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Generac Provides Update On Third Quarter 2012 Results And Raises Outlook For Full-Year 2012

Generac Holdings Inc. (NYSE: GNRC), a leading designer and manufacturer of generators and other engine powered products, today announced that it expects strong financial results for the third quarter of 2012, and as a result is raising its outlook for full-year 2012.

During the third quarter of 2012, the Company has experienced increased demand for home standby and portable generators as a result of the recent major power outage events as well as expanded marketing and sales initiatives to increase home standby penetration. As a result of the increased demand, net sales during the third quarter of 2012 are expected to be in the range of $295.0 to $300.0 million. Net income is expected to be between $21.5 to $25.0 million, with diluted net income per common share of $0.31 to $0.36. Adjusted net income is expected to be between $49.5 to $53.0 million, with adjusted diluted net income per common share of $0.72 to $0.77. Adjusted EBITDA is expected to be in the range of $72.0 to $75.0 million.

Due to this outperformance for residential product sales, full-year 2012 total net sales are now expected to increase in the low-30% range over the prior year, which represents an increase from the low-20% range growth rate previously expected. As a result of this higher sales outlook, adjusted EBITDA for the full-year 2012 is now expected to increase in the mid-30% range over the prior year, which is an increase from the mid-teens growth rate previously expected. Diluted net income per common share for 2012 is expected to be in the range of $1.02 to $1.08, with adjusted diluted net income per common share of $2.65 to $2.70. This updated guidance continues to assume no material changes in the macroeconomic environment, as well as no additional major power outage events during the remainder of 2012.

Stock quotes in this article: GNRC 

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