By Generac Holdings Inc. is recalling approximately 64,000 portable home generators produced and sold over a span of 12 years. The reason behind the recall is the presence of “serious fire and burn hazards.”
The affected generators are the Generac Portable Generators, specifically the GP15000E and GB17500E types, which were sold in the market from April 2011 to June 2023. These models were retailed at prices ranging between $3,300 and $3,650.
Generac’s stock (GNRC) has experienced a rise of 1.2% in morning trading. However, over the past three months, it has faced a decline of 5.5% while the S&P 500 index (SPX) has enjoyed a growth of 2.9%.
According to the U.S. Consumer Product Safety Commission, the recalled generators have a fuel tank that fails to vent adequately through the rollover valve. This results in an accumulation of excess pressure within the gas tank, leading to the expulsion of fuel when opened, thereby posing significant fire and burn hazards.
To date, Generac has received a total of 27 reports regarding these generators. These reports include incidents of overheating as well as fuel expulsion when opened. Shockingly, three of these incidents have resulted in severe burn injuries.
As a safety precaution, consumers are urged to immediately discontinue the use of the recalled generators and contact Generac for a free repair kit.
Your safety is our utmost priority. Stay informed, stay safe!
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