Gencor Releases Fourth Quarter and Fiscal Year 2025 Results
Rhea-AI Summary
Gencor (NYSE: GENC) reported fourth-quarter net revenue of $18.8M, down 10.0% year-over-year, and fiscal 2025 net revenue of $115.4M, up 2.0% versus fiscal 2024. Gross margin was 24.2% in Q4 and 27.5% for the year. Fiscal 2025 operating income was $14.02M versus $13.69M in 2024, and net income was $15.66M, or $1.07 per share, versus $14.56M, or $0.99 per share, a year earlier. Cash and marketable securities totaled $136.3M at September 30, 2025; the company reports no short- or long-term debt. Backlog declined to $23.6M at December 1, 2025 from $56.2M a year earlier.
The company cited reduced manufacturing overhead absorption and higher SG&A as drivers of weaker Q4 margins, and noted higher interest income and investment gains supporting yearly net income and cash growth.
Positive
- Fiscal 2025 net revenue up 2.0% to $115.4M
- Fiscal 2025 operating income of $14.02M
- Fiscal 2025 net income of $15.66M; EPS $1.07
- Cash and marketable securities of $136.3M (increase of $20.9M)
- Interest and dividend income rose to $4.37M for FY2025
Negative
- Q4 net revenue down 10.0% to $18.8M
- Q4 operating loss of ($0.2M) versus prior-year operating income
- Backlog fell to $23.6M from $56.2M (Dec 1, 2024 to Dec 1, 2025)
- SG&A increased by $0.61M to $14.94M in fiscal 2025
News Market Reaction 1 Alert
On the day this news was published, GENC declined 1.84%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
GENC was down 1.1% pre-release while peers showed mixed moves: AGFY up 4.71%, TWI up 1.08%, but MTW, CMCO, and WNC all down between 1.49–1.73%, pointing to stock-specific rather than broad sector action.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Aug 08 | Q3 2025 results | Positive | +2.0% | Stronger Q3 revenue, margin expansion and higher net income versus 2024. |
| Jul 25 | Q2 2025 earnings | Neutral | +9.7% | Q2 revenue and margins slightly down but balance sheet strong and no debt. |
| Jul 25 | Q1 2025 earnings | Positive | +9.7% | Q1 revenue up 20.7% with higher operating income despite investment losses. |
| Jun 27 | FY 2024 results | Neutral | +3.8% | FY24 revenue growth but slightly lower net income and stable cash position. |
| Jun 27 | Listing compliance | Positive | +3.8% | NYSE American accepted compliance plan, extending deadline for filings. |
Recent news, especially earnings, has generally been followed by positive price reactions, with all five tracked events showing gains despite some mixed fundamentals like backlog declines and reporting-compliance issues.
Over the last six months, GENC has reported a series of generally solid results. Q1 FY25 showed strong 20.7% revenue growth, while Q2 and Q3 maintained profitability despite some margin and backlog pressure. FY24 results delivered higher revenue but flat earnings, and the company navigated NYSE American compliance through a plan accepted on Jun 27 2025. Today’s FY25 report extends that trajectory with modest full-year growth, higher net income, and continued balance sheet strength but a notably lower backlog.
Market Pulse Summary
This announcement reports modest FY25 growth, with net revenue rising to $115.44M and EPS improving to $1.07, supported by strong cash and marketable securities of $136.3M and no debt. However, Q4 revenue declined and backlog dropped to $23.6M from $56.2M, signaling softer future demand. Investors may watch upcoming quarters for order trends, margin stability, and any updates in the company’s risk disclosures and SEC filings.
Key Terms
marketable securities financial
working capital financial
forward-looking statements regulatory
Exchange Act regulatory
income tax benefit financial
Form 10-K regulatory
Form 10-Q regulatory
AI-generated analysis. Not financial advice.
ORLANDO, Fla., Dec. 09, 2025 (GLOBE NEWSWIRE) -- Gencor Industries, Inc. (the “Company” or “Gencor”) (NYSE American: GENC) announced today net revenue for the fourth quarter ended September 30, 2025 of
Operating loss for the quarter ended September 30, 2025 was (
For the year ended September 30, 2025 net revenue increased
Product engineering and development expense in fiscal 2025 decreased
Fiscal 2025 operating income was
For the year ended September 30, 2025, the Company had net other income of
The effective income tax rate for fiscal 2025 was
Net income for the year ended September 30, 2025 was
At September 30, 2025, the Company had
The Company’s backlog was
Marc Elliott, Gencor’s President, stated, “Our overall performance for the year resulted in increased operating income and revenue, while maintaining profit margins comparable to fiscal 2024 in the face of increased competition in the marketplace. We experienced some top line softening in the last quarter, primarily due to lingering Liberation Day unease, as well as one-time extraordinary expenses that negatively affected gross profit. Despite this, we ended the year with improved net income over 2024, yielding
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.
