Generac Q2 net sales down 23% YoY; cuts FY2023 outlook as residential weakens

GENERAC HOLDINGS INC.

2023-Q2 EPS reported $0.75 revenue$1,888,330,000

Net sales $1.00B (-23% YoY); residential sales $499M (-44%), C&I $384M (+24%).
GAAP EPS $0.70 vs $2.21; adjusted EPS $1.08 vs $2.86; net income $45M vs $156M.
Adjusted EBITDA $137M (13.6% margin) vs $271M (21.0%) in prior year quarter.
FY2023 outlook reduced: net sales decline -10% to -12% (prior -6% to -10%); EBITDA margin 15.5-16.5% (prior 17-18%).
Free cash flow $54M vs $6M; working capital improvement partially offsets lower earnings.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.85

GENERAC HOLDINGS INC. reported second quarter ended June 30, 2023 results: revenue $1.00 billion, net income $45 million, or $0.70 per share, EPS $0.70 per share. Guidance lowered.

Period: second quarter ended June 30, 2023
Revenue: $1.00 billion
Net income: $45 million, or $0.70 per share
EPS: $0.70 per share
Guidance: lowered
Result: reported results

Exact text from the filing

results for its second quarter ended June 30, 2023 and provided an update on its outlook for the full year 2023. Second Quarter 2023 Highlights ● Net sales decreased 23% to $1.00 billion during the second quarter of 2023 as compared to $1.29 billion in the prior-year second quarter. Core sales growth, which excludes both the impact of acquisitions and foreign

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Source: SEC EDGAR

accession 0001437749-23-021513

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