Generator Maker Powers Up for Matthew's Aftermath
Most people hunker down during a hurricane, but for a power generator maker it can mean big business.
“There’s a certain part of our business where Mother Nature plays a certain role in terms of driving demand,” said Generac Power Systems CEO Aaron Jagdfeld to FBN’s Stuart Varney.
Jagdfeld said despite the surge in business during a major storm, regular widespread outages caused by everyday storms also increases demand.
“The everyday garden variety thunderstorms, winter storms, things that knock out power to 5,000 people here, or 10,000 people there have become very prevalent,” he said.
While many have taken a “proactive approach” to order back-up power before Hurricane Matthew hit, Jagdfeld said he expects a flood of orders after the storm passes.
“We’ve got a lot of people headed in that direction for technical support and other things… after the storm passes and the lights go off and come back on, that’s when people really look at the permanently installed units that have become very popular,” he said.