: Generac stock jumps 5% as profit and revenue overpower analyst estimates
Generac Holdings Inc.’s stock GNRC was up 5.3% in premarket trading on Thursday after the generator maker’s third-quarter profit and revenue beat analyst estimates. Generac said its third-quarter profit rose to $60 million, or 97 cents a share, from $58 million, or 83 cents a share, in the year-ago quarter. Adjusted net income in the latest quarter totaled $1.64 a share, ahead of the FactSet consensus estimate of $1.55 a share. Revenue dipped 2% to $1.07 billion, ahead, of the analyst expectation of $1.04 billion. The company cited a “strong sequential increase” in shipments of home standby generators.
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