WASHINGTON (dpa-AFX) - Generac Holdings Inc. (GNRC), a designer and manufacturer of energy technology solutions, on Wednesday reported higher net income in the second quarter compared with the previous year.
For the second quarter, net income attributable to the company increased to $143.24 million from $74.02 million in the previous year.
Earnings per share were $2.44 versus $1.27 last year.
On an adjusted basis, net income attributable to the company increased to $173.64 million from $97.33 million in the previous year.
Adjusted earnings per share were $2.91 versus $1.65 last year.
Income from operations jumped to $210.43 million from $111.79 million in the previous year.
Net sales increased to $1.17 billion from $1.06 billion in the previous year.
Looking ahead, the company continues to expect Full Year 2026 net sales growth in the mid-to-high teens percentage range from the prior year.
C&I segment sales are now projected to grow in the low-30% range, while Residential segment sales are expected to increase in the high-single-digit range.
The company also raised its Full Year 2026 net income margin guidance to 9%-10% from the previous 8%-9%.
Adjusted EBITDA margin guidance to 20%-21% from 18.5%-19.5%, primarily reflecting the tariff refund recognized in the second quarter, which is expected to contribute about 1.5% to full-year results.
In the pre-market trading, Generac Holdings is 2.35% higher at $200 on the New York Stock Exchange.
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