Generac raises 2024 sales outlook as Q3 net sales rise 10% to $1.17 billion
Generac reported third-quarter 2024 net income of $114 million, or $1.89 per diluted share, up from $60 million, or $0.97 per share, a year earlier, on net sales of $1.17 billion. The company raised its full-year 2024 net sales growth guidance to 5% to 9% from 4% to 8%, and its adjusted EBITDA margin guidance to 17.5% to 18.5% from 17.0% to 18.0%, citing higher power outage activity including Hurricane Helene and Hurricane Milton.
Key points
- Net sales were $1.17 billion, up about 10% from $1.07 billion; residential product sales rose about 28% to $723 million while commercial & industrial sales fell about 15% to $328 million.
- Adjusted net income was $136 million, or $2.25 per share, compared with $102 million, or $1.64 per share, in the third quarter of 2023.
- Full-year 2024 net sales growth guidance was raised to 5% to 9% from 4% to 8%, and adjusted EBITDA margin guidance was raised to 17.5% to 18.5% from 17.0% to 18.0%.
- The company repurchased 690,711 shares for approximately $102 million in the quarter, with about $347 million remaining under its repurchase program as of September 30, 2024.
The filing
Written by AI on Nov 8, 2026, 12:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 31, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.