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Superstorm powers Generac projections

Nov. 7, 2012

The massive power outages on the east coast following superstorm Sandy have resulted in an increase in distribution at Generac Holdings Inc., headquartered in Genesee, and an even higher financial projection for the end of the year.

Following a year of strong numbers, net sales increased year-over-year by 25.6 percent to $300.6 million in the third quarter of 2012 as compared to $239.3 million in the third quarter of 2011.

Net sales for the third quarter of 2012 were in line with the high end of the company's previously announced expected range of $295 to $300 million as pre-released on Oct. 1.

Residential product sales increased 17.8 percent compared to the strong third quarter of 2011, in which year-over-year sales growth was 60.5 percent.

Commercial and industrial product sales increased 48.3 percent compared to the prior year third quarter.

As a result of the current major power outage activity, the company is raising its sales growth guidance for full-year 2012 to the low-40 percent range over the prior year, which represents an increase from the low-30 percent growth rate previously expected in the Oct. 1 business update. Diluted net income per common share for 2012 is now expected to be in the range of $1.21 to $1.27, with adjusted diluted net income per common share of $2.95 to $3, compared to the $2.65 to $2.70 per share range previously expected.

"The events of the last few days continue to demonstrate for home owners and business owners the importance of having a backup plan for their power needs. Automatic standby generators have emerged as a cost-effective and increasingly important part of those backup plans. As a result of the increased awareness these outage events provide, adoption rates for home standby and light commercial generators have accelerated over the last several years." said Aaron Jagdfeld, President and Chief Executive Officer after recent storm events.

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Weekend Happenings

Featured this week:  

Country Christmas Outdoor Drive-through Lights Display: Through Dec. 31, 5-9 p.m. Sundays through Thursdays, 5-10 p.m. Fridays, Saturdays and holidays. Country Springs Hotel, 2810 Golf Road, Pewaukee. Wisconsin’s largest drive-through holiday lights event features more than 1 million holiday lights along a mile-long trail that winds through the woods. Includes animated figures and holiday scenes. Call (262) 970-5398 for details. $15 per carload, $25 limo, mini-coach or large van. www.thecountrychristmas.com

Andrea & the Mods: 9:30 p.m. Dec. 27, Delafield Brewhaus, 3832 Hillside Drive, Delafield. For more information call (262) 646-7821 or visit Delafield-brewhaus.com.

The Ricochettes: 8 p.m. Dec. 31, Hollywood’s Road House Bar and Grill, W332N6629 Cty C, Nashotah. The Best of The British Invasion era music performed for listening and dancing.

 

Planetarium Programs: 11 a.m., 1 p.m. Dec. 27, Charles Z. Horwitz Planetarium, S14 W28167 Madison St., Waukesha. ‘Winter Wonders,’ a children’s program, explores treasured Christmas traditions and how other countries celebrate winter solstice. It starts at 11 a.m. ‘The Star of Wonder,’ for all ages, investigates the true date for Christ’s birth and the mysterious Christmas Star. It starts at 1 p.m. $4.

Updates to this calendar are made weekly Monday afternoon. 

 

All weekend happenings.