Generac二季度EPS大超预期并上调利润率指引，数据中心备用发电机订单和积压继续扩大

Generac Holdings (GNRC) jumped about 8% in premarket trading Wednesday after reporting quarterly earnings that topped Wall Street expectations and raising its profitability outlook, overshadowing revenue that came in just shy of analysts' forecasts. Shares of the power equipment maker had already climbed about 43% this year through Tuesday's close.
Second-quarter net sales were $1.17 billion, up 11% from a year earlier and narrowly below Wall Street's consensus estimate of $1.18 billion.
Adjusted earnings rose to $2.91 a share, easily surpassing analysts' estimate of $2.01.
Net income rose to $143 million, or $2.40 a share, from $74 million, or $1.25 a share.
"Second quarter results reflect continued momentum in our C&I segment driven by strong data center market revenue as we continue to ramp production for large megawatt backup generators," President and Chief Executive Officer Aaron Jagdfeld said.
For investors, the results reinforce Generac's (GNRC) transformation from a company known primarily for residential backup generators into a fast-growing supplier of large backup power systems for AI data centers. Commercial and industrial demand continues to accelerate, helping offset slower residential sales while expanding margins and supporting a growing backlog.
Generac (GNRC) maintained its forecast for full-year net sales growth in the mid-to-high teens while raising its adjusted earnings before interest, taxes, depreciation and amortization margin outlook to 20.0% to 21.0% from a previous range of 18.5% to 19.5%. Management said the increase primarily reflects tariff refunds recorded during the second quarter.
Commercial and industrial sales surged 29% to $556 million, fueled by growing shipments of large backup generators for hyperscale data centers. Residential sales slipped 2% to $617 million as lower shipments of energy storage systems and portable generators were mostly offset by stronger home standby generator sales.
Adjusted earnings before interest, taxes, depreciation and amortization increased to $291 million, or 24.8% of sales, from $188 million, or 17.7% a year earlier. Operating cash flow rose to $121 million from $72 million, while free cash flow more than quadrupled to $63 million.
Generac (GNRC) also strengthened its position in the rapidly expanding AI infrastructure market. During the quarter, the company signed a global supply agreement with a second hyperscale data center customer and said it has received roughly $1 billion of additional orders since its previous update. Backlog for products serving the data center market has grown to about $1.6 billion, excluding future committed volumes from the second hyperscale customer.
Best known for its residential standby generators, portable generators and commercial backup power systems, Generac (GNRC) said it continues to invest aggressively in production capacity for large megawatt generators to meet accelerating demand from data center operators.