Before a hurricane such as the recent Hurricane Idalia makes landfall, consumers typically load up on flashlights, batteries and plywood from chains such as Home Depot and Lowe’s , or they might try and buy a generator from Generac . But behind the scenes, there is a host of companies that benefit from the cleanup and rebuilding that follows natural disasters. This year’s Atlantic hurricane season is running above average compared to prior years, with 14 storms, four hurricanes and three major hurricanes so far. Hurricane Lee, which was a Category 1 hurricane as of Friday morning, grew in size as it traveled toward New England and Canada this week. As climate change feeds extreme weather, the number of billion-dollar disasters also increases, benefiting some companies more than others. In 2022, the U.S. experienced 18 weather and climate disasters that cost at least $1 billion each. “The frequency of extreme hurricanes seems to be becoming more regular,” said Andrew Chanin, who has run the Procure Disaster Recovery Strategy ETF since it opened in June 2022. “To the extent that we should be expecting more intense hurricane seasons, that makes investors and makes individuals wonder if they’re doing enough” to prepare. The exchange-traded fund, with just $2.2 million in assets, tracks companies that help mitigate or recover from natural disasters, such as hurricanes, wildfires, …
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