GENERAC HOLDINGS INC

For the period ended Jun 30, 2024. Filed Aug 6, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Aug 6, 2024

GNRC$176.78+2.6%Stored close · as of Nov 6, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 1. Financial Statements

PART II. OTHER INFORMATION
	Condensed Consolidated Balance Sheets as of June 30, 2024, and December 31, 2023	1
	Condensed Consolidated Statements of Comprehensive Income for the Three and Six Months Ended June 30, 2024 and 2023	2
	Condensed Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended June 30, 2024 and 2023	3
	Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023	4
	Notes to Condensed Consolidated Financial Statements	5
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	17
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	28
Item 4.	Controls and Procedures	28
Item 1.	Legal Proceedings	28
Item 1A.	Risk Factors	28
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	29
Item 3.	Defaults Upon Senior Securities	29
Item 4.	Mine Safety Disclosures	29
Item 5.	Other Information	29
Item 6.	Exhibits	29
	Signatures	30

PART I. FINANCIAL INFORMATION

Generac Holdings Inc.

Condensed Consolidated Balance Sheets

(U.S. Dollars in Thousands, Except Share and Per Share Data)

(Unaudited)

	June 30,	December 31,
	2024	2023
Assets
Current assets:
Cash and cash equivalents	$218,317	$200,994
Accounts receivable, less allowance for credit losses of $34,546 and $33,925 at June 30, 2024 and December 31, 2023, respectively	610,322	537,316
Inventories	1,152,133	1,167,484
Prepaid expenses and other current assets	74,886	91,898
Total current assets	2,055,658	1,997,692
Property and equipment, net	622,947	598,577
Customer lists, net	167,240	184,513
Patents and technology, net	398,452	417,441
Other intangible assets, net	21,963	27,127
Tradenames, net	211,406	216,995
Goodwill	1,432,933	1,432,384
Deferred income taxes	17,401	15,532
Operating lease and other assets	190,566	203,051
Total assets	$5,118,566	$5,093,312
Liabilities and stockholders’ equity
Current liabilities:
Short-term borrowings	$66,407	$81,769
Accounts payable	406,296	340,719
Accrued wages and employee benefits	61,433	54,970
Accrued product warranty	58,743	65,298
Other accrued liabilities	269,250	292,120
Current portion of long-term borrowings and finance lease obligations	50,428	45,895
Total current liabilities	912,557	880,771
Long-term borrowings and finance lease obligations	1,444,696	1,447,553
Deferred income taxes	70,889	90,012
Deferred revenue	176,020	167,008
Operating lease and other long-term liabilities	141,885	158,349
Total liabilities	2,746,047	2,743,693
Redeemable noncontrolling interests	–	6,549
Stockholders’ equity:
Common stock, par value $0.01, 500,000,000 shares authorized, 73,608,578 and 73,195,055 shares issued at June 30, 2024 and December 31, 2023, respectively	736	733
Additional paid-in capital	1,101,074	1,070,386
Treasury stock, at cost, 13,446,797 and 13,057,298 shares at June 30, 2024 and December 31, 2023, respectively	(1,088,426)	(1,032,921)
Excess purchase price over predecessor basis	(202,116)	(202,116)
Retained earnings	2,601,974	2,519,313
Accumulated other comprehensive loss	(43,529)	(15,143)
Stockholders’ equity attributable to Generac Holdings Inc.	2,369,713	2,340,252
Noncontrolling interests	2,806	2,818
Total stockholders' equity	2,372,519	2,343,070
Total liabilities and stockholders’ equity	$5,118,566	$5,093,312

See notes to condensed consolidated financial statements.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.