Generac Holdings (GNRC) Q1 FY2026 earnings: revenue $1.1 billion, up 12.4% on the year

Generac Holdings Inc. (GNRC) reported revenue of $1.1 billion for Q1 FY2026, the quarter ended 31 March 2026, up 12.4% on the same quarter a year earlier. Net income was $73 million, up 67.1% on the year, and diluted earnings per share $1.24. The figures are the company's own, from the 10-Q it filed with the SEC on 5 May 2026.

Revenue

$1.1 billion

+12.4% on the year · -2.9% on the quarter

Q2 FY2024Q1 FY2026

Operating margin

11.1%

8.9% a year earlier

Q2 FY2024Q1 FY2026

Net income

$73 million

+67.1% on the year

Q2 FY2024Q1 FY2026

Diluted EPS

$1.24

+69.9% on the year

Q2 FY2024Q1 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 3 raised, 2 kept.

Net sales rose 12% on acquisitions: Net sales reached $1.06 billion. Acquisitions, divestitures and foreign currency added a net 4 points. Residential sales rose about 1% and C&I sales about 28%.
Adjusted EBITDA margin rose to 18.3%: Adjusted EBITDA before noncontrolling interests was $193 million, or 18.3% of net sales, against $150 million, or 15.9%, in the prior year.
Residential margin rose to 25.1%: Residential adjusted EBITDA was $138.6 million, or 25.1% of segment sales, against $111.6 million, or 20.3%, a year earlier. The company cited efficiencies and price realization.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Revenue	1,059	1,092	942	-2.9%	+12.4%
Cost of revenue	649	695	570	-6.7%	+13.9%
Gross profit	410	396	372	+3.6%	+10.3%
Gross margin	38.7%	36.3%	39.5%
Research and development	62.7	61.0	62.0	+2.7%	+1.0%
Operating income	117	-9.3	83.6		+40.2%
Operating margin	11.1%	-0.9%	8.9%
Interest expense	15.4	16.9	17.1	-8.9%	-10.1%
Pre-tax income	96.8	-27.6	58.5		+65.4%
Income tax	23.6	-3.7	14.2		+66.1%
Effective tax rate	24.4%	n/a	24.3%
Net income	73.3	-24.5	43.8		+67.1%
Net margin	6.9%	-2.2%	4.7%
Diluted EPS	$1.24	-$0.42	$0.73		+69.9%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Operating cash flow	119	189	58.2	-37.0%	+105.1%
Capital expenditure	29.4	59.3	30.9	-50.4%	-5.0%
Free cash flow	89.9	130	27.2	-30.8%	+230.3%
Free cash flow margin	8.5%	11.9%	2.9%
Cash from investing	-154	-57.4	-33.5
Cash from financing	-41.4	-91.4	-120
Depreciation and amortisation	56.0	51.2	46.1	+9.4%	+21.3%
Share-based compensation	13.4	10.8	11.6	+24.0%	+15.8%
Buybacks	0.0	0.0	97.5
Diluted shares, weighted	59m	58m	60m	+1.6%	-0.9%
Shares outstanding at period end	59m	59m	59m	+0.3%	-0.4%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Shareholders' equity	2,675	2,632	2,469	+1.6%	+8.3%
Non-controlling interest	0.0	5.9	3.8	-99.9%	-99.8%
Redeemable equity	0.6	0.7	n/a	-18.9%
Debt	1,324	1,333	1,325	-0.7%	-0.1%
Operating lease liabilities	n/a	36.1	n/a
Finance lease liabilities	n/a	81.5	n/a
Other liabilities	1,594	1,484	1,263	+7.4%	+26.2%
Total liabilities and equity	5,593	5,574	5,060	+0.4%	+10.5%
Fixed assets	820	814	710	+0.7%	+15.5%
Goodwill	1,487	1,467	1,443	+1.3%	+3.1%
Intangible assets	n/a	675	n/a
Cash and equivalents	266	341	187	-22.2%	+41.6%
Receivables	627	603	590	+4.0%	+6.2%
Inventory	1,252	1,249	1,095	+0.2%	+14.3%
Other assets	1,143	425	1,036	+169.1%	+10.4%
Total assets	5,593	5,574	5,060	+0.4%	+10.5%

Questions

What was Generac Holdings' revenue in Q1 FY2026?

