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Generac Holdings Inc Raises FY 2013 Guidance; Updates H2 2013 Revenue Guidance


Tuesday, 30 Jul 2013 06:00am EDT 

Generac Holdings Inc announced that it is revising upward its sales guidance for fiscal 2013 primarily due to continued strong demand for home standby and portable generators, an improved outlook for C&I shipments, as well as the expected closing of the Tower Light acquisition early in the third quarter of 2013. Fiscal 2013 net sales are now expected to increase in the low-20% range over the prior year, which is an increase from the low-to-mid teens rate previously expected. For second half of 2013, net sales are now forecasted to increase in the mid-single digit range as compared to the prior-year second-half period. As a result of the higher sales outlook and the improved operating expense guidance, adjusted EBITDA for fiscal 2013 is now expected to increase in the low-20% range, which is an increase from the low-teens percentage range previously expected. The Company reported revenue of $1.176 billion and EBITDA of $289.8 million in fiscal 2012; revenue of $300 million in third quarter of 2012 and revenue of $342 million in fourth quarter of 2012. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $1.37 billion and EBITDA of $334 million for fiscal 2013; revenue of $327 million for third quarter of 2013 and revenue of $316 million for fourth quarter of 2013. 

Company Quote

47.68
0.42 +0.89%
26 Dec 2014