$GENC

GENCOR INDUSTRIES INC

CIK:0000064472|SEC Filings

Condensed Consolidated Income Statements - USD ($)	3 Months Ended		9 Months Ended
Condensed Consolidated Income Statements - USD ($)	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net revenue	$ 33,805,000	$ 26,986,000	$ 91,180,000	$ 96,606,000
Cost of goods sold	24,371,000	19,843,000	64,284,000	69,442,000
Gross profit	9,434,000	7,143,000	26,896,000	27,164,000
Operating expenses:
Product engineering and development	680,000	741,000	2,067,000	2,099,000
Selling, general and administrative	2,952,000	3,265,000	11,692,000	10,824,000
Total operating expenses	3,632,000	4,006,000	13,759,000	12,923,000
Operating income	5,802,000	3,137,000	13,137,000	14,241,000
Other income (expense), net:
Interest and dividend income, net of fees	1,176,000	1,142,000	3,464,000	3,289,000
Net realized and unrealized gains on marketable securities	241,000	894,000	439,000	1,037,000
Total other income, net	1,417,000	2,036,000	3,903,000	4,326,000
Income before income tax expense	7,219,000	5,173,000	17,040,000	18,567,000
Income tax expense	1,536,000	1,345,000	4,075,000	4,827,000
Net income	$ 5,683,000	$ 3,828,000	$ 12,965,000	$ 13,740,000
Net income per common share - basic	$ 0.39	$ 0.26	$ 0.89	$ 0.94
Net income per common share - diluted	$ 0.39	$ 0.26	$ 0.89	$ 0.94

Condensed Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 12,965,000	$ 13,740,000
Adjustments to reconcile net income to cash provided by operating activities:
Unrealized (gain) loss on marketable securities	264,000	(582,000)
Deferred income taxes	(156,000)	(274,000)
Unrecognized tax benefits	599,000	557,000
Depreciation and amortization	1,553,000	1,782,000
Provision for credit losses	45,000	0
Loss on disposal of fixed asset	6,000	0
Changes in operating assets and liabilities:
Accounts receivable	289,000	(1,177,000)
Contract assets	5,811,000	(2,887,000)
Marketable securities	(28,461,000)	(17,588,000)
Inventories	6,518,000	10,890,000
Prepaid expenses and other current assets	(1,162,000)	1,246,000
Accounts payable	1,765,000	538,000
Contract liabilities	2,825,000	0
Customer deposits	(861,000)	(2,591,000)
Accrued expenses	(631,000)	(311,000)
Total adjustments	(11,596,000)	(10,397,000)
Cash flows provided by operating activities	1,369,000	3,343,000
Cash flows from investing activities:
Capital expenditures	(1,698,000)	(951,000)
Cash flows used in investing activities	(1,698,000)	(951,000)
Net increase in cash and cash equivalents	(329,000)	2,392,000
Cash and cash equivalents at:
Beginning of period	26,587,000	25,482,000
End of period	26,258,000	27,874,000
Supplemental Cash Flow Information
Cash paid for income taxes, net	4,708,000	2,826,000
Non-cash investing and financing activities:
Right-of-use assets obtained in exchange for operating lease liabilities	$ 0	$ 370,000

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Sep. 30, 2025
Current assets:
Cash and cash equivalents	$ 26,258,000	$ 26,587,000
Marketable securities at fair value (cost of $136,069,000 at June 30, 2026 and $107,237,000 at September 30, 2025)	137,911,000	109,714,000
Accounts receivable, less allowance for credit losses of ($438,000 at June 30, 2026 and $434,000 at September 30, 2025)	2,795,000	3,130,000
Contract assets	6,397,000	12,208,000
Inventories, net	46,985,000	53,503,000
Prepaid expenses and other current assets	2,562,000	1,399,000
Total current assets	222,908,000	206,541,000
Property and equipment, net	11,220,000	11,079,000
Deferred income taxes	4,740,000	4,584,000
Other long-term assets	116,000	392,000
Total Assets	238,984,000	222,596,000
Current liabilities:
Accounts payable	3,607,000	1,842,000
Customer deposits	3,028,000	3,889,000
Contract liabilities	2,825,000	0
Accrued expenses	2,110,000	2,741,000
Current operating lease liabilities	63,000	339,000
Total current liabilities	11,633,000	8,811,000
Unrecognized tax benefits	2,582,000	1,983,000
Total liabilities	14,215,000	10,794,000
Commitments and contingencies
Shareholders' equity:
Preferred stock, par value $.10 per share; 300,000 shares authorized; none issued	0	0
Capital in excess of par value	12,590,000	12,590,000
Retained earnings	210,713,000	197,746,000
Total shareholders' equity	224,769,000	211,802,000
Total Liabilities and Shareholders' Equity	238,984,000	222,596,000
Common Stock [Member]
Shareholders' equity:
Common stock	1,234,000	1,234,000
Class B common stock [Member]
Shareholders' equity:
Common stock	$ 232,000	$ 232,000