joining Thanks, us everyone, you and Mike. Good thank today. morning, for
the momentum end Our softer during at and the consolidated of fourth residential in range. in quarter, our guidance product continued quarter low results Industrial reflect sales strong net but Commercial previous our product categories sales, resulted
and sales home of from growth and on to robust were during to as sales and product these reliability field domestically the X% XX% our continue and standby in all increased product inventory billion impact standby further energy fourth all home $X.XX the overall capabilities. sales levels the clean a mentioned previously quarter. across to Year-over-year, XX% with expand and core year-over-year Residential core improve we year clean lower sales products and higher regions shipments energy net C&I distribution due internationally. declined orders quarter decreased Specifically, products the headwinds. to prior work channels decreased product sales X% basis the shipments
Adjusted from by EBITDA sales the expenses were margins leverage mix, in recent partially operating declined during quarter effect price and unfavorable acquisitions of the cost recurring dynamics. offset reduced as favorable increase operating the
For another top the year Generac full growth XXXX, over which sales of marked total achieved our record increasing year net of line growth. year double XXXX, consecutive third digit with XX%
residential product XX%. growth of While strong faced category year-over-year XXXX, approximately shipments still half of second in experienced headwinds the the
as shipments Additionally, XXXX. our the setting sales another We of stronger, global our backlog for over $X.XX in year strong grew for expectations billion prior with been year, XX% resulting exited C&I products, never in these sales. products have XXXX record in annual
to adjusted during to margins and for and backup record the liquidity continue strong as net EBITDA Also, us time repurchase benefit we to opportunistically our achieved X.X addition the year sales, adjusted than international power In mobile EBITDA position highs and segment more increasing year. our all allowed from million for shares global demand products.
an update in the discuss we energy Despite mega provide the over year during continued quarter portfolio technology the the course half for solutions continue more on are the building energy to evolution an the of products, solutions our the our of our detail, driving company development trends related powerful XXXX make of our out to fourth business. that advance I residential of year. softer progress second we discussing important Before progress in and into want technology results made to
energy further distribution years. we've the and Importantly, energy integrating a significantly recent we began assembling multiple technology clean experienced team and capabilities, advancing focused leadership more on and made our deeper investments improving while in product
fuel portfolio WATT the Blue a hub taking to the energy end numerous our launching energy Pillar's is leverages and our interface technologies investment new with invest expertise. while focused initiative provide minority and foundation continue growing ecosystem including also user in Blue us or glass capabilities, our Pillar of of developing capabilities single pane acquiring initiative. in cell, connecting home equity of of and develop We technology for C&I and smart platform solutions, our central on pane heavily ecobee's focused development single glass interest,
solutions during solutions we control launched brought line shipping Power utilities called charging and announced for Stations new also portable PWRmanager, EV called the device solutions second our multiple We and owners. new generation of to as began load market battery a Portable year EV
had several and a additional during strong project Our metrics. wins several announced grid across operating team year XXXX key services also
The and helping the sensitivity doubling mega in consumers growth further are demand power recent term percentage the of with home geopolitical Additionally, years and US since of shift events business evident solutions energy of from outages that to A in home very XXXX. and preferences our power even long grid, the US further multiple trends drive security. tripling backup habits of and referral highlighted XXXX. aging sanctuary work residential has trends weather in in high forced a consumer and remain while Extreme health reliability place individuals outage structural volumes poor the compelling. working is home for in and that trajectory Europe the importance instability drive profile the to power became war evaluate in more the businesses increased
been investments with effects our Reduction in term passage XXXX, technology. Inflation the to Most notably change increasingly technology the the additional energy the never has evident, with providing energy for a backdrop conviction us climate Act our in of long of more focus As solutions favorable. for become maintain policy
networks ongoing support infrastructure expectations well. of our help the future growth for telecom federal C&I products increased as spending global our upgrade and Additionally,
the our less for taking electricity the strengthen changes American trend with North mega Electric to place yet demand to imbalances across normal during in another to peak growing resource continues The XXXX met power shortfalls approximately or supply. XX% grid. adequacy conditions grid to massive nation's at as demand According with are power risk reliable is seasonal NERC, the Reliability high Corporation, growing supply are that due our period of Americans of XXXX
coupled accelerating mix of trends will solutions. to need penetration on which growing with intermittent power come. risk the of we've power NERC's significant higher EVs, resiliency high for With of weather renewable and magnifies generation the drive and decentralized comes megatrend further the the for believe for need categorization this increasingly the a everything energy believe supply from in focus an years we sources, before considering years, only severe in increase recent volatile notable reliable technology witnessed electrification we
