Generac Holdings Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 14, 2024 at 04:30 pm IST
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Generac Holdings Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 1,063.67 million compared to USD 1,049.23 million a year ago. Net income was USD 96.6 million compared to USD 71.02 million a year ago. Basic earnings per share from continuing operations was USD 1.59 compared to USD 0.84 a year ago. Diluted earnings per share from continuing operations was USD 1.57 compared to USD 0.83 a year ago.
For the full year, the company reported sales was USD 4,022.67 million compared to USD 4,564.74 million a year ago. Net income was USD 214.61 million compared to USD 399.5 million a year ago. Basic earnings per share from continuing operations was USD 3.31 compared to USD 5.55 a year ago. Diluted earnings per share from continuing operations was USD 3.27 compared to USD 5.42 a year ago.
Generac Holdings, Inc. specializes in the design, manufacture and marketing of primary and backup power generation solutions for the residential, commercial and industrial sectors. The group's products include generators, energy storage devices, electricity control systems, electrical equipment, etc. Net sales break down by family of products as follows:
- equipment for the residential sector (63.8%): backup, portable and motorized generators powered by natural gas, propane or fuel, switches, etc.;
- equipment for the industrial and commercial sectors (27.6%): stationary, containerized, industrial and backup generators fueled by natural gas, propane, fuel, etc., advanced systems and energy control software platforms, switches, modular power systems, etc.;
- other (8.6%).
The United States account for 84.7% of net sales.
GENERAC HOLDINGS, INC. 
