Generac (GNRC) Q4 Earnings & Revenues Top Estimates, Up Y/Y
Zacks Investment Research | Feb 14, 2019 08:53PM ET
Generac Holdlings Inc. (NYSE:GNRC) reported adjusted earnings of $1.42 per share, which increased 2.2% year over year. Additionally, the figure beat the Zacks Consensus Estimate by 3 cents.
Total revenues of $563.4 million beat the Zacks Consensus Estimate of $552 million and increased 14.3% year over year.
The year-over-year growth in revenues was driven by robust demand for home standby generators. Moreover, high order rates for natural fuel gas generators and solid shipment of C&I stationary generator and mobile product drove the top line.
Top-Line Details
On a segmental basis, the company’s Domestic segment’s sales grew 14.3% year over year to $437.8 million while that from International segment increased 14% to $125.6 million.
The increase in Domestic segment was driven by robust growth in shipments of home standby generators. Additionally, solid demand from telecom and rental customers drove shipments for C&I stationary generator and mobile product. However, the growth in this segment was partially offset by lower shipments of portable generators.
Domestic order rates from industrial distributors for natural fuel gas generators was solid in the reported quarter. This increase in demand comes on the back of low natural gas prices and accelerating adoption of natural gas as a cost-effective fuel source for backup power.
Growth in the International segment was driven by Pramac, Ottomotores and Motortech businesses.
Based on product classes, the company’s Residential product sales grew 10.2% year over year to $293.9 million, Commercial & Industrial product sales increased 17.5% to $223.2 million, and Other sales totaled $46.3 million, surging 26.5% year over year.
Generac Holdlings Inc. Price, Consensus and EPS Surprise
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