WAUKESHA, Wis. — February 11, 2026 — Leads & Copy — Generac Holdings Inc. (NYSE: GNRC) has released its financial results for the fourth quarter and full year ending December 31, 2025, and has initiated its outlook for the full year 2026.
Net sales for the fourth quarter of 2025 decreased by 12% to $1.09 billion, compared to $1.23 billion in the same period last year. Acquisitions and foreign currency had a slight positive impact of 1% during the quarter. For the full year 2025, net sales decreased by 2% to $4.21 billion, compared to $4.30 billion in 2024, with acquisitions and foreign currency contributing a 1% favorable impact.
Residential product sales saw a decrease of approximately 23% in Q4 2025, totaling $572 million compared to $743 million in the previous year. This decline is attributed to continued weakness in power outage activity, leading to reduced shipments of home standby and portable generators. C&I product sales increased by approximately 10% to $400 million, driven primarily by higher revenue from products sold to data center customers.
The company reported a net loss attributable to Generac of ($24) million, or ($0.42) per share, for the fourth quarter, compared to a net income of $117 million, or $2.15 per share, for the same period in 2024. The current quarter includes a $104.5 million provision for the settlement of a legal matter. Adjusted net income attributable to the Company was $95 million, or $1.61 per share, compared to $168 million, or $2.80 per share, in the fourth quarter of 2024. For the full year, net income attributable to the Company during 2025 was $160 million, or $2.69 per share, as compared to $316 million, or $5.39 per share for 2024.
Adjusted EBITDA for the fourth quarter was $185 million, or 17.0% of net sales, compared to $265 million, or 21.5% of net sales, in the prior year. Full-year adjusted EBITDA was $716 million, or 17.0% of net sales, compared to $789 million, or 18.4% of net sales, in the prior year.
Cash flow from operations for the fourth quarter was $189 million, compared to $339 million in the prior year. Free cash flow was $130 million, compared to $286 million in the fourth quarter of 2024. For the full year, Cash flow from operations was $438 million as compared to $741 million in the prior year. Free cash flow was $268 million as compared to $605 million for 2024.
In 2025, Generac repurchased approximately 1.1 million shares of its common stock for $148 million. On February 9, 2026, the Board of Directors approved a new stock repurchase program allowing for the repurchase of up to $500 million of the Company’s common stock over the next 24 months.
On January 5th, the Company completed the acquisition of Allmand, a manufacturer of mobile power equipment for C&I markets, headquartered in Holdrege, Nebraska.
The company anticipates strong net sales growth in the mid-teens percent range for the full-year 2026, including a 1% favorable impact from the net effect of foreign currency and completed acquisitions and divestitures. C&I product sales are expected to increase in the 30% range, while residential product sales are projected to increase in the 10% range.
The Company expects net income margin to be approximately 8.0 to 9.0% for the full-year 2026, with a corresponding adjusted EBITDA margin of approximately 18.0 to 19.0%.
According to Aaron Jagdfeld, President and Chief Executive Officer, momentum in the data center end market has accelerated. The company is focused on increasing capacity and capabilities for large megawatt generators, including the purchase of an additional manufacturing facility in Wisconsin in the fourth quarter.
Domestic segment total sales decreased approximately 17% to $889 million, while international segment total sales increased approximately 12% to $209.2 million.
Generac management held a conference call on Wednesday, February 11, 2026, to discuss the 2025 operating results. A webcast replay is available on Generac’s website for 12 months.
Generac, founded in 1959, is a total energy solutions company that designs, manufactures, and provides a wide range of energy technology solutions, including power generation equipment, energy storage systems, and energy management devices & solutions.
Source: Generac Holdings Inc.
