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  "docSlug": "0cee9cc55960",
  "documentTitle": "Generac Holdings, Inc. (GNRC)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2022-06-22 00:00:00",
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      "text": "Spruce Point observes many signs of financial stress in Generac’s financial statements. Gross margins are declining, inventory turns are decreasing and earnings quality is deteriorating.",
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      "text": "Earnings Quality",
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      "text": "Spruce Point observes many signs of financial stress in Generac's financial statements. Gross margins are declining, inventory turns are decreasing and earnings quality is deteriorating. It appears that Generac is significantly stretching out its payables, which would temporarily improve cash flow. However, despite this action, cash from operations has been declining and turned negative in Q1 2022.",
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      "text": "Source: Generac Financials and Spruce Point Analysis",
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      "text": "Glaring Signs of Financial Stress At Generac",
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