Gencor Industries Q2 Revenue Declines 11.5% to $33.8M; Backlog Doubles
Gencor Industries announced its second quarter fiscal 2026 financial results, reporting a decrease in net revenue to $33.8 million from $38.2 million in the prior year, primarily due to lower contract equipment and freight revenues. Despite the revenue decline, gross profit margins improved to 31.7%. Operating income saw a significant decrease of 34.6% to $4.2 million, largely attributed to increased trade show expenses. Net income for the quarter was $3.8 million, or $0.26 per share, down from $6.1 million, or $0.42 per share, in the same period last year. The company highlighted a substantial increase in its backlog to $60.5 million, more than double the previous year, driven by infrastructure funding.
Key Highlights
- Gencor Industries reported Q2 FY2026 net revenue of $33.8M, down from $38.2M in Q2 FY2025.
- Gross profit margins improved to 31.7% in Q2 FY2026 from 29.7% in Q2 FY2025.
- Operating income decreased by 34.6% to $4.2M in Q2 FY2026, impacted by higher trade show expenses.
- Net income for Q2 FY2026 fell 37.0% to $3.8M, or $0.26 per share, compared to $6.1M, or $0.42 per share, in Q2 FY2025.
- For the six months ended March 31, 2026, net revenue was $57.4M and net income was $7.3M ($0.50/share).
- Backlog increased to $60.5M at March 31, 2026, from $27.8M at March 31, 2025.
- Cash and cash equivalents and marketable securities totaled $155.1M at March 31, 2026.
Price Impact
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