Sign in

GENERAC HOLDINGS (GNRC)

Generac Holdings Inc. is a leading global designer and manufacturer of energy technology solutions, providing power generation equipment, energy storage systems, energy management devices, and other power products . The company serves residential, light commercial, and industrial markets through a broad network of independent dealers, distributors, retailers, e-commerce partners, wholesalers, and equipment rental companies . Generac's product offerings are categorized into three main segments: Residential products, Commercial & Industrial (C&I) products, and Other products and services .

  1. Residential Products - Offers automatic home standby generators, portable generators, and residential energy storage systems, catering to the needs of homeowners.
  2. Commercial & Industrial (C&I) Products - Provides generators and energy storage systems designed for commercial and industrial applications.
  3. Other Products and Services - Includes aftermarket service parts, product accessories, and grid services, supporting the maintenance and enhancement of power solutions.

You might also like

NamePositionExternal RolesShort Bio

Aaron P. Jagdfeld

ExecutiveBoard

President, CEO, and Chairman

Director of The Hillman Group

Joined GNRC in 1994; became CEO in 2008 and Chairman in 2016. Led the IPO and international expansion. Holds a BBA in Accounting from the University of Wisconsin-Whitewater.

View Report →

Erik Wilde

Executive

EVP, Industrial, Americas

None

Joined GNRC in 2016. Previously held leadership roles at Komatsu America Corp. Holds a BBA in Management from Boise State University and an MBA from Keller Graduate School of Management.

Kyle Raabe

Executive

President, Consumer Power

None

Rejoined GNRC in 2019. Previously held leadership roles at The Master Lock Corporation and Veolia North America. Holds a BA in Biological Science from Lawrence University.

Norman Taffe

Executive

President, Energy Technology

None

Joined GNRC in 2022. Previously held leadership roles at SunPower Corporation and Cypress Semiconductor. Holds a BS in Electrical Engineering from the University of Michigan and an MBA from HBS.

Raj Kanuru

Executive

EVP, General Counsel & Secretary

None

Joined GNRC in 2013. Previously worked at Caterpillar Inc. and Arthur Andersen. Holds a BS in Finance from Birmingham-Southern College and a JD from the University of Alabama.

York A. Ragen

Executive

Chief Financial Officer (CFO)

None

Joined GNRC in 2005; became CFO in 2008. Previously worked at APW Ltd. and Arthur Andersen. Holds a BBA in Accounting from the University of Wisconsin-Whitewater.

Andrew Lampereur

Board

Director

None

Joined GNRC in 2014. Former CFO of Actuant Corporation. Brings 26+ years of senior-level financial experience.

Bennett Morgan

Board

Lead Director

None

Joined GNRC in 2013. Former President and COO of Polaris Industries Inc. Brings 25+ years of expertise in consumer durables and product development.

David Ramon

Board

Director

Investment Partner at Gratitude Railroad; Managing Partner at Vaduz Partners

Joined GNRC in 2010. Brings 30+ years of investment and leadership experience. Also a director at Sagent-CTAM Holdings, Inc..

Dominick Zarcone

Board

Director

Director at LKQ Corporation

Joined GNRC in 2017. Former CEO and CFO of LKQ Corporation. Brings 35+ years of expertise in investment banking and capital markets.

John Bowlin

Board

Director

Director at Cerity Partners

Joined GNRC in 2006. Brings 30+ years of leadership experience in consumer products and international operations.

Kathryn Roedel

Board

Director

Lead Director at Columbus McKinnon Corporation

Joined GNRC in 2016. Brings 30+ years of expertise in operations, supply chain, and risk management. Holds a BS in Mechanical Engineering from Michigan State University.

Marcia Avedon

Board

Director

Director at Acuity Brands and Cornerstone Building Brands

Joined GNRC in 2019. Founder and CEO of Avedon Advisory, LLC. Brings 30+ years of experience in organizational transformation and talent management.

Nam Nguyen

Board

Director

COO of Generate Capital

Joined GNRC in 2021. Brings expertise in energy and sustainability. Currently COO of Generate Capital.

Robert Dixon

Board

Director

None

Joined GNRC in 2012. Former CEO of Seven Seas Water Corporation and Chairman of Natural Systems Utilities LLC. Brings 30+ years of global management experience.