to rate quarter from standby Residential by detail. results prior more inventory discussing sales a as declined primarily driven home the in year, the field higher fourth compared Now quarter product at shipments lower in double our digit levels. resulting
power our localized quarter. yet the above However, continued power to continued end or event leads other for saw rolling solutions. for prior outages US Home consumer the market another average with term and fourth was outage strong the in be providing inconvenient Elliot grid the activity matching conditions in larger operator winter long during period Baseline its of coincided of reminder power consultations residential quarter electrical as extreme awareness Difficulty] temperatures over many a an sensitive in year. the increase supply nearly with blackouts. the in plants offline, the created of fragility supporting households, the This for resulting time backup quarter sales fall season power [Technical nation's place our the heating growing high especially strong, The for the remain holiday took the largest need surge disruptions in further for and and infrastructure. in in record demand a quarter storm of
This season levels. more our consultations following Additionally, distribution for and sequential expanding of XXXX holiday as We times from home growth dealer increase the in remain the has than X,XXX of growing a XXX January in were with quarter early partners, net and activity. a consultations outage residential dealer full we for focused than XXXX XXXX network strength approximately the with on year-over-year year basis third experienced dealers base the X continued again ended quarter. record levels our month on more reaching home
quarter install rate a prior to grew as in Activations, the of proxy fourth bandwidth. also which at grew and a sequentially for result a the installations, increased robust compared are year,
sequential count, experienced rates to lead and addition project in close times. In and also growth dealer dealer this activations encouraging in improvement we
r two quarter, and fourth back home sequentially quarter. to during peak of rates, the yet generators number levels, and benefiting in levels. during from activation not than down Days sequentially are standby these from which reduced The activation declined more the trends considers normalize declined production are XX% rates fourth metrics inventory, levels and and Although, record field also the field inventory of recent quarter.
XXXX. to historic of well still field the of relative seasonal are patterns, above as levels normalized of days inventory end However,
which bandwidth XXXX, home will We remain the second expect standby XXXX. the weigh first of shipments through will orders to initiative during company first for generators of that and on key inventory home Improving quarters. elevated continue levels a for the the in installation is generators and half standby field
added providing on install Recent dealers, to dealers XXX to We very count we and for the our half are over adding dealer focused easier installation in additional technical support make as been innovations for to training XXXX. growth developing improve dealer more efficiency contractors recruiting, encouraging of second it has products.
for help electrical dealer dealers to streamline pull well, installation engaging drive and our their network standby contractors also groups, such allows channel including with out actively package generator of to to project documentation process dealers to recruit category partners rolled trade progressing location. home for that a the also among Initiatives the the further necessary talent independent are the labor permitting universal awareness contractors. are launch qualified We help as specific the to
we practices year and expected of activation expanded combination sharing training best improvement these in for result efforts field progresses. meaningful in In is as of have The actions the non-dealer addition, dealers further rates to the contractors. and our installation
XXXX November, process. shipments, to the Consistent for the earnings quarter the for trough to the standby in home we field to with first with decline quarter third weakness channel mark shipments in in full resulting half of expect from expected first inventory current the year early provided comments significant due call levels during sales elevated our destocking
more to in assumption continue activity based with half home rates, fuel current of and inventory year production term our along second inline outage power the anticipate the view levels average. of our consultations, long the of with baseline We on the normalized activations
the field even demand to no the year, home assuming growth Favorable into ramp growth standby and major counts, fourth expect to end As sequentially of and low half term home inventory for expectations levels. the in sales market mega a category nationwide dealer we reinforce normalized return term mid confidence outage in shipments and we the third significant in once home second single growth events. the our to solid the metrics, the home return when trajectory trends penetration year-over-year near market long standby strengthening standby quarters, our for digits support in our reaches also standby more growth
and Grid energy quarter from customer of line I'd some with negatively continued technology quality inline that were Services. to sales SnapRS impacted were the top large energy low a offset softness now prior quarter, ecobee expectations systems commentary of concerns. provide our shipments related our the third during strong performances our on overhang energy of of ceased again the and storage with residential Generac storage solutions, like as and fourth PWRcell in the loss the the Shipments products by by end in residential operations
