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What: Shares of generator maker Generac Holdings
So what: Revenue rose 48% in the quarter to $239.1 million, above the $227.9 million analysts expected, and net income was $9.3 million, or $0.14 per share. On an adjusted basis, which Wall Street usually compares against, earnings per share were $0.58, topping estimates of $0.55.
Now what: The company definitely benefited from the hot summer as backup power was on the mind of homeowners and businesses. I think this will continue to drive sales as people on the East Coast, in Texas, and those watching outages in India become more aware of the need for backup power. With shares trading at just 10.3 times forward earnings, I think they can move significantly higher from here.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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