EarningsQ2 2026 Earnings Report
MX:GNRC Q2 2026 EPS Results
Actual EPS$52.66
Consensus EPS$36.41
Beat/MissBeat by +$16.25
One Year Ago EPS$29.86
MX:GNRC Q2 2026 Revenue Results
Actual Revenue$21.24B
Expected Revenue$21.31B
Beat/MissMissed by -$79.80M
YoY Revenue Growth+10.59%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeBefore Open
Conference CallWednesday, July 29, 2026
MX:GNRC Upcoming Earnings
Generac Holdings's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:GNRC Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong momentum in the Commercial & Industrial business driven by data center demand—evidenced by substantial backlog growth, new hyperscale agreements (~$700 million in the first hyperscaler commitment), upgraded C&I guidance (now low-30s% growth), production capacity acceleration, and materially improved adjusted EBITDA and cash generation. However, a meaningful portion of margin expansion was attributable to a one-time $71 million tariff refund, and the company faces execution and supply-chain risk as it rapidly expands assembly and packaging capacity. Residential demand showed softness (down ~2%) and guidance was modestly lowered due to weak outage activity and policy/headwind impacts for solar/storage. On balance, the operational wins, larger long-term opportunity in data centers, improved cash flow, and upgraded C&I outlook outweigh the lowlights tied to one-time effects and execution risks, indicating a favorable overall tone with some execution caveats.Company Guidance
Consolidated Revenue Growth
Net sales increased 11% year-over-year to $1.17 billion in Q2 2026 from $1.06 billion, driven primarily by C&I strength and data center product shipments.
Commercial & Industrial (C&I) Surge
C&I total sales rose ~29% to $556 million from $431 million year-over-year, led by ramping data center revenue and strength in rental and telecom channels; full-year C&I net sales growth guidance raised to the low-30s percent range (up from mid- to high-20s).
Material Data Center Backlog and Contracts
Data center backlog reached $1.6 billion after roughly $1.0 billion of new orders in the last 90 days; recognized >$100 million of data center revenue in the quarter and secured two multiyear hyperscale supply agreements (first includes commitments ~ $700 million for 2027 deliveries); company now expects nearly $450 million in data center revenue for full-year 2026 (increase to prior expectation).
Strong Adjusted EBITDA and Margin Expansion
Consolidated adjusted EBITDA was $291 million, representing 24.8% of net sales versus 17.7% in the prior-year quarter; gross profit margin expanded to 44.5% from 39.3% year-over-year, and adjusted EBITDA margin guidance (including one-time tariff impact) now at 20%–21% for full year 2026.
Residential Home Standby Resilience
Home standby generator sales returned to solid growth in Q2 and dealer network expanded to ~9,700 dealers (increase of ~400 YoY); in-home consultations (IHCs) were up YoY and next-generation 28 kW air-cooled product saw faster-than-expected uptake.
Cash Flow and Profitability Improvements
GAAP net income rose to $143 million from $74 million YoY; diluted GAAP EPS $2.40 vs $1.25 prior year. Adjusted net income $174 million ($2.91/share) vs $97 million ($1.65/share). Cash flow from operations improved to $121 million (vs $72 million) and free cash flow increased to $63 million (vs $14 million).
Strategic Capacity & Vertical Integration Investments
Completed Enercon acquisition, purchased Belvidere facility (expected operational Q1 2027), accelerated Sussex production (on track to begin by end of Q3, ahead of schedule), and outlined a path to triple packaging/assembly capacity from original $1.25B year-end 2026 target within ~12 months to meet data center demand.
M&A and Product Wins Performing Above Expectations
Allmand acquisition exceeding sales and adjusted EBITDA expectations; ecobee posted profitable top-line growth and grew connected homes to >5.25 million (mid-teens YoY growth).
Improved Leverage and Capital Guidance
Total debt ~$1.33 billion with gross debt leverage ~1.5x adjusted EBITDA (inside target 1–2x range). Full-year free cash flow still expected to be ~ $350 million despite elevated CapEx to support capacity expansion (CapEx ~4.5% of forecasted net sales).
MX:GNRC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed