Gencor reports FY2023 net income of $14.7M vs loss; backlog up to $57.8M

GENCOR INDUSTRIES INC

FY2023 revenue $105.1M (+1.5% YoY); net income $14.7M ($1.00 EPS) vs net loss $0.4M.
Q4 revenue $20.9M (-9.5% YoY); net income $3.1M vs $0.5M; gross margin 31.7% vs 21.5%.
Backlog at Dec 1, 2023: $57.8M vs $43.2M a year ago, driven by strong demand.
Cash and marketable securities $101.3M; zero debt; working capital $164.8M.
Management cites U.S. infrastructure funding optimism for continued demand.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GENCOR INDUSTRIES INC reported the full year fiscal 2023 results: revenue $105.1 million, net income $14.7 million ($1.00 per basic and diluted share), EPS $1.00 per basic and diluted share.

Period: the full year fiscal 2023
Revenue: $105.1 million
Net income: $14.7 million ($1.00 per basic and diluted share)
EPS: $1.00 per basic and diluted share
Result: reported results

Exact text from the filing

ended September 30, 2023 was $3.1 million compared to $0.5 million for the quarter ended September 30, 2022. Net revenue for the year ended September 30, 2023 increased to $105.1 million from $103.5 million for the year ended September 30, 2022. Gross profit margin was 27.6% in fiscal 2023, an increase from 19.9% in fiscal 2022 due to increased parts sales and

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GENCOR INDUSTRIES INC reported the fourth quarter of fiscal 2023 results: revenue $20.9 million, net income $3.1 million.

Period: the fourth quarter of fiscal 2023
Revenue: $20.9 million
Net income: $3.1 million
Result: reported results

Exact text from the filing

Gencor Industries, Inc. (the “Company” or “Gencor”) (NYSE American: GENC) announced today net revenue for the fourth quarter of 2023 of $20.9 million compared to $23.1 million for the quarter ended September 30, 2022.

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Source: SEC EDGAR

accession 0001193125-23-294339

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