Generac (GNRC) Q3 2026: AI Power Backlog Hits $4.5 Billion With Amazon Deal
As seen on the 24/7 Wall St. homepage on October 28, 2026.
A roughly $4.5 billion data center backlog, including Amazon deliveries slated for 2027 and 2028, makes Generac an AI power supplier. Earnings beat expectations with revenue missing expectations, and full-year sales growth guidance held in the mid-to-high teens.
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Generac posted adjusted earnings per share of $2.54 for the third quarter, beating expectations, while revenue of $1.29 billion came in below expectations.
The Commercial and Industrial segment drove the quarter, with sales climbing roughly 28% to $553 million on ramping shipments into the global data center market. Margins expanded there and in Residential as volumes scaled.
The data center backlog has grown to approximately $4.5 billion, including a long-term supply agreement with Amazon. CEO Aaron Jagdfeld called it a "generational growth opportunity" and cited additional commitments from data center customers beyond that deal.
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Management held its full-year 2026 net sales growth guidance and narrowed its adjusted EBITDA margin outlook to approximately 20.5% to 21.0%. The guidance hold, with the backlog, signals how much revenue visibility Generac carries into 2027.
The return to beats in Q1, Q2, and now Q3 of 2026 suggests the data center ramp is flowing through the income statement in a material way. The 2027 and 2028 Amazon deliveries are the next test of that trajectory.