Generac (US:GNRC)2025-06-24 09:56Financial Performance - Generac's LTM net sales reached $3.2 billion[12], with an LTM adjusted EBITDA of $807 million[12], representing a 25.3% margin[12] - The company's LTM free cash flow was $561 million[12] - In Q2 2021, net sales were $920 million[111], a 68.2% increase year-over-year[111], with residential sales at $600 million[111], up 75.8%[111] - The company's gross margin was 38.8%[57] - The company's adjusted EBITDA margin was between 24.5% and 25.0%[65] Strategic Direction - Generac is evolving into an "Energy Technology Solutions" company[27], expanding beyond traditional generators to include energy storage and grid services[21] - The company is focused on residential and commercial & industrial distributed energy resources (DERs)[22], aiming to create a Virtual Power Plant (VPP) network[25] - The company has made acquisitions to bolster its capabilities in electronics and controls, and to enter the solar-only inverter market[44, 45] - The global residential solar-only inverter market is estimated to reach ~$4.5 billion by 2023 from ~$2.5 billion in 2020[45] Market Opportunity - The company estimates that every 1% of increased penetration in the US home standby generator market equals ~$2.5 billion of market opportunity[20, 93]