William Jenkins

Board

Director

President of Palo Alto Networks; Director of Skydeck Acquisition Corporation

Joined GNRC in 2017. Brings extensive experience in cybersecurity and technology leadership.

  1. Given the ongoing softness in the telecom and rental markets leading to a 10% decline in C&I product sales, what steps are you taking to mitigate this weakness, and how confident are you in the recovery of these markets in the near term?
  2. Despite recent growth driven by power outages like Hurricane Beryl, how sustainable is the increased demand for home standby generators, and what strategies are in place to drive growth in regions not experiencing significant outage activity?
  3. With only approximately 6% penetration in the U.S. residential standby generator market, what are the key barriers to increasing market adoption, and how do you plan to overcome them to accelerate growth?
  4. Considering the ongoing challenges in the clean energy market due to higher borrowing costs and changes to California's net metering program, how will these headwinds impact your Residential Energy Technology Products & Solutions, and what is your strategy to navigate them?
  5. You've made significant investments in energy storage systems, EV charging solutions through your agreement with Wallbox, and microgrid technologies; how do you plan to achieve profitable growth in these highly competitive and evolving markets, and what returns do you expect from these investments?

Research analysts who have asked questions during GENERAC HOLDINGS earnings calls.

Brian Drab

William Blair & Company

4 questions for GNRC

Also covers: DCI, DDD, ENS +11 more

George Gianarikas

Canaccord Genuity

4 questions for GNRC

Also covers: AEVA, AMRC, ARBE +20 more

Michael Halloran

Baird

4 questions for GNRC

Also covers: AOS, CXT, DOV +18 more

Jeffrey Hammond

KeyBanc Capital Markets

3 questions for GNRC

Also covers: AOS, ETN, GGG +17 more

Jerry Revich

Goldman Sachs Group Inc.

3 questions for GNRC

Also covers: AGCO, ALSN, ATMU +28 more

Jordan Levy

Truist Securities

3 questions for GNRC

Also covers: AMTX, ARRY, BLDP +10 more

Keith Housum

Northcoast Research

3 questions for GNRC

Also covers: AXON, BRC, CDW +9 more

Mark W. Strouse

J.P. Morgan Chase & Co.

3 questions for GNRC

Also covers: ARRY, BEP, BEPC +14 more

Thomas Moll

Stephens Inc.

3 questions for GNRC

Also covers: CARR, CGNX, DGII +13 more

Kashy Harrison

Piper Sandler

2 questions for GNRC

Also covers: AMRC, ARRY, BE +13 more

Sean Milligan

Gen

2 questions for GNRC

Also covers: ENVX, HYLN, LB

David Tarantino

Robert W. Baird & Co.

1 question for GNRC

Also covers: ATKR, BROS, CAKE +17 more

Dimple Gosai

Bank of America

1 question for GNRC

Also covers: ARRY, BE, CWEN +6 more

Jonathan Windham

UBS

1 question for GNRC

Also covers: ARRY, FLNC, NXT +1 more

Joseph Osha

Guggenheim Partners

1 question for GNRC

Also covers: AMRC, ARRY, CHPT +11 more

Keith Howson

North Coast Research

1 question for GNRC

Stephen Gengaro

Stifel Financial Corp.

1 question for GNRC

Also covers: ACDC, AESI, AMRC +24 more

Tommy Moll

Stephens Inc.

1 question for GNRC

Also covers: CGNX, DGII, DSGR +9 more

Vikram Bagri

Citigroup Inc.

1 question for GNRC

Also covers: AMPS, ARRY, CSIQ +6 more
Program DetailsProgram 1Program 2
Approval DateJuly 2022 February 12, 2024
End Date/Duration24 months 24 months
Total additional amount$500 million $500 million
Remaining authorization$26.3 million $347,256,871
DetailsReplaced by Program 2 Active, market conditions
YearAmount DueDebt TypeInterest Rate% of Total Debt
2024$11.875Tranche A Term Loan Facility6.93% 0.8% = (11.875 / 1,468.666) * 100
2024$150.000Revolving Facility6.93% 10.2% = (150.000 / 1,468.666) * 100
2024$65.540Short-term BorrowingsN/A4.5% = (65.540 / 1,468.666) * 100
2025$51.875Tranche A Term Loan Facility6.93% 3.5% = (51.875 / 1,468.666) * 100
2026$70.625Tranche A Term Loan Facility6.93% 4.8% = (70.625 / 1,468.666) * 100
2027$755.000Tranche A Term Loan Facility6.93% 51.4% = (755.000 / 1,468.666) * 100
2027$150.000Revolving Facility6.93% 10.2% = (150.000 / 1,468.666) * 100
2028$5.000Tranche B Term Loan Facility6.95% 0.3% = (5.000 / 1,468.666) * 100
2029$5.000Tranche B Term Loan Facility6.95% 0.3% = (5.000 / 1,468.666) * 100
2030$5.000Tranche B Term Loan Facility6.95% 0.3% = (5.000 / 1,468.666) * 100
2031$467.500Tranche B Term Loan Facility6.95% 31.8% = (467.500 / 1,468.666) * 100

