GENC on NYSE
GENCOR INDUSTRIES INC
American construction machinery and equip company, incorporated in Delaware1
In its 2025 annual report the company says: “The Company designs, manufactures and sells machinery and related equipment used primarily for the production of asphalt and highway construction equipment and materials. The Company believes that its technical and design capabilities and environmentally friendly process technology have enabled it to become a leading producer of hot mix asphalt plants and related components in North America.”5 It is headquartered in Orlando, Florida.1 Its shares trade on NYSE under the symbol GENC.1
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Last updated Oct 21, 2026.
Overview
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- TickerGENC on NYSE1
- IndustryConstruction Machinery & Equip1
- HeadquartersOrlando, Florida1
- Incorporated inDE3
- Business address5201 N Orange Blossom Trail, Orlando, Fl 328103
- Filer categoryAccelerated filer, Smaller reporting company3
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Gencor Industries, Inc. and its subsidiaries (the “Company,” “Gencor,” “we,” “us” or “our”) is a leading manufacturer of heavy machinery used in the production of highway construction equipment and materials and environmental control equipment. The Company’s products are manufactured in the United States and sold through a combination of Company sales representatives and independent dealers and agents.5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Parts and Component Sales brought in 80% of the revenue GENCOR INDUSTRIES INC broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Parts and Component Sales | $26.5M | $27.0M |
| Freight Revenue | $5.2M | $5.6M |
| Other Revenues | $954.0K | $1.1M |
Regions
Americas brought in 89% of the revenue GENCOR INDUSTRIES INC broke down this way in fiscal 2025.
Regions by year
| Regions | 2024 | 2025 |
|---|---|---|
| Americas | $97.6M | $103.1M |
| CAMember | $12.6M | $12.2M |
| Other Foreign Countries | $2.9M | $170.0K |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue69¢$83.7M
- Research and development2¢$2.8M
- Selling, general and admin12¢$14.9M
- Income tax4¢$4.5M
- Profit13¢$15.7M
Out of $115.4M in revenue.2
Where each dollar of operating cash went, fiscal 2025
- Kept or used elsewhere100¢$3.1M
Out of $3.1M of cash from operations.2
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.2
| Period ending | 2025-09-30 | 2024-09-30 |
|---|---|---|
| Net revenue | $115.4M | $113.2M |
| Cost of goods sold | $83.7M | $81.8M |
| Gross profit | $31.7M | $31.3M |
| Product engineering and development | $2.8M | $3.3M |
| Selling, general and administrative | $14.9M | $14.3M |
| Total operating expenses | $17.7M | $17.6M |
| Operating income | $14.0M | $13.7M |
| Interest and dividend income, net of fees | $4.4M | $3.4M |
| Realized and unrealized gains (losses) on marketable securities, net | $1.8M | $3.6M |
| Other | $8.0K | -$13.0K |
| Total other income (expense), net | $6.2M | $7.0M |
| Income before income tax expense | $20.2M | $20.7M |
| Income tax expense | $4.5M | $6.2M |
| Net income | $15.7M | $14.6M |
| Net income per common share - basic | $1.07 | $0.99 |
| Net income per common share - diluted | $1.07 | $0.99 |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.2
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 |
|---|---|---|---|
| Cash and cash equivalents | $26.6M | $25.5M | |
| Marketable securities at fair value (cost of $107,237,000 at September 30, 2025 and $88,777,000 at September 30, 2024) | $109.7M | $89.9M | |
| Accounts receivable, less allowance for credit losses of $434,000 at September 30, 2025 and $390,000 at September 30, 2024 | $3.1M | $2.0M | |
| Contract assets | $12.2M | $9.3M | |
| Inventories, net | $53.5M | $63.8M | |
| Prepaid expenses | $1.4M | $2.4M | |
| Total current assets | $206.5M | $192.8M | |
| Property and equipment, net | $11.1M | $11.5M | |
