Generator Business Not Only About Hurricanes

Despite the slow storm season so far, the CEO of Generac, the leading maker of emergency generators, Aaron Jagdfeld says “the business isn’t all about hurricanes.”

During an interview with FOX Business Network’s Charles Payne Jagdfeld said “it’s the garden variety of outages that happen from thunderstorms.”

Jagdfeld said the company has seen a pickup in the commercial and industrial business.

“70 percent of outages do happen because of weather. Weather has just been a bit slower the last few years -- so our residential business has just been a little bit slower as a result.”

He also discussed consumer trends.

“One of the trends that we’ve seen that has picked up is aging in place concept where people want to stay in their homes beyond retirement. They want to stay as long as they can in their own homes. Adding… different products like a backup generator for instance definitely can help people maintain their independence a lot longer -- so we’ve seen some interest along those guidelines,” he said.