Gencor Industries

Gencor Industries, Inc. engages in the designing, manufacturing and sales of heavy machinery and related equipment used in the production of highway construction materials, synthetic fuels and environmental control equipment. Its products include asphalt plants, combustion systems and industrial incinerators, fluid heat transfer systems and asphalt pavers. The company was founded by Emanuel J. Elliott in 1968 and is headquartered in Orlando, FL.

ORLANDO, Fla., Feb. 10, 2023 (GLOBE NEWSWIRE) -- Gencor Industries, Inc. (the “Company” or “Gencor”) (NYSE American: GENC) announced today net revenues increased 28.4% to $25,825,000 for the quarter ended December 31, 2022 compared to $20,106,000 for the quarter ended December 31, 2021, due to higher contract equipment and parts sales. Gross margins were 22.5% for the quarter ended December 31, 2022 compared to 18.4% for the quarter ended December 31, 2021 on increased production and favorable price realization.

Gencor Releases First Quarter Fiscal 2023 Results

ORLANDO, Fla., Dec. 16, 2022 (GLOBE NEWSWIRE) -- Gencor Industries, Inc. (the “Company” or “Gencor”) (NYSE American: GENC) announced today net revenue for the fourth quarter of 2022 increased 15.5% to $23.1 million compared to $20.0 million for the quarter ended September 30, 2021. The increased net revenues reflect increased shipments and progress on large contract orders where revenue is recognized over time. Gross profit as a percentage of net revenue was 21.5% for the quarter ended September 30, 2022, an increase from 17.2% for the quarter ended September 30, 2021. Increased production volumes and pricing more than offset the increases in labor rates, steel and OEM parts prices during the quarter ended September 30, 2022.

Gencor Releases Fourth Quarter and Fiscal Year 2022 Results

Gencor Industries has successfully increased its revenues in the past decade. Profit margins are temporarily depressed due to the complex macroeconomic landscape.

Gencor Industries: Temporary Headwinds Represent An Opportunity

GENC is trading below its Net Working Capital Per Share of $10.49, making this company a Cigar-Butt. This company has properties that are worth at least $20 million according to the property taxes paid in 2021. This translates to $1.37 Per Share.

Gencor Industries: A Cigar Butt Offering A Quick 61% Gain

ORLANDO, Fla., Aug. 12, 2022 (GLOBE NEWSWIRE) -- Gencor Industries, Inc. (the “Company” or “Gencor”) (NYSE American: GENC) announced today net revenues of $29.6 million for the quarter ended June 30, 2022 compared to $24.9 million for the quarter ended June 30, 2021. Gross margins for the quarter ended June 30, 2022 were 19.2% compared with 22.5% for the quarter ended June 30, 2021. Higher manufacturing costs associated with wages, steel, and purchased parts continued to impact the Company's operating results for the quarter ended June 30, 2022.

Gencor Releases Third Quarter Fiscal 2022 Results

ORLANDO, Fla., July 19, 2022 (GLOBE NEWSWIRE) -- Gencor Industries, Inc. (the “Company”) (NASDAQ: GENC) today announced that it is transferring the listing of its common stock, $0.10 per share par value (the “Common Stock”), to the New York Stock Exchange American (“NYSE American”) from the NASDAQ Global Market (“NASDAQ”). The Company expects that listing and trading of its Common Stock on NASDAQ will end at market close on July 29, 2022 and that trading will commence on the NYSE American at the market open on August 1, 2022 under its current ticker symbol ‘GENC'.

Gencor Industries, Inc. Announces Transfer of Common Stock listing to the NYSE American

ORLANDO, Fla., May 13, 2022 (GLOBE NEWSWIRE) -- Gencor Industries, Inc. (Nasdaq: GENC) announced today net revenues of $30.7 million for the quarter ended March 31, 2022 compared to $21.4 million for the quarter ended March 31, 2021. Gross margins for the quarter ended March 31, 2022 were 20.2% compared with 28.8% for the quarter ended March 31, 2021. During the quarter ended March 31, 2022, the Company continued to experience higher manufacturing costs associated with wages, steel and OEM parts pricing.