| Deferred income taxes | $4.6M | $3.4M | |
| Other long-term assets | $392.0K | $383.0K | |
| Total Assets | $222.6M | $208.1M | |
| Accounts payable | $1.8M | $2.0M | |
| Customer deposits | $3.9M | $5.0M | |
| Accrued expenses | $2.7M | $3.3M | |
| Current operating lease liabilities | $339.0K | $330.0K | |
| Total current liabilities | $8.8M | $10.6M | |
| Unrecognized tax benefits | $2.0M | $1.4M | $176.0K |
| Total liabilities | $10.8M | $12.0M | |
| Preferred stock, par value $.10 per share; 300,000 shares authorized; none issued | $0 | $0 | |
| Capital in excess of par value | $12.6M | $12.6M | |
| Retained earnings | $197.7M | $182.1M | |
| Total shareholders' equity | $211.8M | $196.1M | $181.6M |
| Total Liabilities and Shareholders' Equity | $222.6M | $208.1M | |
| Marketable securities, cost | $107.2M | $88.8M | |
| Accounts receivable, allowance for doubtful accounts | $434.0K | $390.0K | $545.0K |
| Preferred stock, par value | $0.10 | $0.10 | |
| Preferred stock, shares authorized | 300.0K shares | 300.0K shares | |
| Preferred stock, shares issued | 0 shares | 0 shares |
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 |
|---|---|---|---|
| Cash and cash equivalents | $26.6M | $25.5M | |
| Marketable securities at fair value (cost of $107,237,000 at September 30, 2025 and $88,777,000 at September 30, 2024) | $109.7M | $89.9M | |
| Accounts receivable, less allowance for credit losses of $434,000 at September 30, 2025 and $390,000 at September 30, 2024 | $3.1M | $2.0M | |
| Contract assets | $12.2M | $9.3M | |
| Inventories, net | $53.5M | $63.8M | |
| Prepaid expenses | $1.4M | $2.4M | |
| Total current assets | $206.5M | $192.8M | |
| Property and equipment, net | $11.1M | $11.5M | |
| Deferred income taxes | $4.6M | $3.4M | |
| Other long-term assets | $392.0K | $383.0K | |
| Total Assets | $222.6M | $208.1M | |
| Accounts payable | $1.8M | $2.0M | |
| Customer deposits | $3.9M | $5.0M | |
| Accrued expenses | $2.7M | $3.3M | |
| Current operating lease liabilities | $339.0K | $330.0K | |
| Total current liabilities | $8.8M | $10.6M | |
| Unrecognized tax benefits | $2.0M | $1.4M | $176.0K |
| Total liabilities | $10.8M | $12.0M | |
| Preferred stock, par value $.10 per share; 300,000 shares authorized; none issued | $0 | $0 | |
| Capital in excess of par value | $12.6M | $12.6M | |
| Retained earnings | $197.7M | $182.1M | |
| Total shareholders' equity | $211.8M | $196.1M | $181.6M |
| Total Liabilities and Shareholders' Equity | $222.6M | $208.1M | |
| Marketable securities, cost | $107.2M | $88.8M | |
| Accounts receivable, allowance for doubtful accounts | $434.0K | $390.0K | $545.0K |
| Preferred stock, par value | $0.10 | $0.10 | |
| Preferred stock, shares authorized | 300.0K shares | 300.0K shares | |
| Preferred stock, shares issued | 0 shares | 0 shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.2
| Period ending | 2025-09-30 | 2024-09-30 |
|---|---|---|
| Net income | $15.7M | $14.6M |
| Unrealized gain on marketable securities | -$1.3M | -$2.4M |
| Deferred income taxes | -$1.2M | -$81.0K |
| Unrecognized tax benefits | $607.0K | $1.2M |
| Depreciation and amortization | $2.4M | $2.6M |
| Provision for credit losses | $50.0K | $0 |
| Loss on disposal of assets | $0 | $12.0K |
| Accounts receivable | -$1.2M | $487.0K |
| Contract assets | -$2.9M | -$7.8M |
| Marketable securities | -$18.5M | -$3.3M |
| Inventories | $10.3M | $7.8M |
| Prepaid expenses | $953.0K | -$183.0K |
| Accounts payable | -$159.0K | -$1.3M |
| Customer deposits | -$1.1M | -$1.8M |
| Accrued expenses and other | -$514.0K | -$498.0K |
| Total adjustments | -$12.6M | -$5.3M |
| Net cash provided by operating activities | $3.1M | $9.3M |
| Capital expenditures | -$2.0M | -$840.0K |
| Cash used in investing activities | -$2.0M | -$840.0K |
| Net increase in cash and cash equivalents | $1.1M | $8.5M |
| Right-of-use assets obtained in exchange for operating lease liabilities | $370.0K | $361.0K |
No quarter-by-quarter statement was filed.
