Aaron Jagdfeld, President and Chief Executive Officer, said “We initiated our Powering Ahead strategic plan in 2010 that focused on growing the residential standby market, increasing our share of the commercial and industrial market, diversifying our demand, and expanding into new geographies. As a result of our team’s efforts, we have consistently exceeded our own performance goals associated with Powering Ahead and in fact reached many of those targets a year earlier than we had originally planned. We are currently resetting our goals for the next three years and we intend to share those updated growth rates in the near future when we finalize our long-term strategic plan.”Since implementing the Powering Ahead plan in 2010, Generac’s net sales in 2011 increased 34% compared to 2010 and are projected to increase in the low-30% range for 2012 compared to 2011. This revenue growth represents an acceleration relative to Generac’s 10-year annual sales growth rate of approximately 21% projected through 2012. Likewise, adjusted EBITDA in 2011 increased 21% compared to 2010 and is projected to increase in the mid-30% range for 2012 compared to 2011. During 2011, the Company generated $182 million of unlevered free cash flow, and is expected to generate approximately $200 million of unlevered free cash flow in 2012. This strong cash flow generation has allowed the Company to fund all of its internal growth initiatives and execute on other key elements of its financial policy including debt paydown and making acquisitions.
Generac Provides Update On Third Quarter 2012 Results And Raises Outlook For Full-Year 2012
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