Generac (NYSE:GNRC) reports core sales growth of ~17% in Q1.
Domestic sales increased 21.5% to $300.2M.
International sales up 16.9% to $97.4M, primarily due to the favorable impact of the stronger Euro along with some broad organic growth from the Pramac, Ottomotores and Motortech businesses.
Residential product sales expanded 23.5% to $190.5M and Commercial & Industrial product sales grew 16.2% to $175.1M.
Gross margin rate improved 230 bps to 35.2%.
Operating margin rate advanced 490 bps to 14.2%.
Adjusted EBITDA up 53.7% to $71.78M.
FY2018 Guidance: Net sales: +6% to +8%; Core sales: +5% to +6%; Net margin rate : 9.5% to 10%; Adjusted EBITDA margin: 19% to 19.5.
Previously: Generac beats by $0.11, beats on revenue (May 2)
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