Corporate structure
GENCOR INDUSTRIES INC sits at the top of its group. 7 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of GENCOR INDUSTRIES INC
- E.J. Elliott Family Limited Partnership Filed SCHEDULE 13D on GENCOR INDUSTRIES INC, latest May 8, 2026
- SYSTEMATIC FINANCIAL MANAGEMENT LP Filed SCHEDULE 13G on GENCOR INDUSTRIES INC, latest Feb 10, 2026 (6 filings since Feb 10, 2022)
- ROYCE & ASSOCIATES LP Filed SCHEDULE 13G/A on GENCOR INDUSTRIES INC, latest Oct 14, 2025 (5 filings since Jan 21, 2022)
- GAMCO Investors Filed SC 13D/A on GENCOR INDUSTRIES INC, latest Nov 12, 2024
- DIMENSIONAL FUND ADVISORS LP Filed SC 13G/A on GENCOR INDUSTRIES INC, latest Feb 9, 2024 (3 filings since Feb 8, 2022)
- VANGUARD GROUP INC Filed SC 13G/A on GENCOR INDUSTRIES INC, latest Feb 10, 2022
- GENCOR INDUSTRIES INC Orlando, Florida
- Bituma Corporation Subsidiary · Washington, United States
- Bituma-Stor, Inc. Subsidiary · Iowa, United States
- Blaw-Knox Corporation Subsidiary · Florida, United States
- Equipment Services Group, Inc. Subsidiary · Florida, United States
- Gencor Energy Corp. Subsidiary · Florida, United States
- General Combustion Corporation Subsidiary · Florida, United States
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What GENCOR INDUSTRIES INC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $47.4M2 Sep 30, 2025 | $45.6M2 Sep 30, 2024 | +3.9% |
| Accumulated depreciation | $36.3M2 Sep 30, 2025 | $34.2M2 Sep 30, 2024 | +6.3% |
| Property and equipment, net | $11.1M2 Sep 30, 2025 | $11.5M2 Sep 30, 2024 | −3.4% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $26.6M2 Sep 30, 2025 | $25.5M2 Sep 30, 2024 | +4.3% |
| Marketable securities, current | $109.7M2 Sep 30, 2025 | $89.9M2 Sep 30, 2024 | +22.0% |
Inventory
| Item | Latest | A year before | Change |
|---|---|---|---|
| Inventory, total | $53.5M2 Sep 30, 2025 | $63.8M2 Sep 30, 2024 | −16.1% |
| Raw materials | $28.0M2 Sep 30, 2025 | $32.6M2 Sep 30, 2024 | −14.2% |
| Work in process | $11.7M2 Sep 30, 2025 | $18.7M2 Sep 30, 2024 | −37.4% |
| Finished goods | $13.8M2 Sep 30, 2025 | $12.4M2 Sep 30, 2024 | +11.1% |
Properties, in its own words
The following table lists the operating properties owned or leased by the Company as of September 30, 2025:
Location · Acreage · BuildingSquareFootage · Principal Function
The rest of Item 2
Marquette, Iowa · 72.0 · 137,000 · Owned offices and manufacturing
Orlando, Florida · 27.0 · 215,000 · Owned corporate offices and manufacturing
Chambersburg, Pennsylvania · 7.4 · 103,000 · Leased offices and manufacturing
Item 2 of the 10-K filed Dec 9, 2025.5
Leadership
Who has led GENCOR INDUSTRIES INC, and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
- Chief executive officerJohn E. Elliott Oct 3, 2016 to Oct 3, 201615
- Chief executive officerE. J. Elliott Jul 6, 2011 to May 31, 201216
- ChairMarc G. Elliott May 5, 2026 to now17
- ChairE. J. Elliott Oct 4, 2006 to Dec 27, 201718
- PresidentMarc G. Elliott Jul 6, 2011 to now19
- PresidentE. J. Elliott Oct 4, 2006 to Oct 4, 200618
- Chief financial officerEric E. Mellen May 30, 2012 to Dec 22, 202220
- Chief financial officerLawrence C. Maingot Apr 20, 2011 to Apr 20, 201121
- Chief financial officerRobert A. Mifflin Apr 20, 2011 to Apr 20, 201122
- Chief financial officerMichael Al Mundy Apr 21, 2011 to Apr 21, 201123
- Chief financial officerLowell Raymond Adams Jun 16, 2011 to Jun 16, 201124
- Chief financial officerScott W. Runkel Mar 17, 2006 to Mar 27, 200825
Board members and other officers (17)
- Vice President and ControllerLawrence C. Maingot May 29, 2012 to Jun 14, 201726
