$GNRC · GENERAC HOLDINGS INC.
Generac Holdings reported Q3 2026 results with record net sales of $1.29B (+16% YoY), GAAP EPS of $1.83, and adjusted EPS of $2.54. The C&I segment drove the quarter with 28% sales growth to $552M, while the Residential segment returned to 9% growth at $743M. The company disclosed its data center backlog has grown to approximately $4.5B, anchored by a $2.4B Amazon supply agreement for 2027-2028 deliveries. Full-year adjusted EBITDA margin guidance was tightened to 20.5-21.0%.
- Q3 net sales hit a record $1.29B, up 16% YoY from $1.11B.
- C&I segment sales surged 28% YoY to $552M, driven by data center demand.
- Residential segment returned to 9% growth at $743M on home standby and portable generator strength.
- Data center backlog ballooned to approximately $4.5B, including a $2.4B Amazon supply agreement for 2027-2028.
- Full-year adjusted EBITDA margin guidance narrowed to 20.5-21.0%, up from prior 20.0-21.0%.
Extended-hours trading shows GNRC at $189.50, down 2.17% from the regular-session close of $193.71, despite record revenue and a massive data center backlog. The after-hours dip suggests the market may have priced in much of the data center optimism or is reacting to the Residential segment's still-modest 9% growth relative to the C&I surge.
Generac's $4.5B data center backlog, anchored by a landmark Amazon deal, signals a structural shift from a residential-generator cyclical to a multi-year hyperscaler infrastructure play.
Generac's $4.5B data center backlog and Amazon supply agreement position it as a key beneficiary of hyperscaler infrastructure buildout, competing with traditional backup power providers and emerging energy-tech players for data center wallet share.
Data center contract risk includes cancellation rights, delivery requirements, and potential liability exposure tied to performance obligations. Tariff and trade policy volatility could impact input costs despite current favorable price/cost dynamics.