Skip to main content
Midas Edge

GENERAC HOLDINGS INC

For the period ended Sep 30, 2024. Filed Nov 5, 2024.

View on SEC.gov

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.

Sep 30, 2024 · Filed Nov 5, 2024

GNRC$188.75+6.8%Stored close · as of Nov 9, 2026

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

See the whole filing, with its images and exhibits
Contents

Item 1. Financial Statements

Condensed Consolidated Balance Sheets as of September 30, 2024, and December 31, 20231
Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 30, 2024 and 20232
Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended September 30, 2024 and 20233
Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 20234
Notes to Condensed Consolidated Financial Statements5
Item 2.Management's Discussion and Analysis of Financial Condition and Results of Operations17
Item 3.Quantitative and Qualitative Disclosures About Market Risk28
Item 4.Controls and Procedures28
PART II. OTHER INFORMATION
Item 1.Legal Proceedings28
Item 1A.Risk Factors28
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds29
Item 3.Defaults Upon Senior Securities29
Item 4.Mine Safety Disclosures29
Item 5.Other Information29
Item 6.Exhibits29
Signatures30

PART I. FINANCIAL INFORMATION

Generac Holdings Inc.

Condensed Consolidated Balance Sheets

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

(Unaudited)

September 30,December 31,
20242023
Assets
Current assets:
Cash and cash equivalents$214,177$200,994
Accounts receivable, less allowance for credit losses of $34,489 and $33,925 at September 30, 2024 and December 31, 2023, respectively658,649537,316
Inventories1,095,7581,167,484
Prepaid expenses and other current assets104,79191,898
Total current assets2,073,3751,997,692
Property and equipment, net639,733598,577
Customer lists, net166,016184,513
Patents and technology, net391,841417,441
Other intangible assets, net21,41927,127
Tradenames, net210,308216,995
Goodwill1,454,1721,432,384
Deferred income taxes12,17915,532
Operating lease and other assets217,896203,051
Total assets$5,186,939$5,093,312
Liabilities and stockholders’ equity
Current liabilities:
Short-term borrowings$65,540$81,769
Accounts payable424,812340,719
Accrued wages and employee benefits78,20954,970
Accrued product warranty60,37765,298
Other accrued liabilities291,360292,120
Current portion of long-term borrowings and finance lease obligations99,17645,895
Total current liabilities1,019,474880,771
Long-term borrowings and finance lease obligations1,360,6371,447,553
Deferred income taxes62,26090,012
Deferred revenue186,465167,008
Operating lease and other long-term liabilities145,641158,349
Total liabilities2,774,4772,743,693
Redeemable noncontrolling interests–6,549
Stockholders’ equity:
Common stock, par value $0.01, 500,000,000 shares authorized, 73,646,420 and 73,195,055 shares issued at September 30, 2024 and December 31, 2023, respectively736733
Additional paid-in capital1,115,5251,070,386
Treasury stock, at cost, 14,149,513 and 13,057,298 shares at September 30, 2024 and December 31, 2023, respectively(1,192,435)(1,032,921)
Excess purchase price over predecessor basis(202,116)(202,116)
Retained earnings2,715,7162,519,313
Accumulated other comprehensive loss(27,987)(15,143)
Stockholders’ equity attributable to Generac Holdings Inc.2,409,4392,340,252
Noncontrolling interests3,0232,818
Total stockholders' equity2,412,4622,343,070
Total liabilities and stockholders’ equity$5,186,939$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.