Gencor Releases Third Quarter Fiscal 2025 Results
Gencor Industries (NYSE American: GENC) reported strong financial results for Q3 2025, with net revenue increasing 5.6% to $27.0 million compared to $25.6 million in Q3 2024. The company's gross profit margins improved to 26.5% from 23.9% year-over-year. Net income rose significantly to $3.8 million ($0.26 per share) from $2.6 million ($0.17 per share) in Q3 2024.
For the nine months ended June 30, 2025, Gencor achieved net revenue of $96.6 million and net income of $13.7 million ($0.94 per share). The company maintains a strong financial position with $136.0 million in cash and marketable securities and no debt. However, backlog decreased to $26.2 million from $46.6 million year-over-year.
Gencor Industries (NYSE American: GENC) ha riportato risultati finanziari solidi per il terzo trimestre del 2025, con un ricavo netto in crescita del 5,6% a 27,0 milioni di dollari rispetto ai 25,6 milioni di dollari del terzo trimestre 2024. Il margine lordo dell'azienda è migliorato raggiungendo il 26,5% contro il 23,9% dell'anno precedente. L'utile netto è aumentato significativamente a 3,8 milioni di dollari (0,26 dollari per azione) dai 2,6 milioni di dollari (0,17 dollari per azione) del terzo trimestre 2024.
Nei nove mesi terminati il 30 giugno 2025, Gencor ha registrato un ricavo netto di 96,6 milioni di dollari e un utile netto di 13,7 milioni di dollari (0,94 dollari per azione). L'azienda mantiene una posizione finanziaria solida con 136,0 milioni di dollari in liquidità e titoli negoziabili e nessun debito. Tuttavia, il portafoglio ordini è diminuito a 26,2 milioni di dollari dai 46,6 milioni di dollari dell'anno precedente.
Gencor Industries (NYSE American: GENC) reportó resultados financieros sólidos para el tercer trimestre de 2025, con ingresos netos que aumentaron un 5,6% hasta 27,0 millones de dólares en comparación con 25,6 millones de dólares en el tercer trimestre de 2024. El margen bruto de la compañía mejoró a 26,5% desde el 23,9% interanual. Las ganancias netas aumentaron significativamente a 3,8 millones de dólares (0,26 dólares por acción) desde 2,6 millones de dólares (0,17 dólares por acción) en el tercer trimestre de 2024.
En los nueve meses terminados el 30 de junio de 2025, Gencor logró ingresos netos de 96,6 millones de dólares y ganancias netas de 13,7 millones de dólares (0,94 dólares por acción). La compañía mantiene una posición financiera sólida con 136,0 millones de dólares en efectivo y valores negociables y sin deudas. Sin embargo, la cartera de pedidos disminuyó a 26,2 millones de dólares desde 46,6 millones de dólares interanuales.
Gencor Industries (NYSE American: GENC)는 2025년 3분기에 강력한 재무 실적을 보고했으며, 2024년 3분기 2,560만 달러에서 5.6% 증가한 2,700만 달러의 순수익을 기록했습니다. 회사의 총이익률은 전년 대비 23.9%에서 26.5%로 개선되었습니다. 순이익은 2024년 3분기 260만 달러(주당 0.17달러)에서 크게 증가하여 380만 달러(주당 0.26달러)를 기록했습니다.
2025년 6월 30일 종료된 9개월 동안 Gencor는 9,660만 달러의 순수익과 1,370만 달러(주당 0.94달러)의 순이익을 달성했습니다. 회사는 1억 3,600만 달러의 현금 및 시장성 증권을 보유하고 부채가 없으며 강력한 재무 상태를 유지하고 있습니다. 다만, 수주 잔고는 전년 동기 대비 4,660만 달러에서 2,620만 달러로 감소했습니다.
Gencor Industries (NYSE American : GENC) a annoncé de solides résultats financiers pour le troisième trimestre 2025, avec un chiffre d'affaires net en hausse de 5,6 % à 27,0 millions de dollars contre 25,6 millions de dollars au troisième trimestre 2024. La marge brute de l'entreprise s'est améliorée pour atteindre 26,5 % contre 23,9 % d'une année sur l'autre. Le bénéfice net a fortement augmenté pour atteindre 3,8 millions de dollars (0,26 dollar par action) contre 2,6 millions de dollars (0,17 dollar par action) au troisième trimestre 2024.
