Generac reports mixed Q3 results; reaffirms FY26 outlook

• Generac press release (GNRC): Q3 Non-GAAP EPS of $2.54 beats by $0.11.
• Revenue of $1.29B (+16.2% Y/Y) misses by $30M.
• Commercial & Industrial (“C&I”) segment external net sales increased approximately 28% to $552 million as compared to $432 million in the prior year.
• Residential segment external net sales increased approximately 9% to $743 million as compared to $682 million in the prior year.
• Adjusted EBITDA before deducting for noncontrolling interests, as defined in the accompanying reconciliation schedules, was $256 million, or 19.8% of net sales, as compared to $193 million, or 17.3% of net sales, in the prior year.
• Cash flow from operations was $171 million as compared to $118 million in the prior year. Free cash flow, as defined in the accompanying reconciliation schedules, was $132 million as compared to $96 million in the third quarter of 2025.
• The Company is maintaining its full-year 2026 net sales growth guidance in the mid-to-high teens percent range as compared to the prior year (vs. estimated growth of 17.16% Y/Y). Full-year 2026 adjusted EBITDA margin, before deducting for non-controlling interests, is now expected to be approximately 20.5 to 21.0% as compared to the previous guidance range of 20.0 to 21.0%.

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