Gencor Releases Fourth Quarter and Fiscal Year 2023 Results

December 14, 2023

https://www.globenewswire.com/news-release/2023/12/13/2795865/10148/en/Gencor-Releases-Fourth-Quarter-and-Fiscal-Year-2023-Results.html

ORLANDO, Fla., Dec. 13, 2023 (GLOBE NEWSWIRE) — 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. The change in net revenue reflects reduced shipments on point-in-time contract orders due to timing of customer shipments. Gross profit as a percentage of net revenue was 31.7% for the quarter ended September 30, 2023, an increase from 21.5% for the quarter ended September 30, 2022, due to increased parts sales at higher margins, improved efficiency, absorption, and favorable price realization.

Read more at globenewswire.com

Related news for (GENC)

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.