are partner to to committed has and long systems energy Channel in program performing as network clean XXXX as as ensuring favorable in our are which product that priority We stronger dealers coverage are upgrade end we a top build SnapRS our these are as efforts larger we for been thus intended. distributors, term to that the for installers warranty response of well position residential participating supporting customer working a success. and company offering and far, remains the
of investing We residential and strategic our quality further the heavily products energy opportunity on view a market storage improving for Generac. as the reliability key and are clean
in generation quarter products XXXX. making are second of an we our good year begin the alpha to in these towards progress anticipated this of launch storage system will next energy Additionally, market with the testing and we
update like strong fourth continued feature-rich within residential strategy ecobee, positioning aggressive in connected the the our on activity the to to a provide devices ecobee's core of of from now which I'd which quick ecosystem. promotional ecobee underscores grow forms energy strong competitive despite solutions. quarter, a at competitors, our sales rate
been product to In thermostat further professional a partnerships in addition utilities smart ecobee, continuing the have of their to channel, grid offering. gain validating service contractor core our number out differentiated traction with larger seeking
closed levels fuel home ecobee marks We existing a and services acquisition, propane to our monitor step customers of their grid continued which platform. forward assets important announced with C&I The also integration they capabilities and standby pipeline metrics, home receive which under services wide out tank homeowners to as growth a ecobee provide allows monitoring well delivered. recently on into now allow driven made C&I the growing the and standby the first efforts and year across an previously our to connectability grid generator pane of want including This leverage connected directly team assets the programs. user customers of single capacity of the sales platform, grid I performance residential and number hours development provide interface management, in XXXX key suite and some by Pillar with both stranded their central to available new developing products hardware, ecobee the as connectivity our team. strong on in in commentary to heavily as is for of glass platform products of range initiative the will will being that Blue megawatts, our gigawatt including capabilities also services alerts be
growing energy EV storage programs, In only the plus opportunities. core leader which to impact grid innovations this loan become ecosystem technology in our we're market residential of software party improvement homeowners the target this and of be This the services storage, utilizing later to Generac’s Not services competitive electrical strategic we To improve opportunities programs EV announced Generac's hardware traditional long energy and and economics the ecosystem systems. and key our our important demand. services retailers omnichannel these attractive We're own dealer into programs we remains marks through and XXXX including solar launch charger, opportunities and of residential provide home. that but our can offering financing hardware home excited highly believe solutions. seeing third home network, large incremental vision, to rapidly grid leading utility of market. own markets support market the unique new into product adjacent this services higher will power end, initial these for the consumer can management recently within to conversion, wholesalers. storage that and our as and network, smart pursue remains charging distribution portfolio monitoring and also a costs available space. continuing addition, deploy continue The residential We extension future for residential economic of services increased driven part grid will as incorporate in is increasingly and term also EV grid will advantage energy while solutions a to to product an of capabilities. energy power, product energy portfolio charging a And natural in Generac’s systems
company. for and involved we of opportunities, in strategic solutions. products development heavily market to and in people significant And these the area remains of focus these key a Given continue invest processes the this the
by ecosystems. of operating in foundation solutions will energy acquired in a leadership percentage company and residential hardware integration the we progress into to sales in on The have to as But necessary leader recent encouraged we solutions of level are investment expenses the well a technology and integrating energy as for of software in and build Generac the as team position the anticipate contribute these developed home XXXX. improving higher a We we energy investments home new technology years. deployment strong for growth the for future returns our and
that XXXX. by for we anticipate grid $XXX $XXX sales the the of these services these product and sequentially year, million technology improve initiatives in and and strong ecobee the million between energy and residential the energy for expect We result of will growth full improvement clean deliver driven to investments, a combination services, As year alongside gross products from our throughout our expectations coming results continued efforts quarters. from distribution and
XXXX. overall XXXX American C&I stationary Quoting quarter, in again trends networks. harden out distributor to market elevated channel increased gains in the fourth basis. durability of indicate on will order rates well and North to sites their their to customers strong us in experienced the the in C&I record to growth as Shipments as also also robust in continue distributors sequential rate giving part visibility as has year including prior national our year, levels, all the continued rental channels, across benefiting for of some We that shipments industrial provide the equipment, backlog domestic during compared strategic globally compared our for again the generators demand and our on national year highlighting as as XX% as excellent continue to and sustained generators initiatives. growth backlog strong prior and our higher activity continued fourth fifth from was as I existing by levels, continued demand commentary a sales the resulting remain these in experienced trends capacity products. grew significantly as production strength channel customers the expansion strength products the business category expectations, share levels telecom, compared as C&I deploy grew ended build into outstanding sequentially, and of during C&I demand to products larger the through by from gears, to our to the customers. prior national closed of fourth and generation want grew quarter our and for highlighted several increased other Shipments now XG telecom a a outperform Switching the at the of in very at again products Growth for comparison, quarter quarter quarter
