Generac Q1 net sales flat at $889M; adjusted EPS up 36% to $0.88, guidance maintained

GENERAC HOLDINGS INC.

2024-Q1 EPS reported $0.39 revenue$889,273,000

Net sales $889M (flat YoY); core sales down ~1%. Residential +2%, C&I -2%.
Adjusted net income $53M ($0.88 EPS) vs $39M ($0.63 EPS) YoY; net income $26M ($0.39 EPS).
Adjusted EBITDA $127M (14.3% of sales) vs $100M (11.3%); free cash flow $85M vs ($42M).
Domestic segment sales flat at $720.5M; margin improved to 13.8% from 9.4%.
FY2024 guidance: net sales growth 3-7%, adj. EBITDA margin 16.5-17.5%, FCF conversion ~100%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GENERAC HOLDINGS INC. reported first quarter ended March 31, 2024 results: revenue $889 million, net income $26 million, EPS $0.39 per share. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: $889 million
Net income: $26 million
EPS: $0.39 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Net sales increased to $889 million during the first quarter of 2024 as compared to $888 million in the prior-year first quarter. Core sales, which excludes both the impact of acquisitions and foreign currency, was down approximately 1% from the prior year period. - Residential product sales increased approximately 2% to $429 million as compared to $419 million last year. - Commercial & Industrial (“C&I”) product sales decreased approximately 2% to $354 million as compared to $363 million in the prior year. ● Net income attributable to the Company during the first quarter was $26 million, or $0.39 per share, as compared to $12 million, or $0.05 per share, for the same period of 2023.

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Source: SEC EDGAR

accession 0001437749-24-014044

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