Generac sees FY25 revenue growth 3%-7% vs. FY24

FY25 consensus $4.63B. The company is initiating guidance for full-year 2025 that anticipates continued net sales growth as compared to the prior year. This is expected to be driven primarily by residential product sales growth in the mid-to-high single digit range, primarily led by shipments of home standby generators and residential energy technology solutions. C&I product sales are expected to be approximately flat as compared to the prior year. As a result of these factors, full-year net sales are expected to increase between 3%-7% as compared to the prior year, which includes a slight unfavorable impact from the net effect of foreign currency and completed acquisitions. Additionally, the company expects net income margin, before deducting for non-controlling interests, to be approximately 8.0%-9.0% for the full-year 2025. The corresponding adjusted EBITDA margin is expected to be approximately 18.0%-19.0%. The company expects to generate strong levels of operating and free cash flow for the full year, with free cash flow conversion from adjusted net income between 80 to 90%.