Generac Holdings Inc.


SKU: GNRC Category:


This is our first report on a renowned energy technology player, Generac Holdings. The company’s fourth quarter results were a mixed bag as the company failed to meet the revenue expectations of Wall Street despite showing ongoing growth in its commercial and industrial product categories. Its weaker residential product sales caused consolidated net sales to fall at the low end of its previous target range but the company did manage to deliver an earnings beat. Higher home standby field inventory levels specifically continued to impact orders and shipments in Q4, and shipments of clean energy products were lower as they worked to increase the dependability of these products and broaden their distribution capabilities. Sales of C&I products climbed significantly, with strong core sales growth across all domestic channels and all overseas areas. Moreover, their grid services team announced a number of new project wins and had a good year across several crucial operational KPIs. Also, the megatrends that propel its long-term growth trajectory became even clearer. Home consultations were more than three times higher than in 2019. They further announced the addition of home standby monitoring features to the ecobee platform, enabling homeowners to monitor the fuel levels of their propane tanks and home standby generators and receive alerts on the ecobee platform. We initiate coverage on the stock of Generac Holdings Inc. with a ‘Hold’ rating.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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