Generac Sales Down 8.1% in 1Q

Company acquired Pramac during quarter.

Power equipment manufacturer Generac Holdings Inc. (NYSE: GNRC), Waukesha, WI, reported sales for the first quarter of $286.5 million, a decrease of 8.1 percent compared to the same period a year ago. Profit decreased 48.1 percent to $10.2 million.

Residential sales in the first quarter were up 1.4 percent year-over-year, while commercial and industrial sales decreased 23 percent.

On March 1 the company acquired Italy-based Pramac, a global manufacturer of stationary, mobile and portable generators. Pramac has over 600 employees, four manufacturing plants and 14 commercial branches located around the world.

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