Power equipment manufacturer Generac Holdings Inc. (NYSE: GNRC), Waukesha, WI, reported sales for the third quarter of $363.3 million, an increase of 20.9 percent compared to the same period a year ago. Profit increased 84.7 percent to $47.1 million.
“We experienced double-digit organic revenue growth again during the quarter as a result of increased spending from our national account customers and continued adoption of standby generators for both residential and commercial applications,” said Aaron Jagdfeld, president and CEO. “We believe our expanded dealer base, targeted marketing efforts and continued roll-out of our PowerPlay in-home sales process are having an impact."
For the first nine months, sales were $1.1 billion, an increase of 33 percent compared to the same period a year ago. Profit increased 94.1 percent to $126 million.