Generac is a leading energy technology solutions company providing backup and prime power generation products for residential and commercial & industrial applications. They also offer solar + battery storage systems, energy monitoring & management devices and services, and engine- & battery-powered tools and equipment. The company maintains a leading market position in North America and an expanding presence internationally. Generac is evolving its product portfolio by building out ecosystems of energy technology products, solutions, and services for homes and businesses.

• Employees: 8,600 (as of December 31, 2023)
• Geographic Footprint: Global
• Headquarters: Waukesha, WI
• Founded: 1959
• Number of locations/facilities: Multiple manufacturing plants, distribution facilities and inventory warehouses located throughout the world
• Revenue: $4.02 billion (FY2023)
• Market Share: Leading market position in power equipment markets in North America
• Key Subsidiaries/Brands: PWRcell, Mobile Link, ecobee, DR® brand

• CEO: Aaron P. Jagdfeld
• CFO: York A. Ragen
• Board Chair: Aaron P. Jagdfeld
• Other Key Executives:Erik Wilde (Executive Vice President, Industrial, Americas), Patrick Forsythe (Chief Technical Officer), Raj Kanuru (Executive Vice President, General Counsel and Secretary), Norman Taffe (President, Energy Technology), Kyle Raabe (President, Consumer Power)

Aaron P. Jagdfeld has served as Chief Executive Officer since September 2008 and was named Chairman in February 2016. York A. Ragen has served as Chief Financial Officer since September 2008.

• Annual Revenue: $4.02 billion (FY2023)
• Net Income: $214.6 million
• Market Cap: Approximately $9.0 billion (as of June 30, 2023)
• Total Assets: $5.09 billion
• Number of employees: 8,600 (as of December 31, 2023)
• Key Financial Highlights: Net sales decreased by 11.9% compared to prior year, gross profit decreased by 10.3% compared to prior year, net income decreased by 46.3% compared to prior year

Generac designs, manufactures, and distributes a broad range of energy technology products and solutions, including:

• Residential Products: Automatic standby generators (7.5kW to 150kW), portable and inverter generators (800W to 18kW), energy storage systems (9kWh to 36kWh), smart home energy management devices, and propane tank monitors.
• C&I Products: Stationary generators (10kW to 3,250kW) fueled by natural gas, diesel and Bi-Fuel, mobile generators, mobile energy storage systems, light towers, and industrial transfer switches.
• Other Products and Services: Aftermarket service parts, installation and maintenance services, extended warranties, grid services, and remote monitoring subscription services.

The company operates through two reportable segments:

• Domestic: Includes the legacy Generac business and acquisitions based in the U.S. and Canada.
• International: Includes acquisitions not based in the U.S. and Canada.

In FY2023, Domestic sales were $3.28 billion and International sales were $746.3 million.

Generac's strategic plan, "Powering A Smarter World," focuses on leading the evolution to more resilient, efficient, and sustainable energy solutions. Key strategic initiatives include:

• Improving energy resilience and independence through onsite generation and storage solutions.
• Optimizing energy efficiency and consumption through monitoring, management, and lower-carbon solutions.
• Protecting and building critical infrastructure through innovative power, communications, and transportation solutions.
• Expanding into new markets such as residential and C&I energy storage, solar module-level power electronics, energy monitoring & management devices, and EV charging.

Generac operates in the power generation equipment, energy storage systems, and energy management solutions industries. Key market trends affecting the business include:

• The evolution of the traditional electrical utility model (Grid 2.0)
• Impact of climate change and increased power outage activity
• The increasing importance of the home as a sanctuary
• Emergence of cleaner alternative fuels like natural gas
• Growing investment in global infrastructure

Major competitors include Kohler, Briggs & Stratton, Cummins, Honda, Caterpillar, and other domestic and foreign companies. The company competes on brand reputation, quality, reliability, pricing, innovative features, breadth of product offering, product availability, and factory support.

• Decreases in the availability and quality, or increases in the cost, of raw materials, key components and labor could materially reduce earnings.
• Dependence on a small number of contract manufacturers and component suppliers, as well as single-source suppliers, for certain products and components.
• Failure to adequately protect intellectual property rights or if third parties claim that we are in violation of their intellectual property rights.
• Incurring costs and liabilities as a result of product liability, warranty claims, recalls, or other claims.
• Non-compliance with U.S. and foreign laws and regulations applicable to global operations.