Q3 net income down 20% to $2.56M; revenue falls 8% to $25.6M; backlog hits record $46.6M

GENCOR INDUSTRIES INC

2024-Q3 EPS reported $0.89 revenue$92,245,000

Revenue $25.6M vs $27.9M YoY; gross margin down 300bps to 23.9%.
Net income $2.56M ($0.17 per share) vs $3.21M ($0.22) in prior-year quarter.
Nine-month revenue +9.6% to $92.2M; net income +13.3% to $13.1M ($0.89 vs $0.79).
Backlog $46.6M, 67% above last year's $27.9M; no debt; cash $116.6M.

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