The world headquarters of
Generac Power Systems Inc. begins work
on its $8-10 million expansion in 2012.
Freeman file photo
WAUKESHA - Generac Holdings Inc., a generator
manufacturer, said Thursday its second-quarter net sales
increased 4.6 percent.
company said its net sales increased to $362.6 million
compared to $346.7 million in the second quarter of
2013. The company attributed the increase to
acquisitions and higher sales in the commercial and
second quarter results for residential products were
seasonally higher as we saw shipments increase as
compared to the first quarter of 2014 due to strength in
home standby generators. We remain focused on a number
of key initiatives to continue to grow the market,
further building on our leadership position in this
product category,” said Aaron Jagdfeld, president and
chief executive officer.
Generac’s commercial and industrial product sales
increased 22.5 percent to $163.5 million compared to
$133.4 million in the prior-year second quarter.
Additionally, its product sales dropped 8.6 percent to
income for the second quarter was $54 million, or 77
cents per share, compared with $28.3 million, or 40
cents per share, during the same period last year.
Excluding a one-time $16 million gain on a contract that
reduced borrowing costs, adjusted net income declined 14
percent to $57.1 million, or 82 cents per share, from
$66.6 million, or 95 cents per share, the year before.
the full fiscal year, Generac is expecting its net sales
to increase in the mid-single digit range, compared to
the prior year.