Generac Holdings Inc. (GNRC) has announced its third-quarter earnings, showing a notable increase compared to the previous year and surpassing Wall Street expectations.
For this quarter, the company reported earnings amounting to $113.742 million, equating to $1.89 per share. In comparison, last year’s third-quarter earnings were $60.377 million or $0.97 per share.
On an adjusted basis, factoring out certain items, Generac Holdings posted earnings of $135.582 million, or $2.25 per share, for the period.
Analysts, as surveyed by Thomson Reuters, had anticipated the company would earn approximately $1.95 per share. It’s common for analysts' projections to exclude extraordinary items.
Moreover, the company’s revenue for the quarter increased by 9.6%, reaching $1.173 billion, compared to $1.070 billion in the same quarter last year.
Here's a brief overview of Generac Holdings Inc.'s earnings according to generally accepted accounting principles (GAAP):
- Earnings for Q3: $113.742 million, up from $60.377 million last year.
- Earnings per Share (EPS) for Q3: $1.89, compared to $0.97 last year.
- Revenue for Q3: $1.173 billion, up from $1.070 billion last year.