Generac Holdings (GNRC) reported revenue of $1.1 billion for Q1 FY2026, the quarter ended 31 March 2026, up 12.4% on the same quarter a year earlier.

How much did Generac Holdings earn in Q1 FY2026?

Net income for Q1 FY2026 was $73 million, up 67.1% on the year, and diluted earnings per share $1.24.

When did Generac Holdings report Q1 FY2026 results?

Generac Holdings filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 5 May 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	1,067	1,136	1,291	1,088	1,049	888	1,000	1,071	1,064	889	998	1,174	1,235	942	1,061	1,114	1,092	1,059	1,174	1,295
Cost of revenue	705	775	834	727	706	615	672	695	675	573	623	701	733	570	644	687	695	649	652	779
Gross profit	363	361	457	361	343	272	328	376	389	316	376	472	501	372	417	427	396	410	522	516
Gross margin	34%	32%	35%	33%	33%	31%	33%	35%	37%	36%	38%	40%	41%	39%	39%	38%	36%	39%	44%	40%
R&D	29.4	39.7	41.6	40.0	38.4	41.8	43.9	43.3	44.4	49.4	54.0	56.9	59.3	62.0	60.4	60.1	61.0	62.7	65.8	63.8
Operating income	175	155	217	87.5	107	44.5	86.0	105	151	66.9	103	169	198	83.6	112	103	-9.3	117	210	161
Operating margin	16%	14%	17%	8%	10%	5%	9%	10%	14%	8%	10%	14%	16%	9%	11%	9%	-1%	11%	18%	12%
Interest expense	9.5	9.6	10.2	15.5	19.5	23.0	25.2	24.7	24.8	23.6	23.3	22.9	19.9	17.1	18.2	18.5	16.9	15.4	16.8	16.4
Pre-tax income	167	146	203	72.0	87.5	22.0	61.4	80.1	127	38.5	78.7	147	145	58.5	89.9	78.3	-27.6	96.8	190	143
Tax rate	12%	20%	23%	16%	16%	36%	26%	24%	24%	31%	25%	23%	19%	24%	17%	15%	n/a	24%	25%	24%
Net income	143	114	156	58.3	71.0	12.4	45.2	60.4	96.6	26.2	59.1	114	117	43.8	74.0	66.2	-24.5	73.3	143	109
Net margin	13%	10%	12%	5%	7%	1%	5%	6%	9%	3%	6%	10%	9%	5%	7%	6%	-2%	7%	12%	8%
Diluted EPS	$2.04	$1.57	$2.21	$0.83	$0.83	$0.05	$0.70	$0.97	$1.57	$0.39	$0.97	$1.89	$2.15	$0.73	$1.25	$1.12	-$0.42	$1.24	$2.40	$1.83
Operating cash flow	61.8	-10.1	23.8	-56.0	101	-18.6	83.1	140	317	112	77.7	212	339	58.2	72.2	118	189	119	121	171
Capital expenditure	22.5	28.2	18.3	18.3	21.4	24.0	29.9	23.8	51.3	26.8	28.0	28.6	53.3	30.9	57.7	21.9	59.3	29.4	58.3	39.2
Free cash flow	39.2	-38.3	5.5	-74.4	79.5	-42.5	53.2	116	266	85.1	49.7	184	286	27.2	14.5	96.5	130	89.9	62.9	132
Buybacks	n/a	n/a	n/a	n/a	n/a	n/a	n/a	100	n/a	0.0	50.6	102	0.0	97.5	50.5	0.0	0.0	0.0	0.0	0.0
Dividends paid	0.0	n/a	n/a	n/a	n/a	0.0	0.0	0.0	0.0	n/a	n/a	0.0	n/a	n/a	n/a	0.0	n/a	n/a	n/a	0.0
Shares outstanding	64m	64m	64m	63m	62m	62m	62m	61m	60m	61m	60m	59m	60m	59m	59m	59m	59m	59m	59m	59m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2026, filed 5 May 2026: the filing.