Q2 2023 Financial Overview & Strategic Plan
ADJUSTED NET INCOME
AND FREE CASH FLOW RECONCILIATIONS
($'S IN MILLIONS)
Net income to Adjusted net income reconciliation
Three months ended
June 30,
GENERAC
LTM Ended June 30,
2023
2022
2023
2022
(unaudited)
(unaudited)
Transaction costs and credit facility fees
Net income attributable to Generac Holdings. Inc.
Net income attributable to noncontrolling interests
Net income
Provision for income taxes (1)
Income before provision for income taxes
Amortization of intangible assets
Amortization of deferred financing costs and OID
Loss on extinguishment of debt
Tax effect of add backs
$ 45,198
317
45,515
$ 156,359
1,278
157,637
$ 186,913
$ 544,682
7,100
194,013
8,566
553,248
53,227
45,515
157,637
194,013
606,475
26,393
25,876
103,606
81,785
967
650
3,868
2,581
3,743
3,743
669
5,710
5,021
13,966
(7,459)
Business optimization, provision for regulatory charges, and other
Cash income tax expense (1)
1,760
(8,448)
1,590
(42,861)
75,428
(17,704)
Adjusted net income
$
67,844
Adjusted net income attributable to noncontrolling interests
(317)
$ 186,758
(1,678)
Adjusted net income attributable to Generac Holdings. Inc.
$
67,527
$ 185,080
$ 339,075
(6,555)
$ 332,520
2,002
(60,957)
$ 631,891
$ 626,231
(5,660)
Free Cash Flow Reconciliation
Net cash provided by operating activities
$
83,147
$
Proceeds from beneficial interests in securitization transactions
Expenditures for property and equipment
677
23,835
270
(29,923)
(18,303)
Free cash flow
$
1) Amounts prior to the first quarter 2022 are based on an anticipated cash income tax rate due to the existence of the tax shield from the amortization of tax-deductible goodwill and intangible assets from our
acquisition by CCMP Capital Advisors, LLC in 2006. Due to the expiration of this tax shield in the fourth quarter of 2021, there is no similar reconciling item for the periods beginning with the first quarter of 2022.
$
53,901
$
5,802
109,411
3,195
(93,585)
19,021
$ 5,089
(102,273)
$ 52,672
$ 149,856
29View entire presentation