GENERAC HOLDINGS INC.

For the period ended Sep 30, 2026. Filed Nov 3, 2026.

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, 2026 · Filed Nov 3, 2026

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

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

See the whole filing, with its images and exhibits

Contents

GENERAC HOLDINGS INC.

TABLE OF CONTENTS

	Page
PART I. FINANCIAL INFORMATION
Item 1. · Financial Statements
	Condensed Consolidated Balance Sheets as of September 30, 2026 and December 31, 2025	1
	Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 30, 2026 and 2025	2
	Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended September 30, 2026 and 2025	3
	Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2026 and 2025	6
	Notes to Condensed Consolidated Financial Statements	7
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	21
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	34
Item 4.	Controls and Procedures	34
PART II. OTHER INFORMATION
Item 1.	Legal Proceedings	34
Item 1A.	Risk Factors	34
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	34
Item 3.	Defaults Upon Senior Securities	34
Item 4.	Mine Safety Disclosures	34
Item 5.	Other Information	35
Item 6.	Exhibits	35
	Signatures	36

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

Generac Holdings Inc.

Condensed Consolidated Balance Sheets

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

(Unaudited)

	September 30,	December 31,
	2026	2025
Assets
Current assets:
Cash and cash equivalents	$393,671	$341,413
Accounts receivable, less allowance for credit losses of $33,847 and $34,504 at September 30, 2026 and December 31, 2025, respectively	846,036	602,739
Inventories	1,292,713	1,248,867
Prepaid expenses and other current assets	263,674	269,459
Total current assets	2,796,094	2,462,478
Property and equipment, net	874,156	813,605
Customer lists, net	146,147	127,517
Patents and technology, net	304,465	338,308
Other intangible assets, net	3,923	10,011
Tradenames, net	218,747	199,430
Goodwill	1,648,970	1,467,094
Deferred income taxes	6,231	41,949
Operating lease and other assets	139,368	113,287
Total assets	$6,138,101	$5,573,679
Liabilities and stockholders’ equity
Current liabilities:
Short-term borrowings	$53,134	$50,618
Accounts payable	629,432	436,583
Accrued wages and employee benefits	82,068	69,850
Accrued product warranty	58,822	44,716
Other accrued liabilities	556,801	591,387
Current portion of long-term borrowings and finance lease obligations	36,744	22,192
Total current liabilities	1,417,001	1,215,346
Long-term borrowings and finance lease obligations	1,243,734	1,260,256
Deferred income taxes	50,426	60,913
Deferred revenue	238,359	232,921
Operating lease and other long-term liabilities	176,360	165,197
Total liabilities	3,125,880	2,934,633
Redeemable non-controlling interest	93	742
Stockholders’ equity:
Common stock, par value $0.01, 500,000,000 shares authorized, 74,231,735 and 74,050,753 shares issued at September 30, 2026 and December 31, 2025, respectively	742	741
Additional paid-in capital	1,245,109	1,187,419
Treasury stock, at cost, 15,243,377 and 15,373,990 shares at September 30, 2026 and December 31, 2025, respectively	(1,337,451)	(1,358,053)
Excess purchase price over predecessor basis	(202,116)	(202,116)
Retained earnings	3,329,278	3,003,557
Accumulated other comprehensive (loss) income	(23,441)	874
Stockholders’ equity attributable to Generac Holdings Inc.	3,012,121	2,632,422
Noncontrolling interests	7	5,882
Total stockholders' equity	3,012,128	2,638,304
Total liabilities and stockholders’ equity	$6,138,101	$5,573,679

See notes to condensed consolidated financial statements.

Generac Holdings Inc.

