Key Developments: Generac Holdings Inc (GNRC.N)
37.35USD
17 May 2013
$0.34 (+0.92%)
$37.01
$37.09
$37.37
$36.86
322,731
166,023
$41.37
$18.36
Latest Key Developments (Source: Significant Developments)
Generac Holdings Inc Announces Secondary Offering By Funds Affiliated With CCMP Capital
Generac Holdings Inc announced an underwritten secondary offering of 9,000,000 shares of its common stock by funds affiliated with CCMP Capital (the Selling Stockholders) pursuant to the Company's shelf registration statement previously filed with the Securities and Exchange Commission. The Selling Stockholders will receive all of the proceeds from this offering. No shares are being sold by the Company or any of its officers or directors in the offering. Morgan Stanley & Co. LLC is the underwriter for the offering. Full Article
Generac Holdings Inc Raises FY 2013 Guidance; Issues Q2 2013 Revenue Guidance In Line With Analysts' Estimates-Conference Call
Generac Holdings Inc announced that for fiscal 2013, it is raising sales guidance and expects net sales to increase in the low- to mid-teens range over fiscal 2012 as compared to the approximately 10% sales increase previously expected and adjusted EBITDA to increase in the-low teens percentage range over fiscal 2012, which is higher than the mid-single-digit percentage range previously expected. For the second quarter of 2013, it expects net sales to increase between 30% and 35% in comparison to the second quarter of 2012. The Company reported revenue of $1.176 billion and EBITDA of $289.8 million in fiscal 2012; revenue of 239.14 million in the second quarter of 2012. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $1.33 billion and EBITDA of $308 million for fiscal 2013 and revenue of $314 million for the second quarter of 2013. Full Article
Generac Holdings Inc Announces Proposed Special Cash Dividend Of Up To $5 Per Share To Shareholders
Generac Holdings Inc announced ts plan to execute a recapitalization in which it intends to incur, subject to market and other conditions, approximately $335 million of additional debt to fund a special cash dividend of up to $5 per share on its outstanding common stock. The Company expects Board of Directors to declare and the Company to pay the special cash dividend before the end of the second quarter of 2013. Full Article
Generac Holdings Inc Announces Pricing Of Secondary Offering
Generac Holdings Inc announced that the pricing of an underwritten secondary offering of 10,000,000 shares of its common stock by funds affiliated with CCMP Capital (the Selling Stockholders) at a price to the public of $35.00 per share pursuant to the Company`s shelf registration statement previously filed with the Securities and Exchange Commission. The Selling Stockholders will receive all of the proceeds from this offering. No shares are being sold by the Company or any of its officers or directors in the offering. Morgan Stanley & Co. LLC is the underwriter for the offering. Full Article
Generac Holdings Inc Issues FY 2013 Guidance Above Analysts' Estimates
Generac Holdings Inc announced that for fiscal 2013, it expects net sales to increase approximately 10% as compared to the prior year. This top-line guidance assumes no material changes in the current macroeconomic environment and no major power outage events for the remainder of 2013. Adjusted EBITDA fiscal 2013 is expected to increase in the mid single digit percentage range as compared to fiscal 2012. The Company reported revenue of $1.176 billion and EBITDA of $289.8 million in fiscal 2012. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $1.24 billion and EBITDA of $302 million for fiscal 2013. Full Article
Generac Holdings Inc Announces Withdrawal of Secondary Offering Due to Market Conditions
Generac Holdings Inc announced that due to market conditions, the secondary offering of shares of its common stock by certain selling stockholders, which the Company announced on November 26 2012 is being withdrawn from the marketplace. Full Article
Generac Holdings Inc Announces Secondary Offering
Generac Holdings Inc announced that underwritten secondary offering of 11,500,000 shares of its common stock by certain selling stockholders pursuant to the Company's shelf registration statement filed with the Securities and Exchange Commission. In addition, the underwriters will have an option to purchase up to 1,725,000 additional shares from certain of the selling stockholders. The selling stockholders include funds affiliated with CCMP Capital and members of the Company's board of directors and senior management. The selling stockholders will receive all of the proceeds from this offering. No shares are being sold by the Company. Goldman, Sachs & Co., J.P. Morgan Securities LLC, BofA Merrill Lynch and Robert W. Baird & Co. Incorporated are the bookrunning managers for the offering. Full Article
Generac Holdings Inc's Subsidiary To Acquire Ottomotores UK Limited From TT Electronics plc's Subsidiary
Generac Holdings Inc announced that one of its subsidiaries has signed a definitive share purchase agreement to acquire from a subsidiary of TT electronics plc all of the shares of Ottomotores UK Limited and its affiliates, including the operations of Ottomotores Mexico and Ottomotores Brazil, (collectively Ottomotores) for $46.5 million in cash, subject to certain closing net asset adjustments. Following the close of the transaction, Ottomotores’ management team will continue to lead the company and Generac will maintain the Ottomotores brand name in the market place. It is expected that the transaction will close before the end of January 2013 pending receipt of all customary and required regulatory approvals. Full Article
Generac Holdings Inc Raises FY 2012 Guidance
Generac Holdings Inc revised upward its guidance for the remainder of fiscal 2012 due to increased demand for home standby and portable generators in the fourth quarter as a result of major power outage activity that is currently taking place. For fiscal 2012, it now expects total net sales to increase in the low-40% range over the prior year, which represents an increase from the low-30% range previously provided. As a result of the higher sales outlook, adjusted EBITDA for fiscal 2012 is now expected to increase in the mid-40% range over the prior year, which is an increase from the mid-30% growth rate previously expected. Diluted net income per common share for fiscal 2012 is now expected to be in the range of $1.21 to $1.27 as compared to the $1.02 to $1.08 range previously expected and adjusted diluted net income per common share is now expected to be $2.95 to $3.00 relative to the previous expectation of $2.65 to $2.70. Full Article
Generac Holdings Inc Updates Q3 2012 Guidance; Raises FY 2012 Guidance
Generac Holdings Inc announced that as a result of the increased demand, it expects net sales to be in the range of $295.0 to $300.0 million, net income to be between $21.5 to $25.0 million, with diluted net income per common share (EPS) of $0.31 to $0.36, adjusted net income to be between $49.5 to $53.0 million, with adjusted diluted net income per common share of $0.72 to $0.77 and adjusted EBITDA to be in the range of $72.0-$75.0 million during the third quarter of 2012. Due to this outperformance for residential product sales, fiscal 2012 total net sales are now expected to increase in the low-30% range over the prior year. As a result of this higher sales outlook, adjusted EBITDA for fiscal 2012 is now expected to increase in the mid-30% range over the prior year. Diluted net income per common share for fiscal 2012 is expected to be in the range of $1.02 to $1.08, with adjusted diluted net income per common share of $2.65 to $2.70. This updated guidance continues to assume no material changes in the macroeconomic environment, as well as no additional major power outage events during the remainder of 2012. Full Article
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