UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10 – K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended September 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No. 001-11703 GENCOR INDUSTRIES, INC. Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act ☐ Yes ☒ No Indicate by check mar ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD: From to Commission File Number: 001-11703 GENCOR INDUSTRIES, INC. Delaware 59-0933147 (State or other jurisdiction of incorporation or organization) (IRS Em ...

Financial Performance - For the quarter ended March 31, 2022, net revenue was $30,654,000, representing an increase of 43.4% compared to $21,352,000 for the same quarter in 2021[18] - Gross profit for the quarter was $6,192,000, slightly up from $6,146,000 in the prior year, indicating a stable gross margin[18] - Operating income increased to $1,908,000 for the quarter, compared to $1,239,000 in the same quarter last year, reflecting improved operational efficiency[18] - Net income for the quarter was $439,000, a decrease from $2,288,000 in the prior year, primarily due to net realized and unrealized losses on marketable securities[18] - Basic earnings per share for the quarter ended March 31, 2022, were $0.03, a decrease from $0.16 in the same quarter of 2021[44] - Net income for the quarter ended March 31, 2022, was $439,000, or $0.03 basic and diluted earnings per share, down from $2,288,000, or $0.16 basic and diluted earnings per share, for the same quarter in 2021[88] Revenue and Sales - Equipment sales recognized over time amounted to $10,998,000 for the quarter ended March 31, 2022, compared to $3,870,000 in the same quarter of 2021, indicating a significant increase of 184.5%[52] - Net revenues for the quarter ended March 31, 2022, were $30,654,000, an increase of $9,302,000 compared to $21,352,000 for the same quarter in 2021, reflecting the impact of the $1.2 trillion infrastructure bill signed into law in November 2021[82] - Net sales increased by $10,444,000 to $50,760,000 for the six months ended March 31, 2022, compared to $40,316,000 for the same period in 2021, driven by the new $1.2 trillion infrastructure bill[89] Assets and Liabilities - Total current assets increased to $173,603,000 as of March 31, 2022, up from $166,823,000 at September 30, 2021, driven by higher inventories and accounts receivable[15] - Total liabilities rose to $19,065,000 as of March 31, 2022, compared to $12,173,000 at September 30, 2021, largely due to increased customer deposits[15] - Cash and cash equivalents decreased to $22,571,000 at the end of the quarter, down from $23,232,000 at the end of the previous fiscal year[15] - The company’s net inventories as of March 31, 2022, totaled $47,222,000, an increase from $41,888,000 as of September 30, 2021[42] - Customer deposits related to contracts with customers increased to $10,286,000 at March 31, 2022, from $5,244,000 at September 30, 2021[59] Expenses - Selling, general and administrative expenses decreased to $3,364,000 for the quarter ended March 31, 2022, compared to $3,838,000 for the same quarter in 2021, attributed to lower professional fees[84] - Product engineering and development expenses decreased to $920,000 for the quarter ended March 31, 2022, from $1,069,000 in the same quarter of 2021, primarily due to reduced headcount[84] - Product engineering and development expenses rose by $355,000 for the six months ended March 31, 2022, compared to the same period in 2021[91] Marketable Securities - The company reported net unrealized losses of $(1,598,000) for the quarter ended March 31, 2022, compared to net unrealized gains of $596,000 for the same quarter in 2021[37][38] - As of March 31, 2022, total marketable securities measured at fair value were $94,501,000, with $70,479,000 classified as Level 1 and $24,022,000 as Level 2[37] Operational Metrics - The effective income tax rate for the quarter ended March 31, 2022, was 24.2%, compared to 20.0% for the same quarter in 2021[88] - Cash provided by operations during the six months ended March 31, 2022, was $1,045,000[98] - Cash flows used in investing activities for the six months ended March 31, 2022, were $1,706,000, primarily for capital expenditures[99] - The Company had $22,571,000 in cash and cash equivalents and $94,501,000 in marketable securities as of March 31, 2022[97] Backlog and Contracts - The Company's backlog increased to $44.9 million at March 31, 2022, compared to $42.6 million at March 31, 2021[98] - Costs incurred on uncompleted contracts were $19,501,000 as of March 31, 2022, compared to $11,483,000 as of September 30, 2021, reflecting an increase of 70.4%[43] - The estimated earnings on uncompleted contracts were $5,875,000 as of March 31, 2022, compared to $4,395,000 as of September 30, 2021, indicating a growth of 33.6%[43] Strategic Developments - The acquisition of Blaw-Knox assets in October 2020 has allowed the company to enter the asphalt paver sector, contributing to its market expansion strategy[26] - One customer accounted for 13.6% of net revenues during the quarter ended March 31, 2022, compared to 12.0% for another customer in the same quarter of 2021[47]

