Generac Holdings Inc. (NYSE:GNRC) Files An 8-K Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition
On May 2, 2019, Generac Holdings Inc. (the Company, we, us or our) issued a press release (the Press Release) announcing its financial results for the first quarter ended March 31, 2019. A copy of the Press Release is attached hereto as Exhibit99.1 and is incorporated herein by reference.
The information contained in this Current Report on Form8-K (including the exhibits) is being furnished and shall not be deemed filed for the purposes of Section18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liabilities of that Section. The information contained in this Current Report on Form8-K shall not be incorporated by reference into any registration statement or other document to the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in any such filing.
Discussion of Non-GAAP Financial Measures
In the Press Release, we present certain financial information, specifically Adjusted EBITDA, Adjusted Net Income, Free Cash Flow, and Core Sales, which are not in accordance with generally accepted accounting principles (U.S. GAAP). We present Adjusted EBITDA, Adjusted Net Income, Free Cash Flow, and Core Sales in the Press Release because these metrics assist us in comparing our performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. Our management uses Adjusted EBITDA, Adjusted Net Income, Free Cash Flow, and Core Sales:
We also use Adjusted EBITDA as a benchmark for the determination of the bonus component of compensation for our senior executives under our management incentive plans.
We believe that the disclosure of Adjusted EBITDA, Adjusted Net Income, Free Cash Flow, and Core Sales offers additional financial metrics which, when coupled with U.S. GAAP results and the reconciliation to U.S. GAAP results, provide a more complete understanding of our results of operations and the factors and trends affecting our business for securities analysts, investors and other interested parties in the evaluation of our company. We believe Adjusted EBITDA, Adjusted Net Income, Free Cash Flow, and Core Sales are useful to investors for the following reasons:
Item 9.01 Financial Statements and Exhibits
GENERAC HOLDINGS INC. Exhibit
EX-99.1 2 ex_142580.htm EXHIBIT 99.1 ex_142580.htm Exhibit 99.1 Generac Reports First Quarter 2019 Results Strong end market fundamentals drive increased 2019 outlook; Recent acquisitions accelerate entry into rapidly developing energy management and storage market WAUKESHA,…
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About Generac Holdings Inc. (NYSE:GNRC)
Generac Holdings Inc. (Generac) is a designer and manufacturer of a range of power generation equipment and other engine powered products. The Company serves the residential, light commercial, industrial, oil and gas, and construction markets. The other engine powered products that the Company designs and manufactures include light towers, which provide temporary lighting for various end markets; commercial and industrial mobile heaters used in the oil and gas, construction and other industrial markets, and a product line of outdoor power equipment for residential and commercial use. It designs, manufactures, sources and modifies engines, alternators, transfer switches and other components necessary for its products, which are fueled by natural gas, liquid propane, gasoline, diesel and Bi-Fuel. It classifies its products into three categories: Residential products, Commercial & Industrial (C&I) products, and Other products.