1.09 billion
Net income: $58 million
EPS: $0.83 per share
Result: reported results

Exact text from the filing

Net sales increased 15% to $1.09 billion during the third quarter of 2022 as compared to $943 million in the prior-year third quarter.

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Source: SEC EDGAR

accession 0001437749-22-025447

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