Condensed Consolidated Statements of Comprehensive Income

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

(Unaudited)

	Three Months Ended September 30,		Nine Months Ended September 30,
	2026	2025	2026	2025
Net sales	$1,294,779	$1,114,353	$3,527,654	$3,117,643
Costs of goods sold	778,738	687,431	2,079,566	1,901,986
Gross profit	516,041	426,922	1,448,088	1,215,657
Operating expenses:
Selling and service	174,874	145,104	440,125	410,664
Research and development	63,832	60,059	192,269	182,461
General and administrative	88,134	93,748	237,574	247,924
Amortization of intangibles	28,618	24,932	89,813	76,102
Total operating expenses	355,458	323,843	959,781	917,151
Income from operations	160,583	103,079	488,307	298,506
Other (expense) income:
Interest expense	(16,378)	(18,461)	(48,541)	(53,813)
Investment income	3,472	1,646	8,716	5,618
Change in fair value of investments	(3,021)	(5,667)	1,521	(17,138)
Loss on refinancing of debt	-	(1,225)	-	(1,225)
Loss attributable to business dispositions	(485)	-	(18,723)	(3,905)
Other, net	(1,024)	(1,034)	(1,668)	(1,339)
Total other expense, net	(17,436)	(24,741)	(58,695)	(71,802)
Income before provision for income taxes	143,147	78,338	429,612	226,704
Provision for income taxes	34,198	11,758	104,541	41,416
Net income	108,949	66,580	325,071	185,288
Net (loss) income attributable to noncontrolling interests	(275)	419	(650)	1,271
Net income attributable to Generac Holdings Inc.	$109,224	$66,161	$325,721	$184,017
Net income attributable to Generac Holdings Inc. per common share - basic:	$1.86	$1.14	$5.55	$3.14
Weighted average common shares outstanding - basic:	58,845,536	58,263,218	58,695,971	58,604,097
Net income attributable to Generac Holdings Inc. per common share - diluted:	$1.83	$1.12	$5.48	$3.10
Weighted average common shares outstanding - diluted:	59,562,737	59,122,849	59,487,353	59,314,618
Comprehensive income attributable to Generac Holdings Inc.	$103,340	$60,765	$301,406	$267,125

See notes to condensed consolidated financial statements.

Generac Holdings Inc.

Condensed Consolidated Statements of Stockholders' Equity

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

(Unaudited)

	Generac Holdings Inc.
Excess Purchase Price · Accumulated
Additional · Over · Other · Total
Common Stock · Paid-In · Treasury Stock · Predecessor · Retained · Comprehensive · Stockholders' · Noncontrolling
	Shares	Amount	Capital	Shares	Amount	Basis	Earnings	Income (Loss)	Equity	Interests	Total
Balance at July 1, 2026	74,234,629	$742	$1,211,335	(15,228,990)	$(1,334,835)	$(202,116)	$3,220,054	$(17,557)	$2,877,623	$5	$2,877,628
Unrealized loss on interest rate swaps, net of tax benefit of $831								(2,526)	(2,526)		(2,526)
Foreign currency translation adjustment								(3,358)	(3,358)	2	(3,356)
Common stock issued under equity incentive plans, net of forfeitures and shares withheld for employee taxes and strike price	(3,058)	–	220						220		220
Payment of acquisition contingent consideration	164	–	64						64		64
Net share settlement of restricted stock awards				(14,387)	(2,616)				(2,616)		(2,616)
Share-based compensation			13,042						13,042		13,042
Customer Warrants			20,448						20,448		20,448
Net income							109,224		109,224		109,224
Balance at September 30, 2026	74,231,735	$742	$1,245,109	(15,243,377)	$(1,337,451)	$(202,116)	$3,329,278	$(23,441)	$3,012,121	$7	$3,012,128