Gencor Releases Second Quarter Fiscal 2022 Results

ORLANDO, Fla., Feb. 11, 2022 (GLOBE NEWSWIRE) -- Gencor Industries, Inc. (Nasdaq: GENC) (the “Company”) announced today net revenues of $20.1 million for the quarter ended December 31, 2021 compared to $19.0 million for the quarter ended December 31, 2020 due to higher parts revenues. There were no revenues generated by the Blaw-Knox paver product line during the quarter ended December 31, 2020, as the facility was not in production. Gross margins were 18.4% for the quarter ended December 31, 2021 compared to 15.7% for the quarter ended December 31, 2020. Due to the absence of revenues from Blaw-Knox in the quarter ended December 31, 2020, overall gross profit margins were negatively impacted by the unabsorbed manufacturing labor and overhead expenses.

Gencor Releases First Quarter Fiscal 2022 Results

ORLANDO, Fla., Dec. 17, 2021 (GLOBE NEWSWIRE) -- Gencor Industries, Inc., (NASDAQ: GENC) announced today net revenue for the fourth quarter of 2021 increased 91.7% to $20.0 million compared to $10.5 million for the quarter ended September 30, 2020. The increase in net revenues reflected improved orders from prior year in anticipation of a new, broad infrastructure bill to replace the FAST Act, which after two temporary extensions, would have expired on December 3, 2021. On November 15, 2021, President Biden signed into law a five-year, $1.2 trillion infrastructure bill, the Infrastructure Investment and Jobs Act, including $550 billion in new spending and reauthorization of $650 billion in previously allocated funds. This provides $110 billion for the nation's highways, bridges and roads. Gross profit as a percentage of net revenue were 17.2% for the quarter ended September 30, 2021, a decrease from 18.3% for the quarter ended September 30, 2020. Gross profit margins were negatively impacted by unabsorbed manufacturing labor and overhead expenses. In addition, increases in labor rates and steel and OEM parts prices contributed to the lower overall gross margins during the quarter ended September 30, 2021.

Gencor Releases Fourth Quarter and Fiscal Year 2021 Results

ORLANDO, Fla., Aug. 11, 2021 (GLOBE NEWSWIRE) -- Gencor Industries, Inc. (Nasdaq: GENC) announced today net revenues of $24.9 million for the quarter ended June 30, 2021 compared to $22.9 million for the quarter ended June 30, 2020. Gross margins for the quarter ended June 30, 2021 were 22.5% compared with 23.5% for the quarter ended June 30, 2020. During the quarter ended June 30, 2021, the Company continued to experience higher manufacturing costs associated with steel and OEM parts pricing, as well as unabsorbed manufacturing labor and overhead expenses related to the paver line. The negative effect of these higher manufacturing costs on the quarter ended June 30, 2021, was partially offset by improved margins on certain equipment sales recognized over time and increased parts sales, in dollars and as a percentage of total net revenues, at higher margins.

Gencor Releases Third Quarter Fiscal 2021 Results

ORLANDO, Fla., May 14, 2021 (GLOBE NEWSWIRE) -- Gencor Industries, Inc. (Nasdaq: GENC) announced today net revenues of $21.4 million for the quarter ended March 31, 2021 compared to $26.0 million for the quarter ended March 31, 2020. Gross margins for the quarter ended March 31, 2021 were 28.8% compared with 28.2% for the quarter ended March 31, 2020. During the quarter ended March 31, 2021, the Company continued to experience higher manufacturing costs associated with steel and OEM parts pricing, as well as unabsorbed manufacturing labor and overhead expenses related to the paver line. The negative effect of these higher manufacturing costs on the quarter ended March 31, 2021, was offset by improved margins on certain equipment sales recognized over time and increased parts sales, in dollars and as a percentage of total net revenues, at higher margins.

