Generac Holdings Inc. reported a net income of $44.3 million for the first quarter of 2025, a significant increase of 67.2% compared to $26.5 million in the same period last year. The company's revenue rose to $942.1 million, reflecting a 5.9% increase from $889.3 million in the first quarter of 2024. This growth was primarily driven by higher sales of residential products, particularly home standby generators, and energy technology solutions, which contributed to a gross profit margin improvement from 35.6% to 39.5%.
In terms of operational performance, Generac's domestic segment saw total sales increase by 8.7% to $782.3 million, bolstered by strong demand for home standby generators and energy technology solutions. Conversely, the international segment experienced a slight decline, with total sales decreasing by 5.3% to $185.5 million, largely due to unfavorable foreign currency impacts. The company noted that the contribution from recent acquisitions added approximately $11.2 million to domestic sales.
Generac has been actively expanding its product offerings and market presence through strategic acquisitions. In the past year, the company acquired Wolverine Power Systems, Ageto, and Huntington Power Equipment, among others, to enhance its capabilities in energy technology solutions. These acquisitions are expected to support Generac's strategic plan, "Powering a Smarter World," which aims to capitalize on the growing demand for energy management and backup power solutions.
The company reported a total of 59,081,648 shares of common stock outstanding as of May 2, 2025, and has been actively repurchasing shares under its stock repurchase program, buying back 716,685 shares for $97.5 million in the first quarter of 2025. Generac's liquidity position remains strong, with total liquidity of $1.4 billion, consisting of $187.5 million in cash and cash equivalents and $1.25 billion available under its revolving credit facility.
Looking ahead, Generac anticipates continued growth driven by increasing demand for backup power solutions amid rising power prices and deteriorating power quality. The company is focused on expanding its market share in both residential and commercial sectors while leveraging its recent acquisitions to enhance its product portfolio and operational capabilities.
About GENERAC HOLDINGS INC.
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