AI English summary of an SEC filing — figures as filed
Generac GNRCThe company said Domestic segment total sales (including inter-segment sales) for Q1 2024 were roughly flat at $720.5 million versus $720.0 million a year earlier, while International segment total sales fell 14% to $186.7 million.
Key points
AI summaryThe company said Domestic segment total sales (including inter-segment sales) for Q1 2024 were roughly flat at $720.5 million versus $720.0 million a year earlier, while International segment total sales fell 14% to $186.7 million.
The company said gross profit margin was 35.6% in Q1 2024, compared with 30.7% in Q1, and cited favorable sales mix, production efficiencies and lower input costs as the drivers. Net income attributable to Generac Holdings Inc. was $26.2 million, compared with $12.4 million in the prior-year quarter.
Generac said operating expenses rose $21.5 million, or 9.4%, from the prior-year quarter in Q1 2024. It said the current quarter included $2.1 million in charges related to patent litigation matters, while the prior-year quarter included a $5.8 million provision related to a CPSC matter.
The company said total liquidity was $1,348.6 million as of March 31, 2024, consisting of $249.4 million in cash and cash equivalents and $1,099.2 million available under the Revolving Facility. It said it made no share repurchases under its stock repurchase programs in Q1 2024 or Q1 2023.
Key figures
Quarter ended March 31, 2024
- Revenue
- $889M
- Operating income
- $67M
- Net income
- $26M
- EPS
- $0.39
- Gross profit
- $316M
- Operating cash flow
- $112M
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Q1 Domestic segment total sales $720.5 million, International segment sales down 14%
The company said Domestic segment total sales (including inter-segment sales) for Q1 2024 were roughly flat at $720.5 million versus $720.0 million a year earlier, while International segment total sales fell 14% to $186.7 million.
Source · Based on the MD&A text of the filing
Generac gross margin 35.6% in Q1, net income attributable to Generac Holdings $26.2 million
The company said gross profit margin was 35.6% in Q1 2024, compared with 30.7% in Q1, and cited favorable sales mix, production efficiencies and lower input costs as the drivers. Net income attributable to Generac Holdings Inc. was $26.2 million, compared with $12.4 million in the prior-year quarter.
Source · Based on the MD&A text of the filing
Operating expenses up $21.5 million (9.4%) in Q1 on litigation items
Generac said operating expenses rose $21.5 million, or 9.4%, from the prior-year quarter in Q1 2024. It said the current quarter included $2.1 million in charges related to patent litigation matters, while the prior-year quarter included a $5.8 million provision related to a CPSC matter.
Source · Based on the MD&A text of the filing
Total liquidity $1,348.6 million as of March 31, 2024, no buybacks in Q1
The company said total liquidity was $1,348.6 million as of March 31, 2024, consisting of $249.4 million in cash and cash equivalents and $1,099.2 million available under the Revolving Facility. It said it made no share repurchases under its stock repurchase programs in Q1 2024 or Q1 2023.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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