Pour les neuf mois clos au 30 juin 2025, Gencor a réalisé un chiffre d'affaires net de 96,6 millions de dollars et un bénéfice net de 13,7 millions de dollars (0,94 dollar par action). L'entreprise conserve une solide position financière avec 136,0 millions de dollars en liquidités et titres négociables, sans dettes. Cependant, le carnet de commandes a diminué pour s'établir à 26,2 millions de dollars contre 46,6 millions de dollars d'une année sur l'autre.
Gencor Industries (NYSE American: GENC) meldete starke Finanzergebnisse für das dritte Quartal 2025, mit einem Nettoumsatzanstieg von 5,6 % auf 27,0 Millionen US-Dollar gegenüber 25,6 Millionen US-Dollar im dritten Quartal 2024. Die Bruttogewinnmarge des Unternehmens verbesserte sich von 23,9 % auf 26,5 % im Jahresvergleich. Der Nettogewinn stieg deutlich auf 3,8 Millionen US-Dollar (0,26 US-Dollar pro Aktie) von 2,6 Millionen US-Dollar (0,17 US-Dollar pro Aktie) im dritten Quartal 2024.
Für die neun Monate bis zum 30. Juni 2025 erzielte Gencor einen Nettoumsatz von 96,6 Millionen US-Dollar und einen Nettogewinn von 13,7 Millionen US-Dollar (0,94 US-Dollar pro Aktie). Das Unternehmen hält eine starke finanzielle Position mit 136,0 Millionen US-Dollar in Bar- und marktfähigen Wertpapieren und keiner Verschuldung. Allerdings sank der Auftragsbestand im Jahresvergleich von 46,6 Millionen US-Dollar auf 26,2 Millionen US-Dollar.
- Net revenue increased 5.6% year-over-year to $27.0 million in Q3 2025
- Gross profit margins improved to 26.5% from 23.9% year-over-year
- Operating income increased 57.4% to $3.1 million in Q3 2025
- Strong balance sheet with $136.0 million in cash and marketable securities
- Zero debt position maintained
- Net income increased 49.6% to $3.8 million in Q3 2025
- Backlog decreased 43.8% to $26.2 million from $46.6 million year-over-year
- Higher effective tax rate of 26.0% compared to 23.0% in Q3 2024
Insights
Gencor delivered solid Q3 results with revenue up 5.6%, operating income up 57%, and improved gross margins despite a concerning 44% backlog decline.
Gencor's Q3 FY2025 results reveal notable operational improvements across key metrics. Revenue increased
The company's balance sheet remains exceptionally strong, with
Despite these positive elements, a concerning trend emerges in the company's backlog figures. At
The year-to-date performance shows modest but steady growth, with nine-month revenue up
Beyond operating results, Gencor's investment portfolio generated substantial returns, with
Management's commentary suggests continuation of their "stable growth strategy" with dual focus on revenue growth and operational efficiency, but doesn't directly address the significant backlog reduction, which represents the most material risk factor in these otherwise positive results.
ORLANDO, Fla., Aug. 08, 2025 (GLOBE NEWSWIRE) -- Gencor Industries, Inc. (the “Company” or “Gencor”) (NYSE American: GENC) announced today net revenue increased
Product engineering and development expenses decreased
The Company had operating income of
For the quarter ended June 30, 2025, the Company had net other income of
The effective income tax rates for the quarters ended June 30, 2025 and June 30, 2024 were
For the nine months ended June 30, 2025 the Company had net revenue of
At June 30, 2025, the Company had
The Company’s backlog was
Marc Elliott, Gencor’s President, commented, “Our third quarter brought improved results over the prior year both in terms of revenue and profits. The overall performance of our first nine months was also solid with approximately
Gencor is a leading manufacturer of heavy machinery used in the production of highway construction equipment and materials and environmental control equipment.
