Generac stock has had a tough run as it has worked through channel inventory issues. Third-quarter earnings were a relief for investors.
CEO Aaron Jagdfeld said in a news release that the results demonstrate improving operating performance and inventory levels. Inventories at sustainable levels were the key concern for investors. Generac stock fell about 20% after warning in October 2022 that third-quarter earnings would be lower than Wall Street expected because of high dealer inventory levels that led to those dealers not ordering new products.
Barron’s wrote positively about Generac stock in September 2022, believing that sales would grow over the long run as more homes added standby power generation. We missed the impact of dealer inventories on sales growth in 2023.
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