Generac Q3 sales $1.17B (+10% YoY); residential up 28%; raises FY24 guidance on outage activity

GENERAC HOLDINGS INC.

2024-Q3 EPS reported $3.25 revenue$3,061,033,000

Net sales $1.17B, up 10% YoY; residential segment surged 28% to $723M, driven by home standby and portable generators.
GAAP net income $114M ($1.89 EPS); adjusted net income $136M ($2.25 EPS), up from $1.64 prior year.
Adjusted EBITDA $232M (19.8% margin vs 17.6% prior year); free cash flow $184M, up from $117M.
Raised FY24 guidance: net sales growth 5-9% (prev. 4-8%), adj. EBITDA margin 17.5-18.5% (prev. 17-18%).
Repurchased 690,711 shares for $102M in Q3; $347M remaining under buyback program.

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