Table of Contents FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 Or Commission File Number 001-34627 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 GENERAC HOLDINGS INC. (Mark One) (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ...

Generac Holdings Inc. (NYSE:GNRC) Q4 2020 Earnings Conference Call February 11, 2021 11:00 AM ET Company Participants Mike Harris - Vice President of Corporate Development & Investor Relations Aaron Jagdfeld - President & Chief Executive Officer York Ragen - Chief Financial Officer Conference Call Participants Philip Shen - ROTH Capital Tommy Moll - Stephens Ross Gilardi - Bank of America Mike Halloran - Baird Christopher Glynn - Oppenheimer Jed Dorsheimer - Canaccord Genuity Jerry Revich - Goldman Sachs Op ...

For the transition period from to Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Not Applicable (Former name, former address and former fiscal year, if changed since last report) Commission File Number 001-34627 GENE ...

Generac Holdings Inc. (NYSE:GNRC) Q3 2020 Earnings Conference Call October 28, 2020 10:00 AM ET Company Participants Mike Harris - Vice President of Corporate Development & Investor Relations Aaron Jagdfeld - President & Chief Executive Officer York Ragen - Chief Financial Officer Conference Call Participants Tom Hayes - Northcoast Research Jed Dorsheimer - Canaccord Genuity Philip Shen - ROTH Capital Mark Strouse - JPMorgan Brian Drab - William Blair Ross Gilardi - Bank of America Jeff Hammond - KeyBanc To ...

Generac Holdings Inc. (NYSE:GNRC) Q2 2020 Earnings Conference Call July 30, 2020 9:00 AM ET Company Participants Mike Harris - IR Aaron Jagdfeld - CEO York Ragen - CFO Conference Call Participants Brian Drab - William Blair Mike Halloran - Baird Christopher Glynn - Oppenheimer Philip Shen - ROTH Capital Partners Mark Strouse - JPMorgan Ross Gilardi - Bank of America Jerry Revich - Goldman Sachs Jed Dorsheimer - Canaccord Genuity William Grippin - UBS Operator Ladies and gentlemen, thank you for standing by, ...

GENERAC® 1 Investor Presentation MAY 2020 AND AND INCLUB AND AND AND AND AND AND AND AND AND AND AND AND AND AND AND A BREAD AND A BREAD A BREAK AND A BREAK AND A BREAK A BEA Generac's mission is to ensure peace of mind by developing power products and solutions that make the world safer, brighter and more productive. York Ragen CHIEF FINANCIAL OFFICER Investor Relations CONTACTS Aaron Jagdfeld PRESIDENT & CEO Mike Harris VICE PRESIDENT – CORPORATE DEVELOPMENT & INVESTOR RELATIONS (262) 506-6064 InvestorRel ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-34627 GENERAC HOLDINGS INC. (Exact name of registrant as specified in its charter) FORM 10-Q (State or other jurisdiction of (IRS Emp ...

Generac Holdings Inc. (NYSE:GNRC) Q1 2020 Results Conference Call April 30, 2020 9:00 AM ET Company Participants Mike Harris - VP, Corporate Development and IR Aaron Jagdfeld - President and CEO York Ragen - CFO Conference Call Participants Brian Drab - William Blair Mike Halloran - Baird Christopher Glynn - Oppenheimer Jerry Revich - Goldman Sachs Jeff Hammond - KeyBanc Capital Markets Ross Gilardi - Bank of America Phil Shen - Roth Capital Partners Joseph Osha - JMP Group Operator Ladies and gentlemen, th ...

