Thursday, November 6, 2014

Lack Of Natural Disasters Hammers Portable Power Co. Generac, Stock Down 7% (GNRC)

This is a classy little company and for anyone looking for a "The world is going to hell but we'll still need emergency electricity" bet, is probably worth a nibble.
$40.38 down $3.14 (7.22%)
From the Milwaukee Journal-Sentinal:
Generac earnings drop 22.5% on lower sales of portable generators
Generac Holdings Inc. reported a 22.5% drop in third-quarter profit as below normal power outage severity cut into sales of portable generators.

The Waukesha maker of power generation equipment said net income fell to $36.5 million, or 52 cents a share, from $47.1 million, or 67 cents, a year earlier. Analysts surveyed by Yahoo Finance were expecting earnings of $1.03 a share.

Revenue declined 3% to $352.3 million from $363.3 million....MORE