Generac Holdings Inc. (GNRC), a manufacturer of energy technology solutions, reported Wednesday a loss in its fourth quarter, compared to prior year's profit, with weak sales. Adjusted earnings and top line missed market view.
Looking ahead for fiscal 2026, the company projects higher sales and margin.
In pre-market activity, the shares were gaining around 3.6 percent, trading at $188.99.
In the fourth quarter, net loss attributable to the Company was $24.46 million or $0.42 per share, as compared to net income of $117.23 million or $2.15 per share last year.
The latest quarter results reflected a $104.5 million provision for the settlement of a legal matter.
Adjusted net income was $95 million or $1.61 per share, compared to $168 million or $2.80 per share a year ago.
The Wall Street analysts on average expected the company to report earnings of $1.77 per share. Analysts' estimates typically exclude special items.
Adjusted EBITDA was $185 million or 17.0 percent of net sales, as compared to $265 million or 21.5 percent of net sales in the prior year.
Net sales decreased 12 percent to $1.09 billion from $1.23 billion in the prior year. The Street was looking for sales of $1.16 billion.
Residential product sales decreased approximately 23 percent year-over-year to $572 million.
Looking ahead for fiscal 2026, the company anticipates strong net sales growth in the mid-teens percent range as compared to the prior year.
C&I product sales are expected to increase in the 30 percent range during the year, and Residential product sales are projected to increase in the 10 percent range.
The Company expects adjusted EBITDA margin to be approximately 18.0 to 19.0 percent, compared to 17.0 percent in fiscal 2025.
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