| GENCOR INDUSTRIES, INC. Consolidated Income Statements For the Years Ended September 30, 2025 and 2024 (Unaudited) | ||||||
| 2025 | 2024 | |||||
| Net revenue | $ | 115,437,000 | $ | 113,166,000 | ||
| Cost of goods sold | 83,724,000 | 81,839,000 | ||||
| Gross profit | 31,713,000 | 31,327,000 | ||||
| Operating expenses: | ||||||
| Product engineering and development | 2,758,000 | 3,313,000 | ||||
| Selling, general and administrative | 14,937,000 | 14,327,000 | ||||
| Total operating expenses | 17,695,000 | 17,640,000 | ||||
| Operating income | 14,018,000 | 13,687,000 | ||||
| Other income (expense), net: | ||||||
| Interest and dividend income, net of fees | 4,373,000 | 3,435,000 | ||||
| Realized and unrealized gains (losses) on marketable securities, net | 1,800,000 | 3,621,000 | ||||
| Other | 8,000 | (13,000 | ) | |||
| 6,181,000 | 7,043,000 | |||||
| Income before income tax expense | 20,199,000 | 20,730,000 | ||||
| Income tax expense | 4,538,000 | 6,172,,000 | ||||
| Net income | $ | 15,661,000 | $ | 14,558,000 | ||
| Net income per common share – basic and diluted | $ | 1.07 | $ | 0.99 | ||
| GENCOR INDUSTRIES, INC. Consolidated Balance Sheets As of September 30, 2025 and 2024 (Unaudited) | |||||
| ASSETS | 2025 | 2024 | |||
| Current assets: | |||||
| Cash and cash equivalents | $ | 26,587,000 | $ | 25,482,000 | |
| Marketable securities at fair value (cost of September 30, 2025and | 109,714,000 | 89,927,000 | |||
| Accounts receivable, less allowance for credit losses of September 30, 2025 and | 3,130,000 | 1,980,000 | |||
| Contract assets | 12,208,000 | 9,339,000 | |||
| Inventories, net | 53,503,000 | 63,762,000 | |||
| Prepaid expenses | 1,399,000 | 2,352,000 | |||
| Total current assets | 206,541,000 | 192,842,000 | |||
| Property and equipment, net | 11,079,000 | 11,472,000 | |||
| Deferred income taxes | 4,584,000 | 3,424,000 | |||
| Other long-term assets | 392,000 | 383,000 | |||
| Total Assets | $ | 222,596,000 | $ | 208,121,000 | |
LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||
| Current liabilities: | |||||
| Accounts payable | $ | 1,842,000 | $ | 2,001,000 | |
| Customer deposits | 3,889,000 | 5,018,000 | |||
| Accrued expenses | 2,741,000 | 3,255,000 | |||
| Current operating lease liabilities | 339,000 | 330,000 | |||
| Total current liabilities | 8,811,000 | 10,604,000 | |||
| Unrecognized tax benefits | 1,983,000 | 1,376,000 | |||
| Total liabilities | 10,794,000 | 11,980,000 | |||
| Commitments and contingencies | |||||
| Shareholders’ equity: | |||||
| Preferred stock, par value $.10 per share; 300,000 shares authorized; none issued | |||||
| Common stock, par value $.10 per share; 15,000,000 shares authorized; | |||||
| 12,338,845 shares issued and outstanding at September 30, 2025 and 2024 | 1,234,000 | 1,234,000 | |||
| Class B Common Stock, par value $.10 per share; 6,000,000 shares authorized; | |||||
| 2,318,857 shares issued and outstanding at September 30, 2025 and 2024 | 232,000 | 232,000 | |||
| Capital in excess of par value | 12,590,000 | 12,590,000 | |||
| Retained earnings | 197,746,000 | 182,085,000 | |||
| Total shareholders’ equity | 211,802,000 | 196,141,000 | |||
| Total Liabilities and Shareholders’ Equity | $ | 222,596,000 | $ | 208,121,000 | |
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. 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 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
What were Gencor's Q4 2025 net revenue and year-over-year change (GENC)?
What is Gencor's fiscal 2025 EPS and net income (GENC)?
How much cash and marketable securities did Gencor hold at September 30, 2025 (GENC)?
Did Gencor have any debt at September 30, 2025 (GENC)?
Why did Gencor's Q4 2025 gross margin fall (GENC)?
How did Gencor's backlog change by December 1, 2025 and why does it matter (GENC)?
