shares of generac holdings inc gnrc sank 107 toward a more than twoyear low in premarket trading wednesday after the maker of home and industrial power systems reported thirdquarter profit and sales that fell well below expectations and cut its fullyear outlook citing disappointing residential sales net income fell to 58 million or 83 cents a share from 132 million or 193 a share in the yearago period excluding nonrecurring items adjusted earnings per share of 175 missed the factset consensus of 322 sales increased 15 to 109 billion but were below the factset consensus of 134 billion for 2022 the company cut its sales growth outlook to 22 to 24 from 36 to 40 and its net income margin guidance to 9 to 10 from 13 to 14 installation capacity for home standby generators continued to grow but still lagged our production output during the third quarter said chief executive aaron jagdfeld this has resulted in higher field inventory levels and lower home standby generator orders from our channel partners than previously expected even as end customer demand continues to be strong driven by elevated power outages most notably from hurricane the stock which is on track to open at the lowest price seen during regularsession hours since july 2020 has tumbled 359 over the past three months through tuesday while the sp 500 spx has lost 55