WASHINGTON (dpa-AFX) - (Adds Outlook, Stock movement)
Generac Holdings Inc. (GNRC) released earnings for its third quarter that increased from the same period last year and beat the Street estimates.
The company's earnings totaled $113.742 million, or $1.89 per share. This compares with $60.377 million, or $0.97 per share, in last year's third quarter.
Excluding items, Generac Holdings Inc. reported adjusted earnings of $135.582 million or $2.25 per share for the period.
Analysts on average had expected the company to earn $1.95 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 9.6% to $1.173 billion from $1.070 billion last year.
Outlook:
Generac Holdings increased its annual sales growth guidance, citing higher than previously expected power outage activity, including the impact of Hurricane Helene and Hurricane Milton. The company now expects sales growth of 5 percent to 9 percent, higher than previous outlook of 4 percent to 8 percent for the year.
As of this writing, shares of Generac were up 4.75 percent or $7.85 at $173 in pre-market activity on the New York Stock Exchange.
Generac Holdings Q3 earnings at a glance (GAAP) :
-Earnings (Q3): $113.742 Mln. vs. $60.377 Mln. last year. -EPS (Q3): $1.89 vs. $0.97 last year. -Revenue (Q3): $1.173 Bln vs. $1.070 Bln last year.
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