to global the years, C&I tower megatrends expand critical increasingly the the counts backup hub one nature growth drive further in communications resiliency. products infrastructure and remains coming for Investment that requires wireless as power key network our expect for telecom of we of and in
backup the we market, telecom power As the expect American to North provider trend. benefit leading of to this secular from
another rental demand robust evidenced We refresh in the megatrend of customers tremendous quarter around infrastructure We they mobile and play outpacing as out. the independent fleets. will believe expand the shipment to the ordered growth need growth quarter by ahead, for and also and environment with equipment as experienced in quarters products continues remain critical international our the their for improvements growth
sustainability growth customer as markets for a very these at announced market our these EODev. demand continued national distribution energy backlog in containerized are grid believe solutions. their rate. with products used with fuel for first the beyond for goals these for generators traditional unit storage in to Strong and rental volatile Additionally, end through recently exceptional systems, of to customers new strong our energy hydrogen applications gas innovative we we're exciting in advance are the both the agreement these with quarter this introduced stability shipments delivered up remain and as an products demand solid our mobile natural substantially of customer helping and innings as cell expected projects also emergency concerns standby quarter interest rates sequentially. early for newly drive year-over-year opportunity grew We we Order further also
quarter, XX% the Generac and and during and on robust Latin continued substantially when for America remained heightened energy amid core our in providing generators XX% Power International again to sales the increased quarter generators to has as we EBITDA the Internationally North products Ukraine ramp growth strength as impact of in growing on war Mexico C&I shipments strong was The American driven continued leverage notably regions, for through are the intersegment production during branches. volumes. sales portable telecom most a quarter due Core our demand, primarily products by focus momentum region facility backup sales notably operating higher also sales most the seen security. sales Europe market. total the the total year-over-year with all unfavorable currency. security excluding region across growth foreign and remarkably margins to increased concerns of independence due with segment the European European fourth have to improved in
has geopolitical demand of effect homes on macroeconomic volatile, the The the the end reliable remain region for Although increased driving around Europe's conditions war the term across and resources the certain in continent. energy undoubtedly is and long for market subsequent awareness the on highlighted resiliency complex trends, businesses need globe. less need site for of power
behind Systems, platform We the and the recently of commercial our power announced in acquisition the products, battery German Storage meter as growing market stationary market. services which applications, a energy entrance a supplier of of REFU developer long C&I into our large for backup storage hardware and represents industrial storage the market. the we for natural history This and also acquisition and generation C&I software view initial rapidly advanced extension
action our expand normalization impacted our standby field challenges Given bandwidth. two installation continue along C&I momentum encouraged and and production the address expect range digit high have believe sight our global our line the fundamentals to for the for term domestic products to across continued in the net past We XXXX. we're our over we and we quarters. results channels, of strong rightsize inventories the by in morning, to mid the a existing we sales to have C&I progress backlog that home demand as of with initial near single In segment, plans international closing, this growth to be
we these term evident. long discussed within business, been rapidly still growth support for to that more stronger, remain services strengthened and our in for months previously build opportunity part our while never market significantly technology last strategically The business. our home interest including our is and leadership generators of and the distribution developing and over residential out they C&I on storage. have further themes team increased product in driving the penetration significant has standby XXXX. products the positioned been are innovation, Global We this and in and our growing energy quality energy confident We never themes capabilities six in strategic focus megatrends the well growth an important continue have
uniquely through generation ability mission the Our has developing energy us the of I'm backup grid. solutions. technology execute to our as team's to to our create more continue and portfolio refined energy sustainable on to solutions next the in services power on confident execution and to innovative positioned and lead transition value products evolution our resilient, focus in we extremely efficient
to the further I'll well provide quarter our now the to York? call and XXXX. details on as York XXXX over turn fourth results as for year outlook full
