GENCOR INDUSTRIES INC

Gencor Industries, Inc. reported strong financial results for the quarter ended June 30, 2026, with net revenue increasing to $33.8 million and net income rising 48.5% to $5.68 million. The company also saw an 85.0% increase in operating income and an improved gross profit margin. Furthermore, Gencor's backlog surged to $79.2 million, reflecting strong manufacturing execution and industry momentum, positioning the company well for future performance.

Gencor Industries reported a strong third quarter for 2026, with net revenue increasing by 25.3% to $33.8 million and net income surging by 48.5% to $5.68 million, resulting in diluted EPS of $0.39. However, the nine-month period showed a decline in both net revenue and net income by approximately 5.6% each. The company's total assets grew to $238.98 million, driven by an increase in marketable securities, while operating cash flows for the nine months decreased significantly.

Gencor Industries Inc. has successfully regained compliance with NYSE American continued listing standards. The company had previously received a delinquency notification on May 19, 2026, for failing to timely file its Quarterly Report on Form 10-Q for the period ended March 31, 2026. Gencor filed the overdue Form 10-Q on June 12, 2026, within the six-month period granted by NYSE. Consequently, on June 15, 2026, the company was notified by NYSE that it had regained compliance and was removed from the late filers' list.

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.

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.

GENCOR INDUSTRIES INC (GENC) filed its 10-Q for the period ending March 31, 2026. The company reported a decrease in net revenue and net income for both the third quarter and the first six months of fiscal year 2026 compared to the prior year periods. Total assets, liabilities, and shareholders' equity all saw increases by the end of the reporting period. The filing also detailed changes in marketable securities, inventories, and contract assets/liabilities.

Gencor Industries, Inc. announced the appointment of Mr. Raymond Cole as its Interim Chief Financial Officer, effective June 1, 2026. Mr. Cole brings extensive financial and leadership experience, having previously served as CFO of ECD Auto Design where he oversaw financial restructuring, a de-SPAC transaction, capital raises, and acquisitions. His career also includes roles as CEO at LuckyJack, LLC, COO/CFO at Empowered Media, LLC, and M&A experience at Salomon Smith Barney and JPMorgan Chase.

Gencor Industries, Inc. announced it received a delinquency notification from NYSE Regulation on May 19, 2026, for failing to timely file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2026. This places the company in non-compliance with NYSE American's continued listing standards. Gencor has six months from May 18, 2026, to file the Form 10-Q and regain compliance, with a potential extension of up to six additional months. The notification has no immediate impact on the trading of its common stock, and the company expects to file within the initial six-month period.

Gencor Industries, Inc. announced it received a delinquency notification from NYSE Regulation on May 19, 2026, for failing to timely file its Quarterly Report on Form 10-Q for the period ended March 31, 2026. The company has an initial six-month period from May 18, 2026, to regain compliance by filing the overdue report. While Gencor expects to file within this period, there is no assurance, and the NYSE reserves the right to commence delisting proceedings at any time.

Gencor Industries, Inc. announced that Eric Mellen, its Chief Financial Officer and Treasurer, provided notice of his decision to retire. His retirement will be effective on June 10, 2026. The company has commenced a search to identify suitable candidates for the Chief Financial Officer position.