Gencor Announces the Retirement of EJ Elliott and Appointment of Marc Elliott

Rhea-AI Summary

Gencor (NYSE American: GENC) announced that EJ Elliott, founder and long-time Executive Chairman, will retire effective December 31, 2025. EJ founded the company in 1968 and served as Chairman since that year; he was CEO from 1968 to 2016.

In connection with the retirement, the Board appointed Marc Elliott to serve as Chairman effective January 1, 2026. Marc has served on Gencor’s Board since 2007 and currently serves as the company’s President. Gencor manufactures heavy machinery for highway construction and environmental control equipment.

Positive

• Chairman transition effective Jan 1, 2026
• Internal successor: Marc Elliott is current President
• Marc Elliott has served on the Board since 2007

Negative

• Founder EJ Elliott leaves role effective Dec 31, 2025
• Loss of founder leadership after service beginning in 1968
• Potential governance transition risk around new chairmanship

Key Figures

Retirement effective date December 31, 2025 Effective date for EJ Elliott’s retirement as Executive Chairman

New Chairman effective date January 1, 2026 Effective date for Marc Elliott’s appointment as Chairman

Company founding year 1968 Year EJ Elliott founded Gencor and became Chairman

CEO tenure 1968–2016 Period EJ Elliott served as Chief Executive Officer

Market Reality Check

$13.24 Last Close

Volume Volume 29,035 vs 20-day average 27,685 (relative volume 1.05), indicating typical trading activity ahead of this announcement. normal

Technical Shares at $12.52 are trading below the 200-day MA of $13.85, and about 37.12% below the 52-week high of $19.91.

Peers on Argus

GENC was down 1.57% with peers mixed: AGFY up 4.71%, CMCO up 1.56%, while MTW, TWI and WNC were modestly negative. This points to stock-specific factors rather than a broad sector move.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 09	Full-year earnings	Neutral	-1.8%	Modest FY2025 growth with strong balance sheet but sharply lower backlog.
Aug 08	Quarterly earnings	Positive	+2.0%	Q3 2025 revenue and margin expansion with higher net income and no debt.
Jul 25	Quarterly earnings	Neutral	+9.7%	Q2 revenue decline and backlog weakness but strong cash and no debt.
Jul 25	Quarterly earnings	Positive	+9.7%	Q1 2025 revenue growth and higher operating income despite lower net income.
Jun 27	Full-year earnings	Neutral	+3.8%	FY2024 revenue growth with flat net income and solid cash position.

Pattern Detected

Recent earnings and results-related news often coincided with positive price moves, especially on stronger quarters, though mixed or softer updates saw more muted or negative reactions.

Recent Company History

Over the last six months, Gencor has mainly been in focus for earnings and financial updates. Q1 and Q2 fiscal 2025 results on Jul 25 drove strong positive reactions, reflecting solid revenue growth and profitability, despite some margin pressure and backlog declines. Q3 2025 results on Aug 8 were also well received. More recently, the FY2025 report on Dec 9 showed modest full-year growth but a weaker backlog and produced a small negative move. Against this backdrop, the current leadership transition announcement follows a period characterized by strong balance sheet metrics but softening order trends.

Market Pulse Summary

This announcement details the retirement of Gencor’s founder as Executive Chairman on December 31, 2025 and the appointment of the current President as Chairman effective January 1, 2026, signaling a planned leadership transition. Recent history shows modest revenue growth, strong cash and no debt, but also a declining backlog and previously disclosed internal control weaknesses. Investors may monitor how the new Chairman addresses order trends, governance remediation, and capital allocation against this operational backdrop.

