GENC

EX-99.1

2 d117149dex991.htm

EX-99.1

EX-99.1

Exhibit 99.1

GENCOR RELEASES SECOND QUARTER FISCAL 2026 RESULTS

June 12, 2026 (PRIME NEWSWIRE) - Gencor Industries, Inc. (the “Company” or “Gencor”) (NYSE American: GENC) announced today net revenue for the quarter ended March 31, 2026 was $33,799,000 compared with $38,204,000 net revenue for the quarter ended March 31, 2025. The decrease in net revenue was primarily due to lower contract equipment revenues recognized over time and associated freight revenue, which resulted from the timing of orders and shipments. As a percentage of net revenue, gross profit margins increased 200 basis points to 31.7% in the quarter ended March 31, 2026, compared to 29.7% in the quarter ended March 31, 2025.

Product engineering and development expenses decreased $52,000 to $629,000 for the quarter ended March 31, 2026, as compared to $681,000 for the quarter ended March 31, 2025 primarily due to lower headcount. Selling, general and administrative (“SG&A”) expenses increased $1,651,000 to $5,843,000 for the quarter ended March 31, 2026, compared to $4,192,000 for the quarter ended March 31, 2025 due to increased trade show expenses. In the quarter ended March 31, 2026 Gencor incurred trade show expenses of $3,525,000 compared with $345,000 in the quarter ended March 31, 2025.

Operating income decreased 34.6%, or $2,244,000, from $6,480,000 for the quarter ended March 31, 2025 compared with $4,236,000 for the quarter ended March 31, 2026, due to higher trade show expenses, which increased by $3,180,000 for the quarter ended March 31, 2026, compared to the quarter ended March 31, 2025. Operating margin was 12.5% for the quarter ended March 31, 2026 compared with 17.0% for the quarter ended March 31, 2025.

For the quarter ended March 31, 2026, the Company had net other income of $937,000, compared to $1,756,000 for the quarter ended March 31, 2025. Interest and dividend income, net of fees, was $1,111,000 in the quarter ended March 31, 2026 as compared to $1,158,000 in the quarter ended March 31, 2025. The net realized and unrealized losses on marketable securities were $174,000 for the quarter ended March 31, 2026, compared to net realized and unrealized gains of $598,000 for the quarter ended March 31, 2025. The decline in net realized and unrealized gains was due to higher interest rates on longer duration bonds that caused a decline in value.

The effective income tax rate for both the quarters ended March 31, 2026 and March 31, 2025 was 26% based on the expected annual effective income tax rate. Net income for the quarter ended March 31, 2026 decreased $2,252,000 or 37.0% to $3,843,000, or $0.26 basic and diluted net income per common share, from $6,095,000, or $0.42 basic and diluted net income per common share, for the quarter ended March 31, 2025. The lower net income resulted primarily from the impact of higher trade show expenses, lower net revenues and net non-operating income, partially offset by improved gross margins.

For the six months ended March 31, 2026 the Company had net revenue of $57,376,000 and net income of $7,285,000, or $0.50 per basic and diluted common share, compared to net revenue of $69,620,000 and net income of $9,912,000 or $0.68 per basic and diluted common share for the six months ended March 31, 2025. The decline in net income on earnings per share was largely due to the increased trade show expenses in the quarter ending March 31, 2026.

At March 31, 2026, the Company had $155.1 million of cash and cash equivalents and marketable securities compared to $136.3 million at September 30, 2025. Net working capital was $205.2 million at March 31, 2026 compared to $197.7 million at September 30, 2025. The Company had no short-term or long-term debt outstanding at March 31, 2026.

The Company’s backlog was $60.5 million at March 31, 2026 compared to $27.8 million at March 31, 2025.

Marc Elliott, Gencor’s President and Chairman of the Board, commented, “Gencor’s second quarter revenue decline from the previous year was due to a slow start to the season delaying asphalt plant orders typically sold earlier in the fiscal year. Despite lower revenue, gross profit margins exceeded expectations, reflecting strong manufacturing execution and effective cost management. Our $60.5 million backlog was more than double the prior year as remaining IIJA funding obligations continued to flow to states. With this record backlog entering the third quarter, we are well-positioned for sustainable performance through the remainder of this fiscal year and into fiscal 2027.”

Gencor Industries, Inc. is a diversified heavy machinery manufacturer for the production of highway construction materials and equipment and environmental control machinery and equipment used in a variety of applications.

GENCOR

INDUSTRIES, INC.

Condensed Consolidated Income Statements

(Unaudited)

For the Quarters Ended March 31,

For the Six Months Ended March 31,

2026

2025

2026

2025

Net

8-K

GENCOR INDUSTRIES INC false 0000064472 0000064472 2026-02-06 2026-02-06

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report: February 6, 2026 (Date of earliest event reported)

GENCOR INDUSTRIES, INC.

(Exact name of registrant as specified in its charter)

5201 North Orange Blossom Trail, Orlando, Florida 32810 (Address of principal executive offices) (Zip Code) (407) 290-6000 (Registrant’s telephone number, including area code)

Delaware

001-11703

59-0933147

(State or other jurisdiction of incorporated or organization)

Commission File Number

(I.R.S. Employer Identification No.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered or to be registered pursuant to Section 12(b) of the Act

Title of Each Class

Trading Symbol(s)

Name of Exchange on which registered

Common Stock ($.10 Par Value)

GENC

NYSE American LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition. On February 6, 2026 Gencor Industries, Inc. issued a press release announcing its financial results for the first quarter of fiscal 2026. A copy of the press release is attached as Exhibit 99.1. The information in this Form 8-K and the Exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing. Item 9.01. Financial Statements and Exhibits. (d) Exhibits

99.1

Earnings Release dated February 6, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

GENCOR INDUSTRIES, INC.

February 6, 2026

By:

/s/ Marc G. Elliott

Marc G. Elliott, President and Chairman of the Board

February 6, 2026

By:

/s/ Eric E. Mellen

Eric E. Mellen, Chief Financial Officer

8-K

GENCOR INDUSTRIES INC false 0000064472 0000064472 2025-12-09 2025-12-09

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report: December 9, 2025 (Date of earliest event reported)

GENCOR INDUSTRIES, INC.

(Exact name of registrant as specified in its charter)

5201 North Orange Blossom Trail, Orlando, Florida 32810 (Address of principal executive offices) (Zip Code) (407) 290-6000 (Registrant’s telephone number, including area code)

Delaware

001-11703

59-0933147

(State or other jurisdiction of incorporated or organization)

Commission File Number

(I.R.S. Employer Identification No.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered or to be registered pursuant to Section 12(b) of the Act

Title of Each Class

Trading Symbol(s)

Name of Exchange on which registered

Common Stock ($.10 Par Value)

GENC

NYSE American LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition. On December 9, 2025 Gencor Industries, Inc. issued a press release announcing its financial results for the full year and fourth quarter of fiscal 2025. A copy of the press release is attached as Exhibit 99.1. The information in this Form 8-K and the Exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing. Item 9.01. Financial Statements and Exhibits. (d) Exhibits

99.1

Earnings Release dated December 9, 2025

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

GENCOR INDUSTRIES, INC.

December 9, 2025

By:

/s/ Marc G. Elliott

Marc G. Elliott, President

December 9, 2025

By:

/s/ Eric E. Mellen

Eric E. Mellen, Chief Financial Officer