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Sep 30, 2021
Generac Q3 2021 Earnings Report
Generac experienced exceptional demand, driving record quarterly revenue and increasing backlog.
Key Takeaways
Generac reported a record revenue of $943 million, a 34% increase compared to the prior-year quarter. Net income was $132 million, or $1.93 per share, compared to $115 million, or $1.82 per share, for the same period in 2020.
Net sales increased 34% to a record $943 million.
Residential product sales grew 33% to $609 million.
Commercial & Industrial product sales increased 47% to $258 million.
Net income attributable to the Company during the third quarter was $132 million, or $1.93 per share.
Generac
Generac
Generac Revenue by Segment
Generac Revenue by Geographic Location
Revenue by Segment
Residential Products Revenue
CapyFin.comCommercial & Industrial Products Revenue
CapyFin.comRevenue by Geographic Location
Domestic Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
The Company is maintaining its full-year 2021 net sales growth guidance range of approximately 47 to 50% compared to the prior year.
Challenges Ahead
- Additional supply chain constraints
- Escalating logistics challenges
- Rising input costs are increasingly impacting the business leading to further margin pressures
- Net income margin, before deducting for non-controlling interests, is now expected to be approximately 15.0% for the full-year 2021 as compared to the prior expectation of between 15.5 to 16.0%.
- Adjusted EBITDA margin is now expected to be approximately 23.5%, as compared to the previous guidance range of approximately 24.5 to 25.0%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income