Generac Holdings Inc. (NYSE:GNRC) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 8.75%.
Generac Holdings Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 26.04% to $1.21 in the quarter versus EPS of $0.96 in the year-earlier quarter.
Revenue: Rose 35.66% to $399.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Generac Holdings Inc. reported adjusted EPS income of $1.21 per share. By that measure, the company beat the mean analyst estimate of $0.96. It beat the average revenue estimate of $365.83 million.
Quoting Management: “We have started 2013 with yet another record quarter in revenues and earnings,” said Aaron Jagdfeld, President and CEO at Generac. “Organic revenue growth continues to be very strong and broad based across all major regions of the United States as the market for standby generators continues to expand with more homeowners and businesses becoming aware of the importance of having a backup power solution. We believe the significant growth that we delivered during the quarter has further elevated the Generac brand as being the household name in backup power. Additionally, we took the initial steps in accelerating our Latin American expansion efforts with the first full quarter of the Ottomotores acquisition and we’re excited about the opportunity to execute on the potential revenue and cost synergies of the combined companies.”
Key Stats (on next page)…