Competitors mentioned in the company's latest 10K filing.

CompanyDescription

Kohler

Competes in the residential products market, targeting specific applications within their larger diversified product mix.

Briggs & Stratton

Competes in the residential products market, targeting specific applications within their larger diversified product mix.

Competes in both residential and C&I products markets, targeting specific applications within their larger diversified product mix.

Competes in the residential products market, targeting specific applications within their larger diversified product mix.

Champion

Competes in the residential products market, targeting specific applications within their larger diversified product mix.

Techtronics International

Competes in the residential products market, targeting specific applications within their larger diversified product mix.

Husqvarna

Competes in the residential products market, targeting specific applications within their larger diversified product mix.

Ariens

Competes in the residential products market, targeting specific applications within their larger diversified product mix.

LG Chem

Competes in the residential products market, particularly in energy storage systems.

Competes in the residential products market, particularly in energy storage systems.

Competes in the residential products market, particularly in energy storage systems.

Competes in the residential products market, particularly in energy storage systems.

Competes in the residential products market, particularly in smart home energy management devices.

Competes in the residential products market, particularly in smart home energy management devices.

Competes in the residential products market, particularly in smart home energy management devices.

Competes in the C&I products market, focusing on diesel generators and other power solutions.

IGSA

Competes in the C&I products market, focusing on diesel generators and other power solutions.

AKSA

Competes in the C&I products market, focusing on diesel generators and other power solutions.

MultiQuip

Competes in the C&I products market, focusing on diesel generators and other power solutions.

Wacker

Competes in the C&I products market, focusing on diesel generators and other power solutions.

Doosan

Competes in the C&I products market, focusing on diesel generators and other power solutions.

Competes in the C&I products market, focusing on diesel generators and other power solutions.

Himoinsa

Competes in the C&I products market, focusing on diesel generators and other power solutions.

FG Wilson

Competes in the C&I products market, focusing on diesel generators and other power solutions.

Competes in the C&I products market, focusing on diesel generators and other power solutions.

Planelec

Competes in the C&I products market, focusing on diesel generators and other power solutions.

Co-map

Competes in the C&I products market, focusing on diesel generators and other power solutions.

Autogrid

Competes in the grid services optimization software market.

Energy Hub

Competes in the grid services optimization software market.

NameStart DateEnd DateReason for Change
Deloitte & Touche LLPApril 20, 2016 PresentCurrent auditor.
Ernst & Young LLPN/AApril 20, 2016 The Audit Committee recommended and approved the dismissal. No disagreements or reportable events.

Notable M&A activity and strategic investments in the past 3 years.

CompanyYearDetails

Ageto, LLC

2024

Generac finalized the acquisition of Ageto on August 1, 2024, to add its microgrid controller technology that integrates and optimizes distributed energy resources for the C&I market; the deal’s financial terms were not disclosed and included contingent consideration with allocation finalized by September 30, 2025.

PowerPlay Battery Energy Storage Systems

2024

Acquired on June 26, 2024, this division of SunGrid Solutions Inc. provides turnkey BESS solutions up to 7 MWh for C&I projects, strengthening Generac’s market position in energy storage while maintaining R&D operations in Cambridge, Canada; the financial terms were not disclosed.

Huntington Power Equipment, Inc.

2024

Acquired on April 1, 2024, for a preliminary combined purchase price of $17.8 million (net of cash acquired), Huntington enhances Generac’s portfolio in industrial and residential generator distribution and maintenance, with integration effects recognized from the acquisition date.

