Gencor Q3 FY2023 net income $3.2M vs prior-year loss; gross margin improves to 26.9%

GENCOR INDUSTRIES INC

2023-Q3 EPS reported $0.79 revenue$84,204,000

Net income $3.212M ($0.22 EPS) vs net loss $(1.015M) ($0.07 loss) in Q3 2022.
Revenue $27.877M declined 6% vs $29.647M; gross margin rose to 26.9% from 19.2%.
Backlog $27.9M at June 30, 2023, down from $40.2M a year earlier.
No debt; cash and marketable securities $94.6M at quarter-end.
President cites improved materials environment and infrastructure spending as positive trends.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GENCOR INDUSTRIES INC reported third quarter of fiscal 2023 results: revenue $27,877,000, net income $3,212,000, EPS $0.22 per basic and diluted share.

Period: third quarter of fiscal 2023
Revenue: $27,877,000
Net income: $3,212,000
EPS: $0.22 per basic and diluted share
Result: reported results

Exact text from the filing

THIRD QUARTER FISCAL 2023 RESULTS August 9, 2023 (PRIME NEWSWIRE)—Gencor Industries, Inc. (the “Company” or “Gencor”) (NYSE American: GENC) announced today net revenues of $27,877,000 for the quarter ended June 30, 2023 compared to $29,647,000 for the quarter ended June 30, 2022. Gross margins for the quarter ended June 30, 2023 were 26.9% compared with 19.2%

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Source: SEC EDGAR

accession 0001193125-23-207345

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