Gencor Q3 net loss $1.0M ($0.07/share) on investment losses; revenue up 19% to $29.6M

GENCOR INDUSTRIES INC

2022-Q3 EPS reported -$0.06 revenue$80,407,000

Revenue $29.6M, up 19% YoY; gross margin fell to 19.2% from 22.5% on higher steel and labor costs.
Operating income improved to $2.2M from $1.2M, but net loss of $1.0M due to $3.7M unrealized losses on marketable securities.
Nine-month net loss $0.9M ($0.06/diluted share) vs net income $6.2M ($0.42) in prior year period.
Backlog grew to $40.2M from $28.5M; cash and securities $110.6M, no debt.
President cites strong demand and infrastructure bill optimism, but ongoing supply chain challenges.

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