Generac Holdings Inc.: Acquisition of Ageto for Strengthening of Microgrid Control & Energy Solutions

Generac Holdings Inc. reported its financial results for the second quarter of 2024, presenting both strengths and weaknesses in its performance. The company saw a near-flat year-over-year net sales at $998 million, with residential product sales increasing by 8%. This growth in the residential sector was primarily driven by a midteens rate increase in home standby generator shipments. However, Global Commercial & Industrial (C&I) product sales decreased by 10% compared to the strong performance in the second quarter of the prior year, mainly due to softness in the telecom and rental markets.