ジェネラックホールディングスの四半期報告

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Represents transaction costs incurred directly in connection with any investment, as defined in the Company's credit agreement, equity issuance or debt issuance or refinancing, together with certain fees relating to the Company's senior secured credit facilities, such as administrative agent fees and credit facility commitment fees under the Company's credit agreement. Represents a slightly unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the nine months ended September 30, 2024, particularly the Euro. For the three and nine months ended September 30, 2025, the loss represents third party costs and the write-off of certain deferred financing costs in connection with the refinancing of the Original Tranche A Term Loan Facility and Original Revolving Facility. For the three and nine months ended September 30, 2024, the loss represents fees paid to creditors and the write-off of the original issue discount and deferred financing costs in connection with the refinancing of the Tranche B Term Loan Facility. Represents non-cash losses from changes in the fair value of the Company's investment in Wallbox warrants and equity securities. Excludes approximately 177,000 and 316,000 stock options and restricted stock awards for the three and nine months ended September 30, 2025, respectively, and 430,000 and 440,000 stock options and restricted stock awards for the three and nine months ended September 30, 2024, respectively, because they would be anti-dilutive. Represents severance and other restructuring charges related to the consolidation of certain operating facilities and organizational functions. Represents the following significant litigation, regulatory, and other matters that are not indicative of our ongoing operations: • A provision for judgments, settlements, and legal expenses related to certain patent lawsuits - $1,696 and $3,188 for the three and six months ended June 30, 2025, respectively, and $363 and $2,533 for the three and six months ended June 30, 2024, respectively. • Legal expenses related to certain class action lawsuits - $2,540 and $3,883 for the three and six months ended June 30, 2025, respectively. • Legal expenses related to certain government inquiries and other significant matters - $675 and $1,591 for the three and six months ended June 30, 2025, respectively. • Additional customer support costs related to a clean energy product customer that filed for bankruptcy in 2022 – $0 and $365 for the three and six months ended June 30, 2024. Includes gains (losses) on dispositions of assets other than in the ordinary course of business, gains (losses) on sales of certain investments, unrealized mark-to-market adjustments on commodity contracts, certain foreign currency related adjustments, and certain purchase accounting and contingent consideration adjustments. Includes payments of $2,700 in cash for the Ageto acquisition. Represents unrealized losses of $13,591 on the interest rate swaps, net of tax effect of $3,364, for the nine months ended September 30, 2025. The pre-tax loss in the nine months ended September 30, 2025 relates primarily to the sale of the Company's immaterial Tank Utility fleet business during the second quarter of 2025. Represents the following significant litigation, regulatory, and other matters that are not indicative of our ongoing operations: • A provision for judgments, settlements, and legal expenses related to certain patent lawsuits - $2,736 and $5,923 for the three and nine months ended September 30, 2025, respectively, and $2,382 and $4,915 for the three and nine months ended September 30, 2024, respectively. • A provision for a $15,000 multi-district class action settlement related to clean energy products and legal expenses related to certain class action lawsuits - $17,759 and $21,643 for the three and nine months ended September 30, 2025, respectively. • Legal expenses related to certain government inquiries and other significant matters - $2,713 and $4,304 for the three and nine months ended September 30, 2025, respectively. • Additional customer support costs related to a clean energy product customer that filed for bankruptcy in 2022 – $0 and $365 for the three and nine months ended September 30, 2024. Represents non-cash losses primarily from changes in the fair value of the Company's investment in Wallbox warrants and equity securities. Represents favorable impact from the weakening of the U.S. dollar against foreign currencies during the nine months ended September 30, 2025, particularly the Euro and British Pound. Represents unrealized losses of $13,577 on the interest rate swaps, net of tax effect of $3,400, for the three months ended September 30, 2024. Represents a slightly unfavorable impact from the strengthening of the U.S. dollar against foreign currencies during the three months ended September 30, 2025, particularly the British Pound. Other segment items primarily represent depreciation and amortization and the following items defined below: Non-cash write-down and other adjustments; Non-cash shared-based compensation expense; Transaction costs and credit facility fees; Business optimization and other charges; and Provision for legal, regulatory, and other costs. Represents share-based compensation expense to account for stock options, restricted stock, and other stock awards over their respective vesting periods. 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米国証券取引委員会

WASHINGTON, DC 20549

FORM 10-Q

(Mark One)

☑	1934年米国証券取引所法（securities exchange act of 1934）第13条または第15条(d)に基づく四半期報告書

	2025年9月30日に終了した四半期について

OR

☐	1934年米国証券取引所法（securities exchange act of 1934）第13条または第15条（d）に基づく移行報告書

	までの移行期間は

Commission File Number 001-34627

GENERAC HOLDINGS INC.