Table of Contents Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED DECEMBER 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD: From to Commission File Number: 001-11703 GENCOR INDUSTRIES, INC. Delaware 59-0933147 (State or other jurisdiction of incorporation or ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Delaware 59-0933147 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) FORM 10-K 5201 North Orange Blossom Trail Orlando, Florida 32810 ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Address of principal executive offices, including zip code) For the Fiscal Year Ended September 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SEC ...

Table of Contents Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD: From to Commission File Number: 001-11703 GENCOR INDUSTRIES, INC. Delaware 59-0933147 (State or other jurisdiction of incorporation or org ...

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD: From to Commission File Number: 001-11703 GENCOR INDUSTRIES, INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2021 OR Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 ...

Part I. Financial Information [Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) Q1 FY2021 net income decreased to **$1.55 million** due to an operating loss from Blaw-Knox acquisition costs [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of December 31, 2020, total assets slightly increased to **$173.3 million**, driven by higher inventories, while total liabilities rose to **$10.5 million** and shareholders' equity reached **$162.8 million** Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | Dec 31, 2020 | Sep 30, 2020 | | :--- | :--- | :--- | | Cash and cash equivalents | $23,957 | $35,584 | | Marketable securities | $92,049 | $89,498 | | Inventories, net | $35,473 | $27,090 | | Total current assets | $160,066 | $161,758 | | **Total Assets** | **$173,312** | **$171,094** | | Total current liabilities | $8,727 | $8,514 | | **Total Liabilities** | **$10,541** | **$9,874** | | **Total Shareholders' Equity** | **$162,771** | **$161,220** | [Condensed Consolidated Statements of Income](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) Net revenue increased slightly to **$19.0 million** in Q1 FY2021, but an operating loss of **$1.1 million** led to a net income decrease to **$1.55 million** Quarterly Income Statement Comparison (in thousands) | Metric | Q1 2021 (ended Dec 31, 2020) | Q1 2020 (ended Dec 31, 2019) | Change | | :--- | :--- | :--- | :--- | | Net revenue | $18,964 | $18,030 | +5.2% | | Gross profit | $2,981 | $4,320 | -31.0% | | Operating income (loss) | $(1,058) | $1,172 | -190.3% | | Net income | $1,551 | $2,489 | -37.7% | | Diluted EPS | $0.11 | $0.17 | -35.3% | [Condensed Consolidated Statements of Shareholders' Equity](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Shareholders%27%20Equity) Shareholders' equity increased to **$162.8 million** as of December 31, 2020, solely due to the quarter's net income - Total shareholders' equity grew by **$1.55 million** during the quarter, entirely due to net income, reaching **$162.8 million** as of December 31, 2020[17](index=17&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Operating cash flow was **$3.7 million**, but investing activities used **$15.3 million**, primarily for the Blaw-Knox acquisition, resulting in a net cash decrease of **$11.6 million** Quarterly Cash Flow Summary (in thousands) | Cash Flow Category | Q1 2021 (ended Dec 31, 2020) | Q1 2020 (ended Dec 31, 2019) | | :--- | :--- | :--- | | Cash flows provided by operating activities | $3,705 | $4,047 | | Cash flows used in investing activities | $(15,332) | $(6) | | Net increase (decrease) in cash | $(11,627) | $4,041 | | **Cash and cash equivalents at end of period** | **$23,957** | **$14,343** | - The company used **$14.4 million** in cash for the acquisition of Blaw-Knox during the quarter[20](index=20&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Key notes detail the **$14.4 million** Blaw-Knox acquisition, a shift in revenue recognition, and significant customer concentration - On October 1, 2020, the Company acquired the Blaw-Knox paver product line and associated assets for an initial purchase price of approximately **$14.4 million**, funded by cash on hand, including **$11.0 million** in inventory and **$3.4 million** in fixed assets[23](index=23&type=chunk) Disaggregated Net Revenue by Source (in thousands) | Revenue Source | Q1 2021 (ended Dec 31, 2020) | Q1 2020 (ended Dec 31, 2019) | | :--- | :--- | :--- | | Equipment sales recognized over time | $4,132 | $12,090 | | Equipment sales