	Generac Holdings Inc.
Excess Purchase Price · Accumulated
Additional · Over · Other · Total
Common Stock · Paid-In · Treasury Stock · Predecessor · Retained · Comprehensive · Stockholders' · Noncontrolling
	Shares	Amount	Capital	Shares	Amount	Basis	Earnings	Income (Loss)	Equity	Interests	Total
Balance at July 1, 2025	74,023,750	$740	$1,161,153	(15,351,876)	$(1,354,218)	$(202,116)	$2,961,859	$3,105	$2,570,523	$4,668	$2,575,191
Unrealized loss on interest rate swaps, net of tax benefit of $929								(2,824)	(2,824)		(2,824)
Foreign currency translation adjustment								(2,572)	(2,572)	14	(2,558)
Common stock issued under equity incentive plans, net of forfeitures and shares withheld for employee taxes and strike price	26,887	1	2,204						2,205		2,205
Net share settlement of restricted stock awards				(13,528)	(2,496)				(2,496)		(2,496)
Share-based compensation			12,751						12,751		12,751
Net income							66,161		66,161	468	66,629
Balance at September 30, 2025	74,050,637	$741	$1,176,108	(15,365,404)	$(1,356,714)	$(202,116)	$3,028,020	$(2,291)	$2,643,748	$5,150	$2,648,898

	Generac Holdings Inc.
Excess Purchase Price · Accumulated
Additional · Over · Other · Total
Common Stock · Paid-In · Treasury Stock · Predecessor · Retained · Comprehensive · Stockholders' · Noncontrolling
	Shares	Amount	Capital	Shares	Amount	Basis	Earnings	Income (Loss)	Equity	Interest	Total
Balance at January 1, 2026	74,050,753	$741	$1,187,419	(15,373,990)	$(1,358,053)	$(202,116)	$3,003,557	$874	$2,632,422	$5,882	$2,638,304
Unrealized loss on interest rate swaps, net of tax benefit of $2,052								(6,234)	(6,234)		(6,234)
Foreign currency translation adjustment								(18,081)	(18,081)	155	(17,926)
Common stock issued under equity incentive plans, net of forfeitures and shares withheld for employee taxes and strike price	170,818	1	(4,588)	(8,417)	–				(4,587)		(4,587)
Payment of acquisition contingent consideration	10,164	–	3,981						3,981		3,981
Net share settlement of restricted stock awards				(108,291)	(24,183)				(24,183)		(24,183)
Disposal of business with non-controlling interest			(2,640)						(2,640)	(6,030)	(8,670)
Treasury stock issued for business combination				247,321	44,785				44,785		44,785
Share-based compensation			40,489						40,489		40,489
Customer Warrants			20,448						20,448		20,448
Net income							325,721		325,721		325,721
Balance at September 30, 2026	74,231,735	$742	$1,245,109	(15,243,377)	$(1,337,451)	$(202,116)	$3,329,278	$(23,441)	$3,012,121	$7	$3,012,128

	Generac Holdings Inc.
Excess Purchase Price · Accumulated
Additional · Over · Other · Total
Common Stock · Paid-In · Treasury Stock · Predecessor · Retained · Comprehensive · Stockholders' · Noncontrolling
	Shares	Amount	Capital	Shares	Amount	Basis	Earnings	Income (Loss)	Equity	Interest	Total
Balance at January 1, 2025	73,785,631	$738	$1,133,756	(14,173,697)	$(1,196,997)	$(202,116)	$2,844,296	$(85,399)	$2,494,278	$3,165	$2,497,443
Unrealized loss on interest rate swaps, net of tax benefit of $3,364								(10,227)	(10,227)		(10,227)
Foreign currency translation adjustment								93,335	93,335	665	94,000
Common stock issued under equity incentive plans, net of forfeitures and shares withheld for employee taxes and strike price	265,006	3	3,241						3,244		3,244
Net share settlement of restricted stock awards				(82,501)	(11,800)				(11,800)		(11,800)
Stock repurchases				(1,109,206)	(147,917)				(147,917)		(147,917)
Share-based compensation			39,111						39,111		39,111
Cash dividends paid to noncontrolling interest of subsidiary							(293)		(293)		(293)
Net income							184,017		184,017	1,320	185,337
Balance at September 30, 2025	74,050,637	$741	$1,176,108	(15,365,404)	$(1,356,714)	$(202,116)	$3,028,020	$(2,291)	$2,643,748	$5,150	$2,648,898

See notes to condensed consolidated financial statements.

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About this filing

Table of Contents