(定款に明記された登録者の正確な名称)

デラウェア	20-5654756
(の州またはその他の管轄区域	(IRS Employer
incorporation or organization)	Identification No.)

s45 w29290 hwy 59, waukesha, wi	53189
(主要経営陣の住所)	(Zip Code)

(262) 544-4811

(登録者の電話番号（市外局番を含む）

Not Applicable

(前回の報告から変更された場合は、旧氏名、旧住所、旧会計年度)

法第12条(b)に従って登録された証券：

Title of each class	Trading Symbol(s)	登録されている各取引所の名称
普通株式、額面0.01ドル	GNRC	New York Stock Exchange

(1)1934年証券取引法第13条または第15条(d)により提出が義務付けられているすべての報告書を過去12ヶ月間（または登録者が当該報告書の提出を義務付けられていたより短い期間）提出したかどうか、および(2)過去90日間当該提出義務の対象であったかどうかをチェックマークで示す。はい ☑ いいえ

登録者が過去12ヶ月間（または登録者がそのようなファイルを提出する必要があったより短い期間）に、レギュレーションS-Tのルール405（本章§232.405）に従って提出が義務付けられているすべてのインタラクティブ・データ・ファイルを電子的に提出したかどうかをチェックマークで示す。はい☑ いいえ

登録者が大規模加速ファイラー、加速ファイラー、非加速ファイラー、小規模報告企業、新興成長企業のいずれであるかをチェックマークで示す。取引所法の規則12b-2における「大型加速度フィラー」、「加速度フィラー」、「小規模報告企業」、「新興成長企業」の定義を参照のこと。

Large accelerated filer ☑	Accelerated filer ☐
Non-accelerated filer ☐	Smaller reporting company ☐
Emerging growth company ☐

新興成長企業の場合、登録者が取引所法第13条(a)に従い提供される新規または改訂された財務会計基準に準拠するための移行期間の延長を利用しないことを選択した場合は、チェックマークで示す。☐

登録者がシェル会社（取引所法の規則12b-2で定義）であるかどうかをチェックマークで示す。はい」 ☐ 「いいえ」 ☑。

2025年11月1日現在、登録者の普通株式の発行済株式数は58,684,066株である。

		Page
パートi. 財務情報

Item 1.	Financial Statements

	2025年9月30日および2024年12月31日現在の要約連結貸借対照表	1

	2025年および2024年 9月30日に終了した第3四半期連結会計期間および第3四半期連結累計期間の要約連結包括利益計算書	2

	2025年および2024年 9月30日に終了した第3四半期連結会計期間および第3四半期連結累計期間の要約連結株主資本計算書	3

	2025年および2024年 9月30日に終了した9ヶ月間の要約連結キャッシュ・フロー計算書	5

	要約四半期連結財務諸表に対する注記	6

Item 2.	経営陣による財政状態および経営成績の検討と分析	19

Item 3.	市場リスクに関する定量的および定性的な開示	31

Item 4.	コントロールとプロシージャー	31

パート ii.その他の情報

Item 1.	Legal Proceedings	31

Item 1A.	Risk Factors	31

Item 2.	持分証券の無登録販売とその代金の使途について	32

Item 3.	優先出資証券の債務不履行	32

Item 4.	鉱山安全情報開示	32

Item 5.	Other Information	32

Item 6.	Exhibits	32

	Signatures	33

	September 30,			December 31,
	2025			2024
資産
流動資産:
現金および現金同等物	$	300,009		$	281,277
2025年9月30日および2024年12月31日現在、それぞれ34,543ドルおよび35,465ドルの貸倒引当金控除後の売掛金		680,082			612,107
棚卸資産		1,329,687			1,031,647
前払費用およびその他の流動資産		192,335			107,139
流動資産合計		2,502,113			2,032,170

有形固定資産(純額)		778,590			690,023

Customer lists, net		135,982			152,737
Patents and technology, net		350,132			379,095
その他の無形固定資産(純額)		12,714			20,026
Tradenames, net		201,420			206,664
営業権		1,465,099			1,436,261
法人税等調整額		20,111			24,132
オペレーティング・リースおよびその他の資産		131,941			168,223
資産合計	$	5,598,102		$	5,109,331

Liabilities and stockholders’ equity
現在の負債:
短期借入金	$	46,046		$	55,848
買掛金		620,717			458,693
未払賃金および従業員給付金		68,251			81,485
Accrued product warranty		44,689			56,127
その他の未払金		349,477			313,401
1年以内に返済予定の長期借入金およびファイナンス・リース債務		17,139			67,598
流動負債合計		1,146,319			1,033,152

長期借入金およびファイナンス・リース債務		1,356,971			1,210,776
法人税等調整額		62,091			33,185
繰延収益		208,939			193,260
オペレーティング・リースおよびその他の固定負債		173,954			141,515
負債合計		2,948,274			2,611,888

Redeemable non-controlling interests		930			–

株主資本の部:
普通株式、額面0.01ドル、授権株式数500,000,000株、2025年9月30日および2024年12月31日現在の発行済株式数はそれぞれ74,050,637株および73,785,631株		741			738
会社開示情報		1,176,108			1,133,756
会社開示情報をすべてご覧になるには株探プレミアムの登録が必要です。初めての方には「30日間の無料体験」実施中！会社開示情報をすべてご		(1,356,714	)		(1,196,997	)
会社開示情報をすべてご覧になるには株		(202,116	)		(202,116	)
会社開示情報		3,028,020			2,844,296
会社開示情報をすべてご覧		(2,291	)		(85,399	)
会社開示情報をすべてご覧になるには株探プレミアムの登録が必		2,643,748			2,494,278
会社開示情報		5,150			3,165
会社開示情報を		2,648,898			2,497,443
会社開示情報をすべてご覧	$	5,598,102		$	5,109,331