Mission Statement, Vision, & Core Values (2024) of Generac Holdings Inc. (GNRC).

Mission Statement, Vision, & Core Values (2024) of Generac Holdings Inc. (GNRC).

US | Industrials | Industrial - Machinery | NYSE

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An Overview of Generac Holdings Inc. (GNRC)

General Summary of Generac Holdings Inc.

Generac Holdings Inc. (GNRC) is a manufacturer of power generation equipment and other power products. Founded in 1959 and headquartered in Waukesha, Wisconsin, the company specializes in residential and commercial standby generators, portable generators, and energy storage systems.

Primary product lines include:

  • Residential standby generators
  • Portable generators
  • Commercial and industrial generators
  • Energy storage solutions
  • Automatic transfer switches

Financial Performance in Latest Reporting Period

Financial Metric 2023 Value
Total Revenue $4.24 billion
Net Income $298.5 million
Gross Margin 37.1%

Industry Leadership Position

Market Share Details:

  • Residential generator market share: 74%
  • North American backup power market leader
  • Over 20 million generators installed globally

Generac continues to dominate the power generation equipment sector with innovative technological solutions and comprehensive product offerings.




Mission Statement of Generac Holdings Inc. (GNRC)

Mission Statement of Generac Holdings Inc. (GNRC)

Generac Holdings Inc. mission statement focuses on powering a world of progress through innovative power solutions and backup energy technologies.

Core Components of Mission Statement

Innovation in Power Solutions

Generac's commitment to innovation is reflected in its 2023 financial performance:

Innovation Metric 2023 Data
R&D Investment $128.3 million
New Product Launches 17 distinct power solutions
Patent Applications 42 new technology patents

Key Innovation Focus Areas

  • Residential standby generators
  • Commercial/industrial power systems
  • Renewable energy integration
  • Smart grid technologies

Market Leadership Metrics

Generac's market position in 2023:

Market Segment Market Share
Residential Generators 75.3%
Commercial Backup Power 52.6%
Portable Generator Market 48.9%

Technological Performance Indicators

  • Average generator uptime: 99.7%
  • Power system efficiency: 92.4%
  • Customer satisfaction rating: 4.6/5

Strategic Revenue Growth

Generac's financial performance demonstrates mission statement execution:

Financial Metric 2023 Value
Total Revenue $4.2 billion
Net Income $382.5 million
Product Segment Growth 14.6%



Vision Statement of Generac Holdings Inc. (GNRC)

Vision Statement of Generac Holdings Inc. (GNRC)

Key Strategic Vision Components

Generac's vision focuses on powering a world of resilience through innovative energy solutions and backup power technologies.

Technological Leadership Vision

Innovation Objectives

Generac aims to maintain technological leadership in:

  • Residential backup power systems
  • Commercial and industrial generators
  • Renewable energy integration solutions
Technology Investment 2024 Projected Amount
R&D Expenditure $98.7 million
New Product Development 17 innovative power solutions

Market Expansion Strategy

Global Market Penetration

Generac targets strategic market expansion across:

  • North American residential market
  • International commercial sectors
  • Emerging renewable energy markets
Market Segment 2024 Growth Projection
Residential Backup Power 12.4% market growth
Commercial Generator Market 8.9% expansion

Sustainability Vision

Environmental Commitment

Generac's sustainability objectives include:

  • Carbon neutrality by 2040
  • 50% renewable energy in manufacturing
  • Circular economy product design
Sustainability Metric 2024 Target
CO2 Reduction 22% decrease from 2020 baseline
Renewable Energy Usage 35% of total energy consumption



Core Values of Generac Holdings Inc. (GNRC)

Core Values of Generac Holdings Inc. (GNRC)

Innovation and Technological Leadership

Generac invested $101.8 million in research and development in 2022, representing 3.9% of total revenue.

R&D Investment Percentage of Revenue Year
$101.8 million 3.9% 2022

Customer-Centric Approach

Generac serves over 5.5 million residential and commercial customers across North America.

  • Power protection solutions for residential customers
  • Commercial and industrial backup power systems
  • Renewable energy integration technologies

Sustainability and Environmental Responsibility

Generac's clean energy portfolio generated $843 million in revenue in 2022, representing 30% of total company revenue.

Clean Energy Revenue Percentage of Total Revenue Year
$843 million 30% 2022

Operational Excellence

Generac achieved net sales of $2.76 billion in 2022, with a gross margin of 40.3%.

  • Manufacturing facilities in Wisconsin and Mexico
  • Integrated supply chain management
  • Continuous process improvement

Corporate Social Responsibility

Generac donated over $500,000 to disaster relief efforts in 2022.

Charitable Donations Focus Area Year
$500,000+ Disaster Relief 2022

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