Generac Holdings Inc. has raised its fiscal third quarter and full-year outlook, saying demand is up for its residential generators.
The Waukesha, Wisc manufacturer said Monday third-quarter sales are expected to be in the range of $295 million to $300 million. Net income is expected to be $21.5 million to $25 million, or 31 cents to 36 cents a diluted share.
The company says it expects full-year adjusted earnings of $2.65 to $2.70 per share. Analysts on average were expecting earnings of $2.39 a share on revenue of $985.3 million, according to Thomson Reuters I/B/E/S. Diluted net income for 2012 is expected to be in the range of $1.02 to $1.08.
Demand for home standby and portable generators has increased as a result of recent storms and major power outages, Generac said Monday.