| GENCOR INDUSTRIES, INC. Condensed Consolidated Income Statements (Unaudited) | ||||||||||||
| For the Quarters Ended June 30, | For the Nine Months Ended June 30, | |||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||
| Net revenue | $ | 26,986,000 | $ | 25,551,000 | $ | 96,606,000 | $ | 92,245,000 | ||||
| Cost of goods sold | 19,843,000 | 19,444,000 | 69,442,000 | 66,282,000 | ||||||||
| Gross profit | 7,143,000 | 6,107,000 | 27,164,000 | 25,963,000 | ||||||||
| Operating expenses: | ||||||||||||
| Product engineering and development | 741,000 | 824,000 | 2,099,000 | 2,518,000 | ||||||||
| Selling, general and administrative | 3,265,000 | 3,290,000 | 10,824,000 | 10,997,000 | ||||||||
| Total operating expenses | 4,006,000 | 4,114,000 | 12,923,000 | 13,515,000 | ||||||||
| Operating income | 3,137,000 | 1,993,000 | 14,241,000 | 12,448,000 | ||||||||
| Other income (expense), net: | ||||||||||||
| Interest and dividend income, net of fees | 1,142,000 | 966,000 | 3,289,000 | 2,485,000 | ||||||||
| Net realized and unrealized gains on marketable securities | 894,000 | 363,000 | 1,037,000 | 2,087,000 | ||||||||
| Total other income (expense), net | 2,036,000 | 1,329,000 | 4,326,000 | 4,572,000 | ||||||||
| Income before income tax expense | 5,173,000 | 3,322,000 | 18,567,000 | 17,020,000 | ||||||||
| Income tax expense | 1,345,000 | 764,000 | 4,827,000 | 3,914,000 | ||||||||
| Net income | $ | 3,828,000 | $ | 2,558,000 | $ | 13,740,000 | $ | 13,106,000 | ||||
| Net income per common share - basic and diluted | $ | 0.26 | $ | 0.17 | $ | 0.94 | $ | 0.89 | ||||
| GENCOR INDUSTRIES, INC. Condensed Consolidated Balance Sheets | ||||||
| ASSETS | June 30, 2025 (Unaudited) | September 30, 2024 | ||||
| Current assets: | ||||||
| Cash and cash equivalents | $ | 27,874,000 | $ | 25,482,000 | ||
| Marketable securities at fair value (cost of | 108,097,000 | 89,927,000 | ||||
| Accounts receivable, less allowance for credit losses of June 30, 2025 and | 3,157,000 | 1,980,000 | ||||
| Contract assets | 12,226,000 | 9,339,000 | ||||
| Inventories, net | 52,872,000 | 63,762,000 | ||||
| Prepaid expenses and other current assets | 1,106,000 | 2,352,000 | ||||
| Total current assets | 205,332,000 | 192,842,000 | ||||
| Property and equipment, net | 10,641,000 | 11,472,000 | ||||
| Deferred income taxes | 3,698,000 | 3,424,000 | ||||
| Other long-term assets | 485,000 | 383,000 | ||||
| Total Assets | $ | 220,156,000 | $ | 208,121,000 | ||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||
| Current liabilities: | ||||||
| Accounts payable | $ | 2,539,000 | $ | 2,001,000 | ||
| Customer deposits | 2,427,000 | 5,018,000 | ||||
| Accrued expenses | 2,944,000 | 3,255,000 | ||||
| Current operating lease liabilities | 369,000 | 330,000 | ||||
| Total current liabilities | 8,279,000 | 10,604,000 | ||||
| Unrecognized tax benefits | 1,933,000 | 1,376,000 | ||||
| Non-current operating lease liabilities | 63,000 | - | ||||
| Total liabilities | 10,275,000 | 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 June 30, 2025 and September 30, 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 June 30, 2025 and September 30, 2024 | 232,000 | 232,000 | ||||
| Capital in excess of par value | 12,590,000 | 12,590,000 | ||||
| Retained earnings | 195,825,000 | 182,085,000 | ||||
| Total shareholders’ equity | 209,881,000 | 196,141,000 | ||||
| Total Liabilities and Shareholders’ Equity | $ | 220,156,000 | $ | 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. 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 recent tariff announcements, (ii) the invasion by Russia into Ukraine, and (iii) the 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, 2024: (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 |
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