Gencor Q2 net income surges to $0.33/diluted from $0.03; gross margins up 960 bps

GENCOR INDUSTRIES INC

2023-Q2 EPS reported $0.57 revenue$56,327,000

Net revenue $30.5M (flat YoY); gross margin 29.8% vs 20.2% on efficiency and pricing.
Operating income $5.2M (up from $1.9M); net income $4.9M ($0.33/diluted) vs $0.4M ($0.03).
Cash and marketable securities $106.3M; no debt; backlog $34.7M (down from $44.9M).
President cites manufacturing optimization and strong ConExpo interest; outlook positive.

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