Why Generac Rallied Today
Shares of on-premise generator company Generac (NYSE: GNRC) rallied on Wednesday, up 16.2% as of 1:32 p.m. ET.
Generac reported earnings today that beat analyst expectations across the board; meanwhile, the company also raised the lower end of its full-year guidance, as first-half results appeared to de-risk the outlook while adding to optimism for future beats.
In the second quarter, Generac saw revenue rise 6.2%, with residential growth up 7% and commercial and industrial growth of 5%. Meanwhile, adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) margins increased from 16.5% to 17.7%. Combined with share repurchases, which lowered the share count, adjusted non-GAAP (generally accepted accounting principles) earnings per share surged 22.2% to $1.65, beating expectations.
Source Fool.com
