Generac CEO Highlights Unprecedented Data Center Demand, Forecasts Multi-Year Buildout
Generac (NYSE:GNRC) Chairman and CEO Aaron Jagdfeld stated in a July 29 CNBC interview that the company has seen unprecedented demand for data center infrastructure. Over $1 billion in orders were booked within 90 days, signaling strong momentum driven by long-term planning and capital commitments from clients. The Q2 financial results underscored this shift: Generac reported earnings of $2.91 per share—well above the expected $2.01—with a data center backlog reaching approximately $1.6 billion before including volumes from its second hyperscale customer. Jagdfeld emphasized that the company is transforming away from residential power toward commercial and industrial markets, with C&I revenue growing 29% year-over-year. The strategic pivot has been supported by acquisitions like Enercon and Allmand to expand manufacturing capabilities for large-scale generators. Capital expenditures nearly doubled in Q2 as Generac ramps up production capacity ahead of expected demand.
Topics: data centers generac earnings infrastructure buildout