Generac Q3 Record Sales $1.29B; Data Center Backlog Grows to ~$4.5B, EBITDA Margin Guidance Raised
GNRC sits 45% above its 52-week low of $134.8.
Summary
Generac posted record Q3 sales of $1.29 billion and $1.83 EPS, and disclosed its data center backlog has grown to roughly $4.5 billion while nudging full-year adjusted EBITDA margin guidance higher.
Key Events · Earnings and Guidance · GNRC
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Record Q3 Sales of $1.29B
Net sales rose 16% to a record $1.29 billion from $1.11 billion, with net income of $109 million, or $1.83 per diluted share, versus $66 million, or $1.12, a year earlier.
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Data Center Backlog Reaches ~$4.5B
Backlog for products sold to the data center market has grown to approximately $4.5 billion, following the Amazon long-term supply agreement whose initial deliveries are expected to total $2.4 billion in 2027 and 2028.
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EBITDA Margin Guidance Nudged Higher
Full-year 2026 adjusted EBITDA margin guidance is now approximately 20.5-21.0%, up from the prior 20.0-21.0% range, while net sales growth guidance stays in the mid-to-high teens percent range.
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Residential Returns to 9% Growth
Residential external net sales rose about 9% to $743 million and segment Adjusted EBITDA reached $200.8 million, or 27.0% of segment sales, versus 23.4% a year ago.
Analysis · GNRC · Manufacturing
Generac beat on the top line with record quarterly sales and nearly doubled net income, but the number that matters is the data center backlog: roughly $4.5 billion, up sharply after the Amazon supply agreement that initial deliveries of $2.4 billion in 2027-2028 underpin. That backlog is the clearest evidence the data center buildout is converting into contracted revenue rather than just orders, and it is why management could nudge full-year adjusted EBITDA margin guidance up to 20.5-21.0% from 20.0-21.0% while keeping sales growth in the mid-to-high teens. The residential segment also returned to 9% growth, so the story is no longer only data centers. The offset is that the stock already jumped 18% on the Amazon news in September, so much of this is confirmation rather than surprise.
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At the time of this filing, GNRC was trading at $195.53 on NYSE in the Manufacturing sector, with a market capitalization of approximately $11.5B. The 52-week trading range was $134.80 to $296.44. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.