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Dec 31, 2021
Generac Q4 2021 Earnings Report
Generac's Q4 2021 results were driven by continued significant end market demand and strong execution, resulting in record shipments and revenue growth.
Key Takeaways
Generac reported record fourth-quarter results, with net sales increasing 40% to $1.07 billion. The company's performance was driven by strong demand across residential and commercial & industrial products, along with strategic acquisitions.
Net sales increased 40% to a record $1.07 billion compared to the prior-year fourth quarter.
Residential product sales grew 42% to $706 million compared to last year.
Commercial & Industrial product sales increased 43% to $284 million compared to the prior year.
Adjusted EBITDA was a record $220 million, or 20.7% of net sales, as compared to $196 million, or 25.7% of net sales, in the prior year.
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 initiating guidance for 2022 that anticipates another year of exceptional revenue growth as compared to the prior year.
Positive Outlook
- Ramping home standby production capacity throughout the year
- Significant growth in clean energy markets
- Strong broad-based global demand for C&I products
- Recent acquisitions
- Net sales are expected to increase between 32 to 36% as compared to the prior year on an as-reported basis
Challenges Ahead
- Net income margin, before deducting for non-controlling interests, is expected to be approximately 13.0 to 14.0% for the full-year 2022
- Impact of acquisitions
- Impact of foreign currency
- Supply chain challenges
- Overall inflationary environment leading to higher input costs
Revenue & Expenses
Visualization of income flow from segment revenue to net income