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 Director ...

Core Viewpoint - Gencor Industries, Inc. reported a 5.6% increase in net revenue for the quarter ended June 30, 2025, driven by higher contract equipment sales and parts revenues, alongside improved gross profit margins due to enhanced production activities [1][3][8]. Financial Performance - Net revenue for the quarter ended June 30, 2025, was $26,986,000, up from $25,551,000 in the same quarter of 2024 [1]. - Gross profit margins improved to 26.5% in Q2 2025 from 23.9% in Q2 2024 [1]. - Operating income rose to $3,137,000 for the quarter ended June 30, 2025, compared to $1,993,000 for the same period in 2024, attributed to higher revenues and improved gross margins [3]. - Net income for the quarter ended June 30, 2025, was $3,828,000, or $0.26 per share, compared to $2,558,000, or $0.17 per share, in Q2 2024 [5]. Expense Management - Product engineering and development expenses decreased by $83,000 to $741,000 for the quarter ended June 30, 2025, due to reduced headcount [2]. - Selling, general and administrative expenses remained relatively stable at $3,265,000 for Q2 2025, compared to $3,290,000 in Q2 2024 [2]. Other Income - The company reported net other income of $2,036,000 for the quarter ended June 30, 2025, up from $1,329,000 in the same quarter of 2024, including net realized and unrealized gains on marketable securities of $894,000 compared to $363,000 in Q2 2024 [4]. Year-to-Date Performance - For the nine months ended June 30, 2025, Gencor had net revenue of $96,606,000 and net income of $13,740,000, compared to $92,245,000 and $13,106,000 for the same period in 2024, reflecting a 5% increase in revenue and a 14% increase in operating income [6][8]. Balance Sheet Highlights - As of June 30, 2025, the company had $136.0 million in cash and cash equivalents and marketable securities, an increase from $115.4 million at September 30, 2024 [7]. - Net working capital was $197.1 million at June 30, 2025, compared to $182.2 million at September 30, 2024 [7]. - The company's backlog decreased to $26.2 million at June 30, 2025, from $46.6 million at June 30, 2024 [7].