Generac Q3 net sales down 2% to $1.07B; adjusted EBITDA margin improves to 17.6%; FY outlook maintained

GENERAC HOLDINGS INC.

2023-Q3 EPS reported $1.72 revenue$2,958,997,000

Q3 net sales $1.07B (-2% YoY); adjusted EPS $1.64 vs $1.75 prior year.
Residential sales fell 15% to $565M; C&I sales rose 24% to $385M.
Gross margin expanded to 35.1% from 33.2%; free cash flow $117M vs -$73M YoY.
FY2023 net sales guidance -10 to -12%; adj. EBITDA margin 15.5-16.5%; net income margin lowered to 5-6%.
Repurchased 875,580 shares for $100M in Q3; $178M remaining under buyback program.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GENERAC HOLDINGS INC. reported third quarter ended September 30, 2023 results: revenue $1.07 billion, net income $60 million, or $0.97 per share, EPS $0.97 per share. Guidance reaffirmed.

Period: third quarter ended September 30, 2023
Revenue: $1.07 billion
Net income: $60 million, or $0.97 per share
EPS: $0.97 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

results for its third quarter ended September 30, 2023 and provided an update on its outlook for the full year 2023. Third Quarter 2023 Highlights ● Net sales decreased 2% to $1.07 billion during the third quarter of 2023 as compared to $1.09 billion in the prior-year third quarter. Core sales growth, which excludes both the impact of acquisitions and foreign

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Source: SEC EDGAR

accession 0001437749-23-029637

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