Waukesha, WI-based Generac, a designer and manufacturer of generators and other engine-powered products, reported its 2014 fourth quarter and full year earnings on Wednesday. Its financials showed the company topped analysts' estimates as revenue climbed on higher commercial and industrial product sales.
Generac Q4 sales were $404 million, up from $376.2 million a year ago. Analysts expected $360.7 million. Fourth quarter profit was $49.4 million, up 1.9 percent year-over-year.
Q4 commercial and industrial product sales increased 17.1 percent, primarily from recent acquisitions and strength in oil and gas markets. Residential product sales decreased compared to Q3, but were still better than Q4 2013, rising 6.1 percent.
For the year, Generac had a profit of $174.6 million, with revenue of $1.46 billion. Commercial and industrial product sales increased 14.4 percent in 2014.
Going forward, Generac anticipates 2015 sales rising in the low-to-mid-single digit range compared with the prior year.
