Generac leads S&P 500 after reporting strong third quarter results
Wednesday after it reported third quarter results that topped estimates, while maintaining its full year outlook. Wall Street expectations were low heading into the print.
The generator maker maintained its overall full-year 2023 net sales guidance for a decline of approximately -10 to -12% as compared to the prior year, which includes approximately 2% of net favorable impact from acquisitions and foreign currency. The company now expects net income margin to be approximately 5.0 to 6.0% for the full-year 2023 compared to the prior guidance range of 6.0 to 7.0%.
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