Generac Holdings reports quarterly income of $75.6M

Associated Press

Feb. 15, 2019

TOWN OF GENESEE  Generac Holdings Inc. (GNRC) on Thursday reported fourth-quarter net income of $75.6 million.

The Town of Genesee-based company said it had profit of $1.20 per share. Earnings, adjusted for amortization costs and nonrecurring costs, came to $1.42 per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.39 per share.

The generator maker posted revenue of $563.4 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $551.9 million.

For the year, the company reported profit of $238.3 million, or $3.54 per share. Revenue was reported as $2.02 billion.

Generac Holdings shares have climbed nearly 3 percent since the beginning of the year. The stock has climbed 14 percent in the last 12 months.