Generac Holdings Inc. (GNRC), a designer and manufacturer of generators and other engine powered products, announced the company expects strong financial results for the third quarter of 2012, and as a result is raising its outlook for full-year 2012. During the third quarter of 2012, the company has experienced increased demand for home standby and portable generators as a result of the recent major power outage events as well as expanded marketing and sales initiatives to increase home standby penetration.
The company expects net sales during the third quarter to be in the range of $295.0 million to $300.0 million. Net income is expected to be between $21.5 million to $25.0 million, with net income per share of $0.31 to $0.36. Adjusted net income is expected to be between $49.5 million to $53.0 million, with adjusted net income per share of $0.72 to $0.77. Analysts polled by Thomson Reuters expect the company to report third-quarter profit per share of $0.46 on revenue of $236.88 million. Analysts' estimates typically exclude special items.
The company said, due to the outperformance for residential product sales, full-year 2012 total net sales are now expected to increase in the low-30% range over the prior year, which represents an increase from the low-20% range growth rate previously expected. Net income per share is expected to be in the range of $1.02 to $1.08, with adjusted net income per share of $2.65 to $2.70. Analysts expect the company to report 2012 profit per share of $2.39 on revenue of $985.27 million.
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