Q4 2024 Generac Holdings Inc Earnings Call Transcript
Key Points
- Generac Holdings Inc (GNRC) reported a 16% year-over-year increase in net sales for the fourth quarter, reaching $1.23 billion.
- Residential product sales grew by 28%, driven by strong demand for home standby and portable generators.
- The company achieved record free cash flow generation of $605 million for the year, surpassing previous records.
- Generac Holdings Inc (GNRC) expanded its residential dealer network to an all-time high of approximately 9,200 dealers.
- The company introduced a next-generation lineup of home standby generators, featuring advanced technologies and improved connectivity.
- Commercial and industrial (C&I) product sales were flat year-over-year, with weakness in certain end markets offsetting growth in others.
- The rental equipment market continued to decline, impacting sales in this segment.
- International sales decreased by 13% for the full year, with softness in Europe contributing to the decline.
- The company faces potential impacts from new tariff-related actions, which could affect costs and pricing strategies.
- Close rates for home standby generators moderated due to the rapid increase in demand, impacting sales conversion.
Hello, and welcome to Generac Holdings Inc. fourth quarter and full year 2024 earnings conference call. (Operator Instructions) I would now like to turn the conference over to Kris Rosemann. You may begin.
Good morning, and welcome to our fourth quarter and full year 2024 earnings call. I'd like to thank everyone for joining us this morning. With me today is Aaron Jagdfeld, President and Chief Executive Officer; and York Ragen, Chief Financial Officer.
We will begin our call today by commenting on forward-looking statements. Certain statements made during this presentation as well as other information provided from time to time by Generac or its employees may contain forward-looking statements and involve risks and uncertainties that could cause actual results to differ materially from those in these forward-looking statements. Please see our earnings release or SEC filings for a list of words or expressions that identify such statements and the associated risk factors
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
