Every material Form 8-K Generac filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
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.
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.
Generac reported second-quarter 2024 results with net sales of $998 million, roughly flat year over year, while diluted earnings per share rose to $0.97 from $0.70. The company raised its full-year 2024 net sales growth and adjusted EBITDA margin guidance, citing recent power outage activity including Hurricane Beryl. The filing also disclosed stockholder approval on June 13, 2024 of an amendment adding 3,900,000 shares to the 2019 Equity Incentive Plan.
Q2 net sales were $998 million versus $1.00 billion a year earlier; core sales were approximately flat.
Diluted EPS was $0.97 versus $0.70; adjusted EPS was $1.35 versus $1.08.
Adjusted EBITDA was $165 million, or 16.5% of net sales, versus $137 million, or 13.6%, a year earlier.
Full-year 2024 net sales growth guidance rose to 4% to 8% from 3% to 7%; adjusted EBITDA margin guidance rose to 17.0% to 18.0% from 16.5% to 17.5%.
Generac Holdings amended and replaced its term loan B credit facility on July 3, 2024, with a new facility carrying $500 million of outstanding principal after a $30 million cash payment at closing. The new loan matures July 3, 2031, and the amendment removes a credit spread adjustment tied to the LIBOR-to-SOFR benchmark transition. The filing describes a refinancing of existing debt terms rather than a change in operations.
Amended and replaced term loan B facility dated July 3, 2024, with JPMorgan Chase Bank, N.A. as administrative agent
Outstanding principal of $500 million on closing date, after a $30 million cash payment
New maturity date of July 3, 2031
Eliminated credit spread adjustment associated with LIBOR-to-SOFR transition
Generac reported first-quarter 2024 net sales of $889 million, nearly flat from $888 million a year earlier, with core sales down about 1%. Net income attributable to the company rose to $26 million, or $0.39 per diluted share, from $12 million, or $0.05, while adjusted EBITDA increased to $127 million. The company maintained its full-year 2024 net sales growth guidance of 3% to 7%.
Net income attributable to Generac was $26 million, or $0.39 per diluted share, versus $12 million, or $0.05, in Q1 2023.
Net sales were $889 million versus $888 million; core sales were down approximately 1%.
Adjusted EBITDA was $127 million, or 14.3% of net sales, versus $100 million, or 11.3%, a year earlier.
Full-year 2024 net sales growth guidance of 3% to 7% was maintained; net income margin is now expected at 6.0% to 7.0%.
Generac reported fourth-quarter 2023 net sales up 1% to $1.06 billion and diluted EPS of $1.57, versus $0.83 a year earlier. For full-year 2023, net sales fell 12% to $4.02 billion and diluted EPS fell to $3.27 from $5.42, and the company initiated 2024 guidance for net sales growth of about 3% to 7%, which it says would be a return to growth.
Q4 2023 net income was $97 million, or $1.57 per diluted share, versus $71 million, or $0.83, in Q4 2022.
Full-year 2023 net income was $215 million, or $3.27 per diluted share, versus $400 million, or $5.42, in 2022.
2024 guidance calls for net sales growth of about 3% to 7% and an adjusted EBITDA margin of about 16.5% to 17.5%.
Q4 free cash flow was a record $266 million, and the board approved a new buyback of up to $500 million over 24 months.
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.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Generac filing is on SEC EDGAR ↗. 8-K briefs of other companies →