Gencor Industries, Inc. ( (GENC) ) has released its Q4 earnings. Here is a breakdown of the information Gencor Industries, Inc. presented to its investors.
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Gencor Industries, Inc. is a diversified manufacturer specializing in heavy machinery for highway construction materials and environmental control equipment. In its latest earnings report, Gencor announced stable fourth-quarter net revenue of $20.9 million, with a slight decline in gross profit margin compared to the previous year. Despite a 7.7% increase in annual net revenue to $113.2 million, the company’s net income slightly decreased to $14.6 million, reflecting increased SG&A expenses and a higher effective tax rate.
The company’s operating income for the fiscal year rose marginally to $13.7 million, supported by higher interest and dividend income due to increased interest rates. Gencor’s cash and marketable securities grew by $14.1 million, reaching $115.4 million, while maintaining a strong working capital position of $182.2 million. The company’s backlog stood at $56.2 million, indicating steady demand moving into fiscal 2025.
Gencor’s management remains optimistic about the future, citing benefits from infrastructure funding and a strong backlog as key drivers for continued growth. The company aims to focus on market expansion while delivering high-quality products and services to its customers.