Generac (US:GNRC)2025-06-24 09:44Financial Performance & Guidance - Generac's revenue CAGR was 15% from the 2010 IPO through 2024F[21] - The company anticipates consolidated net sales to increase between 3% and 7% in 2024[90] - Residential product sales are expected to increase at a mid-teens rate, while C&I products are projected to decrease approximately 10% in 2024[90] - Adjusted EBITDA margins are projected to be between 16.5% and 17.5% for 2024[86] - The company expects approximately 100% conversion of adjusted net income to free cash flow in 2024[88] - In Q4 2023, Net Sales were $1063.7 million, representing a 1.4% year-over-year increase, and full year 2023 Net Sales reached $4022.7 million, a decrease of 11.9%[108] Market Opportunity & Strategy - Generac projects an approximately 5X expansion of its Served Addressable Market (SAM) from $14 billion in 2018 to $66 billion in 2026[40] - The company's strategy evolution unlocks a massive and growing SAM[40] - The Global Residential SAM is projected to increase from $22.4 billion in 2022 to $36.6 billion in 2026[46] - The Global C&I SAM is projected to increase from $16 billion in 2022 to $29.8 billion in 2026[73]