Gencor Industries, Inc. (GENC)
Gencor Industries, Inc. is a manufacturer of heavy machinery and equipment primarily used in the asphalt production and construction industries. The company specializes in drum mixers, liquid asphalt equipment, and other infrastructure-related machinery, serving roadway construction and maintenance markets globally.
Company News
Gencor Industries reported a 5.6% increase in quarterly net revenue to $26.986 million, with improved gross profit margins of 26.5% and net income of $3.828 million, representing growth from the previous year's quarter.
Gencor Industries reported a 6.1% revenue decline in Q2 FY2025, with backlog dropping 44.8% year-over-year. Despite steady earnings per share at $0.42, the company faces challenges in highway construction equipment market with reduced product development spending.
U.S. stock futures and Asian markets declined as tensions escalated in the Middle East after Israel's preemptive strike against Iran. Crude oil prices jumped 8%, while gold surged above $3,400 per ounce as investors sought safe-haven assets.
RUMIC, Innodata, HF Foods, CSP, Frequency Electronics and Gencor Industries are part of the Zacks Investment Ideas article.