Generac CEO Chases Storm Profits

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Jan. 2 (Bloomberg) –- Generac CEO Aaron Jagdfeld discusses how his company, one of America’ top manufacturers of portable and stand-by generators, benefits from major storms with Pimm Fox on Bloomberg Television’s “Taking Stock.” (Source: Bloomberg)

Joins us from the walkie wisconsin.

Aaron jagdfeld, good to have you with us.

Tell us what you have experience in terms of whether and how people might want to prepare.

We had this in the upper midwest.

We are just north of chicago.

We had some pretty good snowfall.

To the east of us and michigan, we had a pretty good ice storm.

A lot of what it was going into michigan and in the toronto area.

Unfortunately, when you have an outage, everyone wants a generator.

They have become in very high demand and trying to find them.

Let's say that you have some foresight and you have decided to investigate this whole world.

Give us an idea of the range of generators that you make and perhaps the unknown applications for some of them.

We are looking at a small portable generator.

This is how people resolve power outages for a long time.

It is a gasoline powered generator.

The berkeley a rope start.

You have to cross and the refill the gas.

-- you have a rope start.

It works in a pinch.

We have seen a migration to a more permanently installed solution.

This is a category that in the past decade has taken off and these run off of natural gas and propane are fully automatic.

You don't have to be home.

The product steps up from there.

Businesses without power.

You cannot create any revenue and you have inventory spoilage issues.

The mobile towers themselves, the mobile cell phone towers, the wireless towers need power as well.

Good markets to be had.

Businesses such as filling stations or parking garages, if they don't have power, you're not getting gasoline and you're not getting out of that parking space.

That's right.

When the grid goes down, homes, businesses, there's just so much, particularly when you get into things and the hospitals, clinics, places where that type of daily care is necessary.

The more dependent we become on electricity, the more you need to have a backup strategy.

Was superstorm sandy a moment in which the realization that backup generation was a mainstay?

Was that a real moment in your history?

I think it certainly was if not to become a watershed event it was a strong reminder to people how fragile and frail the grid is.

When you have an event like that, in a heartbeat you have two weeks of no power for people and it is such a massive chaos.

The infrastructure from filling stations to everything else is dependent on that power.

Basically, life gets very

This text has been automatically generated. It may not be 100% accurate.


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