Generac Holdings Inc., a Waukesha-based designer and manufacturer of generators and other engine powered products, today announced it expects strong financial results for the third quarter of 2012, and as a result is raising its outlook for full-year 2012.
During the third quarter, the company has experienced increased demand for home standby and portable generators as a result of the recent major power outage events as well as expanded marketing and sales initiatives to increase home standby penetration. As a result of the increased demand, net sales during the third quarter of 2012 are expected to be in the range of $295.0 million to $300.0 million. Generac’s net income is expected to be between $21.5 million and $25.0 million, with diluted net income per common share of 31 to 36 cents. Adjusted net income is expected to be between $49.5 million and $53.0 million, with adjusted diluted net income per common share of 72 to 77 cents. Adjusted EBITDA is expected to be in the range of $72.0 million to $75.0 million.
Aaron Jagdfeld, president and chief executive officer of Generac, 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.”
