Generac Q2 2022 Earnings Report
Key Takeaways
Generac Holdings Inc. reported record second-quarter results, with net sales increasing by 40% to $1.29 billion. The company experienced significant sequential margin improvement and is maintaining its full-year 2022 net sales growth guidance of approximately 36 to 40%.
Net sales increased 40% to a record $1.29 billion compared to the prior-year second quarter.
Residential product sales grew 49% to $896 million, while Commercial & Industrial product sales increased 22% to $309 million.
Net income attributable to the company was $156 million, or $2.21 per share, compared to $127 million, or $2.01 per share, for the same period of 2021.
Adjusted EBITDA was a record $271 million, or 21.0% of net sales, compared to $218 million, or 23.7% of net sales, in the prior year.
Generac
Generac
Generac Revenue by Segment
Generac Revenue by Geographic Location
Forward Guidance
The Company is maintaining its full-year 2022 net sales growth guidance range of approximately 36 to 40% compared to the prior year. The corresponding adjusted EBITDA margin is still expected to be approximately 21.5 to 22.5%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income