Key Terms

forward-looking statements regulatory

"may contain certain “forward-looking statements” within the meaning of Section 27A"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

section 21e of the securities exchange act of 1934 regulatory

"and Section 21E of the Securities Exchange Act of 1934, as amended"

Section 21E of the Securities Exchange Act of 1934 creates a legal safe harbor for forward-looking statements — projections, plans, estimates or predictions — made by public companies, provided those statements are identified as forward-looking and accompanied by meaningful cautionary language about risks and uncertainties. For investors, it matters because it helps distinguish promotional predictions from factual disclosures and signals which optimistic forecasts carry legal protection and which risks the company has warned could affect outcomes, like a weather forecast that comes with a disclaimer about changing conditions.

exchange act regulatory

"and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)"

A federal law that sets rules for trading securities on public exchanges, requiring companies and market participants to register, disclose regular financial information, and follow standards that promote honest, orderly markets. For investors, it matters because it creates transparency and legal protections—like stopping insider trading and ensuring timely company disclosures—so you can evaluate risks and rely on consistent rules much as players rely on a referee to keep a game fair.

annual report on form 10-k regulatory

"see the following sections of the Company’s Annual Report on Form 10-K for the year"

An annual report on Form 10‑K is a required, comprehensive filing that publicly traded companies give to regulators and investors summarizing their business, results of operations, detailed financial statements reviewed by independent auditors, material risks, legal issues and management’s discussion of performance. Investors use it like a company’s year‑end report card and medical checkup: it reveals how the business made money, where it is vulnerable, and the facts needed to compare value, judge risk and make informed investment decisions.

risk factors regulatory

"Part I, Item 1A, “Risk Factors” and (b) Part II, Item 7"

Risk factors are elements or conditions that could cause an investment's value to decrease or lead to potential losses. They are like warning signs or obstacles that can affect the success of an investment, making it uncertain or more unpredictable. Recognizing risk factors helps investors understand the possible challenges and make more informed decisions.

management’s discussion and analysis of financial condition and results of operations financial

"Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations”"

A narrative section in a company’s financial reports where executives explain recent results, financial condition, cash flow, key drivers and risks in plain language. It matters to investors because it adds context and forward-looking insight beyond raw numbers—like a tour guide pointing out causes of past performance, potential pitfalls and management’s plans—helping assess whether the company’s trends and assumptions are credible and likely to continue.

AI-generated analysis. Not financial advice.

ORLANDO, Fla., Dec. 23, 2025 (GLOBE NEWSWIRE) -- Gencor Industries, Inc. (the “Company” or “Gencor”) (NYSE American: GENC) today announced the retirement of EJ Elliott, who serves as the Executive Chairman of the Company’s Board of Directors (the “Board”), effective December 31, 2025.

EJ Elliott founded the Company in 1968 and has been Chairman of the Board since 1968. He served as the Chief Executive Officer of the Company from 1968 to 2016.

In connection with EJ Elliott’s retirement, the Board of Directors has appointed Marc Elliott to serve as Gencor’s Chairman effective January 1, 2026. Marc Elliott has served on Gencor’s Board of Directors since 2007 and currently serves as Gencor’s President.

Gencor is a leading manufacturer of heavy machinery used in the production of highway construction equipment and materials and environmental control equipment.

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. 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. The Company’s actual results may differ materially from those set forth in the Company’s forward-looking statements 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 U.S. government’s tariff announcements, (ii) the ongoing conflict between Russia and Ukraine, and (iii) the ongoing conflict between Israel and Hamas, including hostilities involving 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, 2025: (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

When will EJ Elliott officially retire from Gencor (GENC)?

EJ Elliott’s retirement is effective December 31, 2025.

Who will replace EJ Elliott as chairman of Gencor (GENC)?

The Board appointed Marc Elliott as chairman effective January 1, 2026.

What roles does Marc Elliott currently hold at Gencor (GENC)?

Marc Elliott currently serves as Gencor’s President and has been a Board director since 2007.

How long has EJ Elliott been associated with Gencor before retiring?

EJ Elliott founded Gencor in 1968 and has served as Chairman since that year.

Does the Gencor (GENC) announcement change the company’s executive management immediately?

The announcement changes the Board chairmanship effective Jan 1, 2026; no other executive changes were announced.

What products does Gencor (GENC) manufacture?

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