Quarterly ResultJun 12, 2026, 05:31 PM
Gencor Q2 Net Income Down 37% to $3.84M; Backlog More Than Doubles
AI Summary
Gencor Industries reported a significant decline in net income and revenue for the quarter ended March 31, 2026, with net income falling 37.0% to $3.84 million and net revenue decreasing to $33.80 million. This was primarily attributed to lower contract equipment revenues due to timing of orders and shipments, and increased trade show expenses. Despite the revenue decline, gross profit margins improved by 200 basis points to 31.7%. The company also announced a record backlog of $60.5 million, more than double the prior year, positioning it well for future performance.
Key Highlights
- Net income for Q2 2026 decreased 37.0% to $3.84 million ($0.26 EPS) from $6.10 million ($0.42 EPS) in Q2 2025.
- Net revenue for Q2 2026 was $33.80 million, down from $38.20 million in Q2 2025.
- Gross profit margins increased 200 basis points to 31.7% in Q2 2026 compared to 29.7% in Q2 2025.
- Operating income decreased 34.6% to $4.24 million in Q2 2026 from $6.48 million in Q2 2025.
- Backlog more than doubled to $60.5 million at March 31, 2026, from $27.8 million at March 31, 2025.
- Cash and cash equivalents and marketable securities totaled $155.1 million at March 31, 2026.
- The Company reported no short-term or long-term debt outstanding at March 31, 2026.
Price Impact
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