Generac’s net sales increase 22.5% in 3Q

Freeman Staff

Nov. 2, 2017

TOWN OF GENESEE — Significant hurricane activity around the country resulted in Generac Holdings, Inc. having a strong third quarter with its net sales increasing 22.5 percent.

According to an announcement from the Town of Genesee company on Wednesday, the manufacturer of power generation equipment and other engine-powered products had record sales of $457.3 million during the third quarter of 2017, compared to $373.1 million in the prior-year third quarter, a 22.5 percent increase. That sales total included $10.1 million of contribution from the Motortech acquisition.

Generac also reported that net income attributable to the company during the third quarter of 2017 was $39.7 million, or $0.64 per share, as compared to $26.2 million, or $0.40 per share, for the same period of 2016. In addition, cash flow from Generac’s operations were $67 million in the third quarter, as compared with $48.3 million in the prior year quarter.

“Overall third quarter results were very strong with record quarterly sales resulting in robust organic sales growth of approximately 20 percent and solid operating and free cash flow compared to the prior year,” said Aaron Jagdfeld, president and CEO, in a statement. “The active hurricane season drove significant shipments of portable generators during the quarter as our team worked diligently with our channel partners to quickly get these products to customers in the storm-affected areas.

“Shipments of commercial and industrial products also experienced solid organic growth during the third quarter, with the continued strong recovery in domestic mobile products and healthy end-market demand in our International segment driving the year-over-year increase.”