Financial Performance & Outlook - Generac's LTM net sales reached $4316.8 million[62], reflecting a 6.2% year-over-year increase[111] - The adjusted EBITDA for the LTM period was $729.0 million[62], with an adjusted EBITDA margin of 16.9%[111] - The company anticipates a decrease in consolidated revenue between 6% to 10% for 2023[69], with residential products expected to decline at a high-teens rate[69], while C&I products are projected to increase at a mid-to-high single-digit rate[69] - The company expects adjusted EBITDA margins to be between 17.0% and 18.0% for 2023[65] Market Trends & Growth Strategy - The company estimates a projected ~5X expansion of Served Addressable Market (SAM) since 2018, from $14 billion in 2018 to $72 billion in 2025[39] - Residential segment accounted for 59% of the company's sales, while Commercial & Industrial contributed 31%[15] - The company estimates that the three largest markets (CA, TX, & FL) combined represent ~25% of addressable HHs, and are significantly underpenetrated at ~3.5%[44] - The company has been actively pursuing acquisitions, with 28 deals completed since 2011[64], to accelerate its "Powering a Smarter World" strategic plan[86] Grid Services & Clean Energy - In 2022, Generac Grid Services delivered 10 GWh of capacity during peak demand periods[58] - The company's software facilitated approximately 8,000 hours of DER dispatch from 20,500 devices in 2022[58] - The company estimates $10+ billion domestic SAM BY 2025 in broad residential clean energy product offering[48]