Stock Analysis on Net
Stock Analysis on Net

Generac Holdings Inc. (NYSE:GNRC)

$22.49

This company has been moved to the archive! The financial data has not been updated since August 8, 2022.

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Paying user area

Try for free

Generac Holdings Inc. pages available for free this week:

The data is hidden behind: . Unhide it.

Get access

This is a one-time payment. There is no automatic renewal.

We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

Generac Holdings Inc., consolidated income statement (quarterly data)

US$ in thousands

Microsoft Excel
3 months ended: Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Net sales
Costs of goods sold
Gross profit
Selling and service
Research and development
General and administrative
Acquisition related costs
Amortization of intangibles
Operating expenses
Income from operations
Interest expense
Investment income
Loss on extinguishment of debt
Loss on pension settlement
Other, net
Other expense, net
Income before provision for income taxes
Provision for income taxes
Net income
Net (income) loss attributable to noncontrolling interests
Net income attributable to Generac Holdings Inc.

Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

Net sales
Net sales increased significantly over the period analyzed, rising from approximately $332 million in Q1 2017 to about $1.29 billion in Q2 2022. This growth shows a strong upward trend with seasonal fluctuations, typically peaking in the fourth quarter.
Costs of goods sold
Costs of goods sold also rose steadily, from approximately $221 million in Q1 2017 to about $834 million in Q2 2022. Despite the increase, the growth rate in costs is somewhat aligned with net sales, indicating maintained operational scale but with continuing pressure on cost management.
Gross profit
Gross profit showed a progressive increase from around $110 million to roughly $457 million, reflecting overall revenue growth. However, the gross profit margin shows periods of compression, particularly in early 2020, before recovering and reaching new highs in 2022.
Selling and service expenses
These expenses grew consistently from about $40 million in early 2017 to $120 million by mid-2022, paralleling sales growth but increasing as a proportion of net sales, which may indicate rising sales and marketing efforts or increased costs related to service functions.
Research and development expenses
R&D expenses increased steadily from about $10 million to over $41 million, demonstrating a commitment to innovation and product development with a gradual increase in investment intensity over time.
General and administrative expenses
G&A expenses showed an overall increase from $21 million to approximately $53 million but with notable volatility, especially in the last two years, suggesting either variable overhead costs or one-time expenses impacting periods unevenly.
Acquisition related costs
There was a significant acquisition-related expense recorded only in Q1 2022 amounting to approximately $21 million, indicating corporate activity such as mergers or acquisitions impacting financials temporarily.
Amortization of intangibles
These costs increased over time, peaking around $26 million in Q1 2022. This trend suggests growing intangible assets subject to amortization, possibly related to previous acquisition activity.
Operating expenses
Total operating expenses rose markedly from about $79 million to $240 million, reflecting increases across selling, R&D, G&A, acquisition costs, and amortization. The rise outpaced gross profit growth leading to fluctuations in operating income margins over some periods.
Income from operations
Operating income exhibited substantial growth, moving from approximately $32 million to $217 million. Despite rising expenses, the operating income increase highlights effective management of sales growth and cost control, with some fluctuations around 2020 likely linked to external factors.
Interest expense
Interest expenses remained relatively stable, fluctuating modestly around $8 million to $11 million, suggesting consistent debt levels with no significant changes in borrowing costs over time.
Investment income
Investment income was modest, generally under $1 million per quarter, with no significant trend, indicating limited impact on overall profitability.
Loss on extinguishment of debt
The company recorded occasional losses associated with debt extinguishment, notably in 2018, 2020, and especially in Q1 2022 with a loss close to $3.7 million, implying refinancing or debt restructuring activities.
Loss on pension settlement
A one-time loss of about $11 million was recognized in Q3 2019, representing a significant nonrecurring expense.
Other, net and other expense, net
Other income/expense items showed variability but remained relatively minor compared to core operating activities. The total other expense steadily increased from about $10 million up to over $13 million, which modestly affected pre-tax income.
Income before provision for income taxes
Pre-tax income grew strongly from $21 million to over $203 million, mirroring operating income trends with some impact from non-operating items.
Provision for income taxes
The tax provision generally increased in absolute terms with fluctuations, peaking near $46 million in mid-2022. Some volatility is consistent with fluctuations in tax planning and effective tax rates year over year.
Net income and net income attributable to Generac Holdings Inc.
Net income attributable to the company increased from about $13 million to $156 million, showing strong earnings growth consistent with revenue and operating profit trends. There is clear evidence of improved profitability despite external challenges and increased expenses. Net income attributable to noncontrolling interests was generally small and fluctuated, having minimal impact on overall net income.