recognized at a point in time | $10,136 | $1,907 | | Parts and component sales | $3,931 | $3,146 | | **Total Net Revenue** | **$18,964** | **$18,030** | - During the quarter ended December 31, 2020, three customers accounted for **15.5%**, **12.0%**, and **10.5%** of net revenues, respectively, indicating significant customer concentration[45](index=45&type=chunk) - The company entered into new operating leases related to the Blaw-Knox acquisition, resulting in a Right-of-Use (ROU) asset of **$1.1 million** and total lease liabilities of **$1.1 million** as of December 31, 2020[61](index=61&type=chunk)[63](index=63&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=16&type=section&id=Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Q1 FY2021 revenue increased by **5.2%**, but gross margin declined to **15.7%** due to **$1.5 million** in unabsorbed overhead from the Blaw-Knox acquisition, while liquidity remains strong with **$24.0 million** in cash and **$92.0 million** in marketable securities Q1 2021 vs Q1 2020 Performance | Metric | Q1 2021 (ended Dec 31, 2020) | Q1 2020 (ended Dec 31, 2019) | | :--- | :--- | :--- | | Net Revenues | $18,964,000 | $18,030,000 | | Gross Profit Margin | 15.7% | 24.0% | | Operating Income (Loss) | $(1,058,000) | $1,172,000 | | Net Income | $1,551,000 | $2,489,000 | - Gross profit margin was negatively impacted by approximately **$1.5 million** of unabsorbed manufacturing labor and overhead expenses related to the Blaw-Knox paver product line, which has not yet started production[77](index=77&type=chunk) - Selling, general and administrative (SG&A) expenses increased by **$0.81 million**, primarily due to approximately **$0.5 million** in professional fees, salaries, and other expenses related to the Blaw-Knox acquisition[78](index=78&type=chunk) - The company's backlog was **$32.1 million** at December 31, 2020, compared to **$30.9 million** at December 31, 2019[85](index=85&type=chunk) - As of December 31, 2020, the company had **$24.0 million** in cash and cash equivalents and **$92.0 million** in marketable securities[84](index=84&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=21&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) This section is not applicable for the reporting period - The company has indicated that this item is not applicable[105](index=105&type=chunk) [Controls and Procedures](index=21&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were effective as of December 31, 2020, with no material changes in internal control over financial reporting during the quarter - Based on an evaluation, the Chief Executive Officer and Principal Financial and Accounting Officer concluded that the Company's disclosure controls and procedures are effective as of the end of the quarter[106](index=106&type=chunk) - No changes in the Company's internal control over financial reporting occurred during the quarter ended December 31, 2020, that materially affected, or are reasonably likely to materially affect, these controls[108](index=108&type=chunk) Part II. Other Information [Legal Proceedings](index=22&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in ordinary course legal proceedings, none of which are deemed material to the business - The company states that it does not believe any current legal proceedings are material to its business[110](index=110&type=chunk) [Risk Factors](index=22&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the year ended September 30, 2020 - During the quarter ended December 31, 2020, there were no material changes to the risk factors previously disclosed in the Annual Report on Form 10-K for the fiscal year ended September 30, 2020[111](index=111&type=chunk) [Exhibits](index=22&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including CEO and CFO certifications and Interactive Data Files - Exhibits filed include CEO and CFO certifications pursuant to Rule 13a-14(a) and 18 U.S.C. Section 1350, as well as XBRL Interactive Data Files[112](index=112&type=chunk)

Washington, D.C. 20549 FORM 10 – K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended September 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No. 001-11703 GENCOR INDUSTRIES, INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Exact name of registrant as specified in its charter) Delaware 59-0933147 (State or other jurisdiction of incorporation or organization) (I.R.S. Emplo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD: From to Commission File Number: 001-11703 GENCOR INDUSTRIES, INC. Delaware 59-0933147 (State or other jurisdiction of incorporation or organization) (IRS Employer Identifica ...