Generac Suspends Sales to Russia

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Mar 08, 2022, 15:36 ET

WAUKESHA, Wis., March 8, 2022 /PRNewswire/ -- Generac Holdings Inc. (NYSE: GNRC) ("Generac"), a leading global designer, manufacturer and provider of energy technology solutions and other power products, today announced that, effective immediately, the Company is temporarily suspending its branch operations and sales in Russia.

"Generac joins the global community in denouncing the Russian regime's attacks on Ukraine," said Aaron Jagdfeld, president and chief executive officer of Generac. "Our hearts go out to the Ukrainian people, and we stand in solidarity with others around the world in calling for peace."

Sales in Russia comprise less than 1% of Generac's total revenue, and the impact on the Company's financial results is not expected to be material.

Generac does not have any employees stationed in Ukraine.

About Generac
Generac Power Systems, Inc. (NYSE: GNRC) is a leading energy technology company that provides advanced power grid software solutions, backup and prime power systems for home and industrial applications, solar + battery storage solutions, virtual power plant platforms and engine- and battery-powered tools and equipment. Founded in 1959, Generac introduced the first affordable backup generator and later created the category of automatic home standby generator - a market in which nearly eight of ten generators sold is a Generac. The company is committed to sustainable, cleaner energy products poised to revolutionize the 21st century electrical grid.

Contact: Tami Kou
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SOURCE Generac Power Systems, Inc.