Gencor Releases Second Quarter Fiscal 2021 Results

ORLANDO, Fla., Feb. 12, 2021 (GLOBE NEWSWIRE) -- Gencor Industries, Inc. (Nasdaq: GENC) announced today net revenues of $19.0 million for the quarter ended December 31, 2020 compared to $18.0 million for the quarter ended December 31, 2019.  There were no revenues generated by the Blaw-Knox paver product line during the quarter ended December 31, 2020, as the facility was being readied to begin production. Gross margins were 15.7% for the quarter ended December 31, 2020 compared to 24.0% for the quarter ended December 31, 2019. The gross profit margins for the quarter ended December 31, 2020 were negatively impacted by unabsorbed manufacturing labor and overhead expenses related to the Blaw-Knox paver product line. Excluding these Blaw-Knox expenses, the gross profit margin for the quarter ended December 31, 2020, would have been 23.5%, with increases in steel prices contributing to the lower overall gross margins.

Gencor Releases First Quarter Fiscal 2021 Results

ORLANDO, Fla., Dec. 18, 2020 (GLOBE NEWSWIRE) -- Gencor Industries, Inc., (NASDAQ: GENC) announced today net revenue for the quarter ended September 30, 2020 decreased 27.8% to $10.5 million compared to $14.5 million for the quarter ended September 30, 2019. The decrease in revenues reflects a decline in orders from prior year as the impact of the Fixing America's Surface Transportation Act (the “FAST Act”), which was set to expire at the end of September 2020, has slowed. On the eve of its expiration, a one-year extension to the FAST Act was passed and signed into law. The one-year extension maintains current funding levels under the FAST Act through September 2021. Gross profit as a percentage of net revenue decreased to 18.3% for the quarter ended September 30, 2020 from 19.6% for the quarter ended September 30, 2019. Gross profit in the fourth quarter of fiscal 2020 was negatively impacted due to the lower net revenues and reduced overhead absorption.   

Gencor Releases Fourth Quarter and Fiscal Year 2020 Results

ORLANDO, Fla., Aug.  06, 2020  (GLOBE NEWSWIRE) -- Gencor Industries, Inc. (Nasdaq: GENC) announced today net revenues of $22.9 million for the quarter ended June 30, 2020 compared to $18.8 million for the quarter ended June 30, 2019.  Gross margins were 23.5% for the quarter ended June 30, 2020 compared to 25.2% for the quarter ended June 30, 2019, as the gross profit margins achieved in the current quarter were impacted by a higher percentage of revenues generated from plant and equipment sales compared with parts sales, which have a higher gross margin. Product engineering and development expenses decreased $32,000 to $849,000 for the quarter ended June 30, 2020, on reduced travel expenses. Selling, general and administrative (“SG&A”) expenses increased $51,000 to $2,522,000 for the quarter ended June 30, 2020. Increases in sales headcount resulted in the increased SG&A expenses.  Operating income for the quarter ended June 30, 2020 increased 44.1% to $2.0 million compared with $1.4 million for the quarter ended June 30, 2019, on higher revenues and production volumes.

Gencor Releases Third Quarter Fiscal 2020 Results

ORLANDO, Fla., July  31, 2020  (GLOBE NEWSWIRE) -- Gencor Industries, Inc., (“Gencor”) (NASDAQ:GENC) has announced that it has signed an agreement to acquire the Blaw-Knox paver business and associated assets from Volvo CE.  The Blaw-Knox business, name, and associated assets will transfer to Gencor, including the manufacturing production line currently located at Shippensburg Pennsylvania.

Gencor Industries, Inc. to Acquire Blaw-Knox Paver Business From Volvo CE

Gencor Industries: A Deep Value Stock Poised To Profit From Infrastructure Spending

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