Investment and Acquisitions - The company has invested in automation and expanded manufacturing capacity through acquisitions, believing it has sufficient capacity to meet near-to-intermediate term business goals[60] - The company has made acquisitions such as Pika Energy and Neurio Technologies to enhance capabilities in energy storage and monitoring markets, providing advanced power electronics and battery management software[61] - The Company acquired Neurio for a purchase price of $59.1 million, recording approximately $58.8 million of intangible assets, including $17.9 million of goodwill as of the acquisition date[290] - The Company also acquired Pika for a purchase price of $49.1 million, resulting in approximately $58.2 million of intangible assets, including $19.9 million of goodwill[291] - The company acquired a majority share of Captiva Energy Solutions in February 2019, enhancing its market presence in India[321] - Generac Holdings Inc. has executed multiple acquisitions to support its strategic plan, including Neurio Technology Inc. and Pika Energy, both acquired in 2019[321] Financial Performance - Net sales for 2019 reached $2,204,336, an increase of 8.93% from $2,023,464 in 2018[311] - Gross profit for 2019 was $797,752, representing a gross margin of approximately 36.2%, up from $725,040 in 2018[311] - Operating income increased to $372,163 in 2019, compared to $357,181 in 2018, reflecting a growth of 4.4%[311] - Net income attributable to Generac Holdings Inc. for 2019 was $252,007, a rise of 5.8% from $238,257 in 2018[311] - Total assets as of December 31, 2019, were $2,665,669, up from $2,426,314 in 2018, marking an increase of 9.9%[309] - Total liabilities decreased to $1,571,591 in 2019 from $1,604,049 in 2018, a reduction of 2.0%[309] - Cash and cash equivalents increased to $322,883 in 2019, compared to $224,482 in 2018, reflecting a growth of 43.8%[309] - Research and development expenses rose to $68,394 in 2019, up from $50,019 in 2018, indicating a 36.6% increase[311] - Retained earnings grew significantly to $1,084,383 in 2019, compared to $831,123 in 2018, an increase of 30.4%[309] - The company reported a total stockholders' equity of $1,032,851 as of December 31, 2019, compared to $761,261 in 2018, reflecting a growth of 35.6%[309] Market Risks and Financial Instruments - The company is exposed to market risks from foreign currency exchange rates, commodity prices, and interest rates, utilizing financial instruments to mitigate these risks[274] - The company has outstanding interest rate swap contracts totaling $625 million, with fixed LIBOR rates ranging from 1.9053% to 2.3673%[279] - A hypothetical change in the LIBOR interest rate of 100 basis points would have changed annual cash interest expense by approximately $4.0 million in 2019[281] - The fair value of interest rate swaps was a liability of $10.6 million as of December 31, 2019[281] Research and Development - The research and development team consists of over 500 engineers focused on power generation equipment and energy storage systems, with expertise in natural gas engines and emissions technology[61] - Total expenditures for research and development were $68,394 million, $50,019 million, and $42,869 million for the years ended December 31, 2019, 2018, and 2017, respectively[342] Internal Controls and Compliance - The internal control over financial reporting was maintained effectively as of December 31, 2019, according to the audit opinion[298] - The Company’s internal control assessment excluded Neurio and Pika, which constituted 5.0% and 2.8% of net and total assets, respectively[300] Goodwill and Intangible Assets - The Latin America reporting unit's carrying value of goodwill was approximately $48.1 million, with an estimated fair value exceeding its carrying value by approximately 10%[294] - The Company recorded a significant amount of intangible assets based on estimates of future cash flows, requiring management to make subjective judgments[292] - The Company’s annual impairment assessment indicated no impairment for the Latin America reporting unit, reflecting recovering end markets and improving profit margins[294] - The Company recorded approximately $58,196 of intangible assets from the Pika acquisition, including $19,896 of goodwill[359] - The Company recorded approximately $58,762 of intangible assets from the Neurio acquisition, including $17,862 of goodwill[361] Taxation - The provision for income taxes in 2019 was $67.30 million, a decrease from $69.86 million in 2018[432] - Total deferred tax assets increased to $81.82 million in 2019 from $68.35 million in 2018, while total deferred tax liabilities rose to $175.22 million from $139.48 million[435] - The effective tax rate for 2019 was 21.1%, slightly lower than 22.5% in 2018[443] - The Company had unrecognized tax benefits of $6.72 million as of December 31, 2019, up from $5.64 million in 2018[438] Employee Benefits - Contributions to medical and dental benefit plans for employees were $18.29 million in 2019, compared to $14.66 million in 2018[445] Other Financial Metrics - The Company reported a loss on pension settlement of $10,920,000 in 2019, which was not present in 2018[316] - The total comprehensive loss for the year ended December 31, 2019, was $(24,917), compared to $(23,813) in 2018, indicating a worsening of the comprehensive loss[396] - The Company’s net secured leverage ratio was 1.50 to 1.00 times as of December 31, 2019, indicating compliance with all covenants of the Term Loan[422] - The Company made a voluntary prepayment of $49,000 on the term loan in December 2019, resulting in a write-off of $926 of original issue discount[421]

Financial Data and Key Metrics Changes - The fourth quarter of 2019 saw record quarterly revenue, with net sales increasing by 4.9% to $590.9 million compared to $563.4 million in Q4 2018 [55] - For the full year 2019, revenue grew by 9% to $2.20 billion, marking an all-time record for the company [13][56] - Adjusted EBITDA for Q4 2019 was $129.1 million, with a margin of 21.9%, compared to $126.1 million and 22.4% in the prior year [68][69] - Free cash flow reached a record $250.7 million for the full year 2019, up from $203.6 million in 2018 [83] Business Line Data and Key Metrics Changes - Residential product sales in Q4 2019 increased by 9.7% to $322.5 million, driven by strong demand for home standby generators [56] - Commercial and industrial (C&I) product sales declined by 2.7% to $217.1 million in Q4 2019, with core growth declining approximately 3% [60] - The other products and services category, which includes aftermarket service parts, increased by 10.8% to $51.3 million [63] Market Data and Key Metrics Changes - Home standby generator shipments increased significantly in California due to power shut-off events, with residential product shipments to the state rising by over $50 million compared to the previous year [15][20] - The market for emergency backup power in California is projected to grow significantly, with penetration rates currently at approximately 1% [29][30] Company Strategy and Development Direction - The company is focusing on expanding its clean energy efforts, including energy storage and monitoring markets, following strategic acquisitions of Pika and Neurio [16][33] - Generac aims to position itself as a key player in the complete energy ecosystem, from power generation to energy management [38] - The company plans to increase operating expenses to invest in growth initiatives, with a nearly 30% increase in capital expenditures compared to 2018 [19] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future growth prospects, driven by megatrends in the energy sector and the increasing demand for clean energy solutions [54] - The company anticipates continued strong revenue growth in 2020, with net sales expected to increase between 6% to 8% [87] - Management noted that the first quarter of 2020 may see low-single-digit growth due to demand softness in telecom and international markets, but growth is expected to accelerate in the second quarter [91] Other Important Information - The company has transformed from a focus on emergency backup power to an industrial technology company with a specific focus on energy technology solutions since its IPO [51] - Generac's market share in the home standby product category improved to nearly 80% by the end of 2019 [22] Q&A Session Summary Question: How is the company seeing the relative value on the initial trust from captive legacy channels versus new partnerships in clean energy? - Management indicated that they are tapping into existing distribution channels for clean energy opportunities while also growing new channels, with a focus on educating traditional dealers about new technologies [109][112] Question: Has the company seen some states or regions move past peak penetration for core home standby? - Management acknowledged that while the Northeast has softened, overall strength in activations across regions remains robust, particularly in the West [116][120] Question: What is the company's appetite for larger clean energy storage acquisitions? - Management is open to exploring larger acquisitions in the clean energy space, emphasizing the importance of strategic fit and long-term potential despite potential short-term dilution [123][126]