July 31 (Reuters) - Power equipment maker Generac

Holdings ( GNRC ) raised its full-year sales growth forecast on

Wednesday, banking on strong demand for backup generators in the

aftermath of Hurricane Beryl.

The company expects its 2024 net sales to grow between 4%

and 8% from a year ago, above its previous view of 3% to 7%.

Shares of the company rose 3.8% in premarket trading.

Hurricane Beryl, which hit Texas on July 8, underscored the

rising threat of severe and volatile weather as millions of

people in the state experienced power outages, CEO Aaron

Jagdfeld said.

"This major power outage event is expected to drive

incremental demand for home standby and portable generators in

the current year," he said.

Sales in Generac's ( GNRC ) residential segment, which comprised 60%

of its total sales in 2023, rose 8% to $538 million in the

second quarter, driven by higher shipments of home standby

generators.

However, sales at its commercial and industrial business

segment declined 10%.

Its second-quarter adjusted profit of $1.35 per share

exceeded estimates of $1.18, according to LSEG data. But its

quarterly revenue of $998 million missed analysts' expectations

of $999.97 million.