Generac Holdings Inc. designs, manufactures, and markets power generation equipment and other engine powered products for the residential, light commercial, industrial, oil and gas, and construction markets in the United States, Canada, and internationally. It offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel. The company provides residential automatic standby generators ranging in output from 6kW to 60kW; air-cooled engine residential standby generators ranging from 6kW to 20kW; and liquid-cooled engine generators with outputs ranging from 22kW to 60kW, as well as industrial diesel generators ranging in ...
S45 W29290 Highway 59
Waukesha, WI 53189
Founded in 1959
Generac Holdings Inc. Presents at Stifel 2016 Industrials Conference, Jun-13-2016 03:00 PM
Jun 10 16
Generac Holdings Inc. Presents at Stifel 2016 Industrials Conference, Jun-13-2016 03:00 PM. Venue: The New York Palace Hotel, 455 Madison Avenue, New York, NY 10022, United States.
Generac Holdings Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2016; Reaffirms Consolidated Earnings Guidance for 2016
May 4 16
Generac Holdings Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2016. For the quarter, net sales were $286,535,000 against $311,818,000 a year ago. Income from operations was $26,964,000 against $44,911,000 a year ago. Income before provision for income taxes was $15,931,000 against $30,703,000 a year ago. Net income attributable to Generac Holdings Inc. was $10,208,000 or $0.15 per basic and diluted share against $19,685,000 or $0.28 per diluted share a year ago. Net cash provided by operating activities was $22,151,000 against $25,257,000 a year ago. Expenditures for property and equipment were $7,093,000 against $6,528,000 a year ago. Adjusted EBITDA attributable to Generac Holdings Inc. was $49,125,000 against $57,138,000 a year ago. Adjusted net income attributable to Generac Holdings Inc. was $30,887,000 or $0.46 per diluted share against $34,119,000 or $0.49 per diluted share a year ago. Net debt was $1.02 million.
The company is maintaining its prior guidance for the full-year 2016 in terms of revenue growth, adjusted EBITDA margins and cash flows. Net sales are still expected to increase between 10% to 12% as compared to the prior year. Total organic sales on a constant currency basis are still anticipated to be down between 5% to 7%, with nearly all of the decline expected to be from ongoing weakness in mobile product shipments into the oil & gas and general rental markets. This top-line guidance assumes no material changes in the current macroeconomic environment and also assumes no improvement in power outage severity for the remainder of the year relative to the very low levels experienced during 2015. Adjusted EBITDA margins are still expected to be approximately 20.0% for the full-year 2016, and free cash flow generation is expected to be strong, with the conversion of adjusted net income anticipated to be over 90%. The company anticipates cash income tax rate of approximately 9% for the full year ended 2016. Gross margins, excluding the $2.7 million of nonrecurring charges recorded during the first quarter, are expected to improve by approximately 125 basis points as compared to the prior year. Interest expense to be in the range of $46 million to $47 million. Cash income tax rate of approximately 9%. Depreciation expense to be between $21 million and $21.5 million. GAAP intangible amortization expense to be between $33 million and $33.5 million. Capital expenditures to be approximately $35 million to $36 million.