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Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Net sales $ 1,173,563 $ 1,070,667 $ 3,061,033 $ 2,958,997
Costs of goods sold 701,294 694,880 1,896,824 1,982,290
Gross profit 472,269 375,787 1,164,209 976,707
Operating expenses:        
Selling and service 145,310 117,929 382,049 334,360
Research and development 56,936 43,312 160,342 129,074
General and administrative 77,242 83,052 209,392 199,108
Amortization of intangibles 24,157 26,718 73,698 78,934
Total operating expenses 303,645 271,011 825,481 741,476
Income from operations 168,624 104,776 338,728 235,231
Other (expense) income:        
Interest expense (22,910) (24,707) (69,833) (72,862)
Investment income 1,757 1,160 5,286 2,789
Change in fair value of investment 5,198 0 (2,938) 0
Loss on extinguishment of debt (4,861) 0 (4,861) 0
Other, net (577) (1,167) (1,949) (1,664)
Total other expense, net (21,393) (24,714) (74,295) (71,737)
Income before provision for income taxes 147,231 80,062 264,433 163,494
Provision for income taxes 33,453 19,428 65,124 43,184
Net income 113,778 60,634 199,309 120,310
Net income attributable to noncontrolling interests 36 257 220 2,305
Net income attributable to Generac Holdings Inc. $ 113,742 $ 60,377 $ 199,089 $ 118,005
Net income attributable to Generac Holdings Inc. per common share - basic: (in dollars per share) $ 1.91 $ 0.98 $ 3.29 $ 1.74
Weighted average common shares outstanding - basic: (in shares) 59,493,640 61,368,440 59,720,597 61,552,949
Net income attributable to Generac Holdings Inc. per common share - diluted: (in dollars per share) $ 1.89 $ 0.97 $ 3.25 $ 1.72
Weighted average common shares outstanding - diluted: (in shares) 60,312,393 62,091,163 60,475,478 62,362,743
Comprehensive income attributable to Generac Holdings Inc. $ 129,284 $ 37,041 $ 186,245 $ 141,463