GENCOR INDUSTRIES INC SEC Filings

Gencor Industries, Inc. reported that it has regained compliance with NYSE American continued listing standards after a previous late filing of its Form 10-Q for the quarter ended March 31, 2026. The company had missed the May 18, 2026 due date, which triggered a delinquency notice and the possibility of suspension or delisting.

The company subsequently filed the delayed Form 10-Q on June 12, 2026, within the NYSE American’s initial six-month compliance window. On June 15, 2026, NYSE Regulation notified Gencor that it is now back in compliance with Section 1007 of the NYSE American Company Guide and will be removed from the exchange’s late filers’ list, easing prior listing-related uncertainty.

Gencor Industries reported lower results for the quarter ended March 31, 2026, with net revenue of $33,799,000 versus $38,204,000 a year earlier, mainly from timing of equipment orders and shipments.

Gross margin improved to 31.7% from 29.7%, but operating income declined to $4,236,000 and operating margin to 12.5%, pressured by significantly higher trade show expenses. Net income fell 37.0% to $3,843,000, or $0.26 per share, compared with $0.42 per share a year earlier.

For the six months, revenue was $57,376,000 and net income $7,285,000. Gencor ended the quarter with $155.1 million in cash and marketable securities, no debt, and a backlog of $60.5 million, more than double the prior year.

Gencor Industries, Inc. reported lower sales but remained profitable in its quarter and six months ended March 31, 2026. Quarterly net revenue was $33.8 million versus $38.2 million a year earlier, while six‑month revenue declined to $57.4 million from $69.6 million, mainly from weaker contract equipment sales.

Despite the revenue drop, gross margins improved to 31.7% for the quarter and 30.4% year‑to‑date, helped by mix and cost control. Quarterly net income fell to $3.8 million, or $0.26 per share, from $6.1 million, or $0.42, and six‑month net income declined to $7.3 million, or $0.50 per share, from $9.9 million, or $0.68.

The company had $43.5 million in cash and cash equivalents and $111.7 million in marketable securities, with no debt, and reported backlog of $60.5 million. Management highlighted seasonal demand, uncertainty over U.S. infrastructure funding, tariff‑related developments and inflationary pressures. Previously disclosed material weaknesses in internal control over financial reporting remain under remediation. A change in control involving the president’s ownership interests occurred May 1, 2026, and the chief financial officer plans to retire June 10, 2026, with an interim CFO already appointed.

Gencor Industries, Inc. appointed Raymond Cole as Interim Chief Financial Officer effective June 1, 2026. Cole, age 61, will serve under a consulting agreement on an at-will basis, with compensation of $32,500 per month.

He previously served as Chief Financial Officer of ECD Automotive Design, Inc. and has held senior roles at LuckyJack, LLC, Empowered Media, LLC, and American Express, with earlier experience in mergers and acquisitions at Salomon Smith Barney and JPMorgan Chase. The company states there are no related party transactions or family relationships between Cole and its directors or executive officers.

Gencor Industries, Inc. reported that it received a delinquency notification from NYSE Regulation because it did not file its Quarterly Report on Form 10‑Q for the period ended March 31, 2026 by the May 18, 2026 due date, including the Form 12b‑25 extension.

The company has six months from May 18, 2026 to regain compliance with NYSE American continued listing standards by filing the Form 10‑Q, and the exchange may, at its discretion, grant up to an additional six‑month extension or begin suspension and delisting proceedings at any time. Gencor says it currently expects to file within the initial six‑month period, but it cannot assure that this will occur, although the notice has no immediate effect on the listing or trading of its common stock.

Gencor Industries, Inc. announced that its Chief Financial Officer and Treasurer, Eric Mellen, has decided to retire effective June 10, 2026. Mellen notified the company of his retirement decision on May 14, 2026. The company has begun a search to consider candidates for the Chief Financial Officer role.

Gencor Industries, Inc. notified the SEC it cannot timely file its Quarterly Report on Form 10-Q for the period ended March 31, 2026 and submitted a Form 12b-25 stating it will file the Quarterly Report no later than the fifth calendar day following the prescribed due date. The notice states the delay is to complete the review of financial statements.

The company expects to report revenue of $33,799,000 for the quarter ended March 31, 2026 versus $38,204,000 for the quarter ended March 31, 2025, and a backlog of $60.5 million at March 31, 2026 compared with $27.8 million at March 31, 2025. The filing says management is still assessing whether operating income or net income will materially change from the prior-year quarter.

GENCOR INDUSTRIES INC insider data show that E.J. Elliott Family Limited Partnership is a ten percent owner, reporting existing holdings rather than a new transaction. The partnership directly holds 2,022,477 shares of Class B Common Stock and 1,518,828 shares of Common Stock, with E.J. Elliott, LLC as its general partner and indirect owner.

GENCOR INDUSTRIES INC director and President Marc G. Elliott filed an amended insider report to correct the transaction date and reflect a large gifted position held indirectly. The Form 4/A shows a bona fide gift transaction involving 2,022,477 shares of Class B Common Stock on May 1, 2026, reported as an indirect holding "By FLP." A footnote explains that on May 1, 2026, Elliott was assigned interests in E.J. Elliott, LLC, making him the majority member and manager of the LLC, which is the sole general partner of the E.J. Elliott Family Limited Partnership that holds these shares, and he disclaims beneficial ownership except to the extent of his pecuniary interest.