Quarterly ResultMay 8, 2026, 08:43 AM
Gencor Q2 Net Revenue $33.8M; Operating Income +10.4%; Backlog $60.5M
AI Summary
Gencor Industries reported Q2 2026 net revenue of $33.8 million, a decrease from $38.2 million in the prior year, primarily due to the timing of orders and shipments. Despite lower revenue, gross profit margins improved to 31.7%, and operating income increased by 10.4% to $7.16 million, driven by reduced SG&A expenses. Net income slightly declined by 1.7% to $5.99 million. The company ended the quarter with a strong backlog of $60.5 million, more than double the prior year, positioning it well for future performance.
Key Highlights
- Net revenue for Q2 decreased to $33.8M from $38.2M in the prior year.
- Gross profit margin increased 200 basis points to 31.7% from 29.7% YoY.
- Operating income rose 10.4% to $7.16M from $6.48M in the prior year.
- Net income for Q2 slightly decreased 1.7% to $5.99M, or $0.41 basic and diluted EPS.
- Backlog at March 31, 2026, more than doubled to $60.5M from $27.8M YoY.
- Cash and cash equivalents and marketable securities totaled $155.1M at March 31, 2026.
- Net working capital was $207.4M at March 31, 2026.