Generac Holdings ( (GNRC) ) has released its Q4 earnings. Here is a breakdown of the information Generac Holdings presented to its investors.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Generac Holdings Inc., a global leader in energy technology solutions and power products, announced their financial results for the fourth quarter and full-year 2024, highlighting strong sales growth and record free cash flow. The company’s robust performance in 2024 was driven by significant demand for residential products, particularly home standby and portable generators, amidst elevated outage activities. Generac reported a 16% increase in fourth-quarter net sales to $1.23 billion, with residential product sales surging by 28%. The company’s adjusted net income for the quarter reached a record $168 million, marking a notable increase from the previous year. For the full year, Generac’s net sales rose by 7% to $4.3 billion, driven by an 18% growth in residential product sales, although commercial and industrial product sales saw a decline. The company’s adjusted EBITDA also saw a significant rise to $789 million, underscoring improved profitability. Looking ahead to 2025, Generac anticipates continued net sales growth of 3% to 7%, primarily fueled by residential product sales, despite a flat outlook for commercial and industrial product sales. The company remains optimistic about its strategic investments positioning it for sustained success in delivering innovative energy solutions.
