Gencor Announces NYSE American Acceptance of Compliance Plan

Rhea-AI Summary

Gencor Industries (NYSE American: GENC) announced that NYSE American has accepted its compliance plan and granted an extension until August 19, 2025 to submit delinquent financial reports. The company needs to file its Annual Report (10-K) for the year ended September 30, 2024, and Quarterly Reports (10-Q) for periods ended December 31, 2024, and March 31, 2025.

While currently non-compliant with listing standards, Gencor's listing continues under the extension period. The company expects to file the delinquent reports by the deadline, though there are no guarantees. Failure to comply could result in delisting from NYSE American.

Gencor manufactures heavy machinery for highway construction materials and environmental control equipment.

Positive

• None.

Negative

• Company is not compliant with NYSE American listing standards
• Multiple financial reports are delinquent (10-K and two 10-Qs)
• Risk of delisting if compliance is not achieved by August 19, 2025

News Market Reaction

+3.79%

1 alert

+3.79% News Effect

On the day this news was published, GENC gained 3.79%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

ORLANDO, Fla., June 27, 2025 (GLOBE NEWSWIRE) -- Gencor Industries, Inc. (the “Company” or “Gencor”) (NYSE American: GENC) announced today that NYSE American LLC (“NYSE American”) notified the Company that NYSE Regulation (“NYSE”) accepted the Company’s request for an extension to regain compliance with Sections 134 and 1101 of the NYSE American’s continued listing standards, granting the Company a plan period through August 19, 2025 (the “New Cure Deadline”) to submit its delinquent reports.

The Company requested the extension to allow it additional time to coordinate the completion of its Quarterly Reports on Form 10-Q for the quarterly periods ended December 31, 2024 and March 31, 2025. While the Company is currently not in compliance with the NYSE American continued listing standards as a result of its failure to timely file with the Securities and Exchange Commission its Annual Report on Form 10-K for the year ended September 30, 2024 as well as its Quarterly Reports on Form 10-Q for the quarterly periods ended December 31, 2024 and March 31, 2025, its listing is being continued pursuant to the extension. The Company will be subject to periodic review by NYSE during the extension period. Failure to make progress consistent with the plan or to regain compliance with the continued listing standards by the end of the extension period could result in the Company being delisted from the NYSE American.

The Company currently expects to file its Annual Report on Form 10-K for the year ended September 30, 2024 within the initial six-month period and its Quarterly Reports on Form 10-Q for the quarterly periods ended December 31, 2024 and March 31, 2025 by the New Cure Deadline; however, there can be no assurance that the delinquent reports will be filed within such periods.

Gencor Industries, Inc. is a diversified heavy machinery manufacturer for the production of highway construction materials and equipment and environmental control machinery and equipment used in a variety of applications.

Caution Concerning Forward Looking Statements - This press release and our other communications and statements may contain certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including statements about the Company’s beliefs, plans, objectives, goals, expectations, estimates, projections and intentions. Such forward-looking statements may relate, among other things, to the ability to file all required reports by August 19, 2025, for the Company to remain in compliance with NYSE’s listing rules, and for the Company’s common stock to remain listed. These statements are subject to significant risks and uncertainties and are subject to change based on various factors, many of which are beyond the Company’s control. Actual results may differ materially depending on a variety of important factors, including the financial condition of the Company’s customers, changes in the economic and competitive environments and demand for the Company’s products. In addition, the impact of (i) the US government’s recent tariff announcements, (ii) the invasion by Russia into Ukraine, and (iii) the conflict between Israel, Hamas and Iran, as well as actions taken by other countries, including the U.S., in response to such tariff announcements and conflicts, could result in a disruption in our supply chain and higher costs of our products. The words “may,” “could,” “should,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “target,” “goal,” and similar expressions are intended to identify forward-looking statements.

For information concerning these factors and related matters, see the following sections of the Company’s Annual Report on Form 10-K for the year ended September 30, 2023: (a) Part I, Item 1A, “Risk Factors” and (b) Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations”.

However, other factors besides those referenced could adversely affect the Company’s results, and you should not consider any such list of factors to be a complete set of all potential risks or uncertainties. Any forward-looking statements made by the Company herein speak as of the date of this press release. The Company does not undertake to update any forward-looking statements, except as required by law.

Unless the context otherwise indicates, all references in this press release to the “Company,” “Gencor,” “we,” “us,” or “our,” or similar words are to Gencor Industries, Inc. and its subsidiaries.

Contact: Eric Mellen, Chief Financial Officer
407-290-6000 

FAQ

What is the deadline for Gencor (GENC) to file its delinquent reports with NYSE American?

Gencor has until August 19, 2025 (the New Cure Deadline) to file its delinquent Annual Report and Quarterly Reports to regain compliance.

Which financial reports is Gencor (GENC) currently missing?

Gencor needs to file its Annual Report (10-K) for September 30, 2024, and Quarterly Reports (10-Q) for the periods ended December 31, 2024, and March 31, 2025.

What happens if Gencor (GENC) fails to meet the NYSE American compliance deadline?

If Gencor fails to regain compliance by August 19, 2025, the company could be delisted from the NYSE American exchange.

Will Gencor (GENC) remain listed on NYSE American during the extension period?

Yes, Gencor's listing will continue during the extension period, subject to periodic review by NYSE and progress consistent with the compliance plan.

What is Gencor Industries' main business?

Gencor Industries is a diversified heavy machinery manufacturer that produces highway construction materials and equipment, as well as environmental control machinery for various applications.