PR Industrial S.r.l. (Pramac)

2023

On March 8, 2023, Generac acquired the remaining 20% stake in Pramac for a total of $116.754 million, achieving full ownership to bolster its international footprint in generators and energy storage solutions; the deal included both cash and contingent deferred consideration tied to earnings milestones.

REFU Storage Systems (REFUstor)

2023

The acquisition on February 1, 2023, provided Generac with advanced battery storage hardware and software for the C&I stationary energy storage market, with purchase accounting to be finalized by March 31, 2024 and minimal initial material impact on financial results.

Blue Pillar

2022

Finalized on October 3, 2022, the acquisition of Blue Pillar—a developer of industrial IoT platforms—supports Generac’s efforts in connecting stranded C&I generators and integrating with its Concerto software platform, addressing grid resiliency; key technology synergies were emphasized though deal terms were not elaborated.

Electronic Environments Co. LLC (EEC)

2022

Completed on June 30, 2022, this acquisition of EEC, a provider of industrial generator distribution and facility services for data centers and telecom sites, was non-material to Generac’s financial results and has been incorporated into its financial statements from the acquisition date; the company is based in Marlborough, Massachusetts.

Recent press releases and 8-K filings for GNRC.

Arq reports Q2 2025 results
·$GNRC
Earnings
New Projects/Investments
  • Revenue of $28.6 million in Q2 2025, up 13% year-over-year on higher pricing and volumes sold.
  • Average sales price rose ~9% year-over-year, driving continued margin expansion.
  • Gross margin improved to 33.3% from 32.2% in Q2 2024.
  • Adjusted EBITDA of $3.7 million, marking the fifth consecutive quarter of positive Adjusted EBITDA, versus $1.1 million in Q2 2024.
  • Commissioned the first granular activated carbon (GAC) line at Red River; targeting FID for a second line before year-end 2025.
Aug 11, 2025, 8:34 PM
Generac Holdings reports Q2 2025 results
·$GNRC
Earnings
Guidance Update
Product Launch
  • Net sales rose 6% to $1.06 B, with adjusted EBITDA margin at 17.7%, driven by strong C&I and residential energy storage sales.
  • Residential sales increased 7% to $574 M, C&I product sales rose 5% to $362 M, and Other Products & Services grew 8% to $125 M.
  • Launched large megawatt generators for data centers, building a global backlog of >$150 M and beginning initial international shipments in Q3 2025 (domestic in late 2025).
  • Updated 2025 guidance: net sales growth of 2–5%, adjusted EBITDA margin of 18–19%, and free cash flow conversion of 90–100% (>$400 M).
  • Repurchased $50 M of shares in Q2; amended and extended Term Loan A/revolving facility to July 2030, ending the quarter with $1.4 B debt at 1.7× leverage.
Jul 31, 2025, 3:05 AM
Generac amends credit agreement, establishes $1.0 B revolving commitments
·$GNRC
Debt Issuance
  • Generac Holdings Inc. entered into a Second Amendment, dated July 1, 2025, to its February 9, 2012 Credit Agreement.
  • The amendment sets aggregate Revolving Commitments of $1.0 billion, with up to $100 million available in sterling and euros.
  • The Second Amendment Effective Date is July 1, 2025.
  • Core financial covenants remain unchanged: a maximum Total Leverage Ratio of 3.75:1.00 and a minimum Interest Coverage Ratio of 3.00:1.00.
Jul 2, 2025, 12:00 AM
Generac Q1 2025 Earnings & Results Overview
·$GNRC
Earnings
Guidance Update
Demand Weakening
Share Buyback
  • Net sales increased 6% to $942 million with residential product sales rising approximately 15% to $494 million and a ~5% decline in commercial & industrial sales
  • Adjusted EBITDA reached $150 million (15.9% margin), supported by an improved gross margin of 39.5% (up from 35.6% YoY)
  • Net income grew to $44 million (or $0.73 per share) compared to $26 million in Q1 2024, reflecting stronger profitability
  • The company repurchased 716,685 shares for approximately $97 million, signaling confidence in its financial performance
  • Anticipated $125 million in tariff-related cost impacts in H2 2025 are expected to be offset dollar-for-dollar by planned price increases of 7%-8% and supply chain initiatives
  • Revised full-year guidance now projects net sales growth of 0-7% and an adjusted EBITDA margin of 17.0%-19.0%
Apr 30, 2025, 2:01 PM