- Vice President Product SupportLawrence K. Miles May 30, 2012 to May 30, 201227
- Senior Vice PresidentDennis Bryan Hunt Jan 26, 2009 to Dec 12, 201628
- Sr. VP, TechnologyDavid F. Brashears Feb 24, 2006 to Sep 7, 200729
- executive vice presidentJohn E. Elliott Mar 21, 2006 to Oct 4, 200630
- secretaryJeanne M. Lyons Apr 12, 2006 to Sep 1, 202331
- Pres., Const. Equip. GroupMarc G. Elliott Oct 4, 2006 to Oct 4, 200632
- Board memberWalter A. Ketcham Jr. Feb 2, 2022 to Feb 2, 202233
- Board memberThomas A. Vecchiolla Oct 1, 2021 to Oct 1, 202134
- Board memberJohn G. Coburn Nov 5, 2019 to Nov 5, 201935
- Board memberJames P. Sharp Apr 21, 2011 to Mar 8, 202136
- Board memberMarc G. Elliott Jul 6, 2011 to Feb 13, 202419
- Board memberEdward A. Moses Jan 23, 2009 to Jan 23, 200937
- Board memberCort J. Dondero Jan 27, 2009 to Sep 18, 201738
- Board memberJohn E. Elliott Mar 21, 2006 to Oct 4, 200630
- Board memberDavid Air Oct 4, 2006 to Sep 18, 201739
- Board memberRussell Lee Oct 5, 2006 to Oct 5, 200640
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- Bituma Corporation Washington4
- Bituma-Stor, Inc. Iowa4
- Blaw-Knox Corporation Florida4
- Equipment Services Group, Inc. Florida4
- Gencor Energy Corp. Florida4
- General Combustion Corporation Florida4
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Jun 17, 20268-K Listing notice or transfer41
- Jun 15, 20268-K Results of operations42
- Jun 4, 20268-K Executive or director change43
- Jun 1, 20268-K Listing notice or transfer; Regulation FD disclosure44
- May 20, 20268-K Executive or director change45
- May 7, 20268-K Change in control46
- Apr 6, 20268-K Shareholder vote47
- Feb 6, 20268-K Results of operations48
- Jan 28, 20268-K Change of auditor49
- Jan 23, 20268-K Director nominations; Other events50
- Dec 23, 20258-K Executive or director change51
- Dec 9, 20258-K Results of operations52
- Oct 3, 2016New chief executive John E. Elliott becomes CEO15
- Jul 6, 2011New chief executive E. J. Elliott becomes CEO16
Calendar
Coming up
- Dec 8, 2026Reports results for the quarter ending Sep/202653
When it reported results
- Jun 15, 2026Reported quarterly or annual results42
- Feb 6, 2026Reported quarterly or annual results48
- Dec 9, 2025Reported quarterly or annual results52
- Aug 8, 2025Reported quarterly or annual results54
- Jul 25, 2025Reported quarterly or annual results55
- Jul 25, 2025Reported quarterly or annual results56
- Jun 27, 2025Reported quarterly or annual results57
- Apr 3, 2025Reported quarterly or annual results58
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
112 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 44 major events, 11 insider forms, 17 large holders, 20 other. The latest 20:
- Aug 10, 202610-Q EDGAR
- Jun 18, 20263 PRIMARY DOCUMENT EDGAR
- Jun 17, 20268-K EDGAR
- Jun 15, 20268-K EDGAR
- Jun 12, 202610-Q EDGAR
- Jun 4, 20268-K EDGAR
- Jun 1, 20268-K EDGAR
- May 28, 2026SD EDGAR
- May 20, 20268-K EDGAR
- May 12, 2026NT 10-Q EDGAR
- May 11, 20263 PRIMARY DOCUMENT EDGAR
- May 8, 20264/A PRIMARY DOCUMENT EDGAR
- May 8, 2026SCHEDULE 13D EDGAR
- May 7, 20268-K EDGAR
- May 5, 20264 PRIMARY DOCUMENT EDGAR
- Apr 6, 20268-K EDGAR
- Mar 3, 2026ARS EDGAR
- Feb 10, 2026SCHEDULE 13G EDGAR
- Feb 6, 202610-Q EDGAR
- Feb 6, 20268-K EDGAR
The 112 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
5 open-market trades by officers, directors and large owners since October 2021: 0 buys and 5 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Feb 12, 2024 | ELLIOTT MARC GPresident and Chairman | Sale | 20,000 | $16.48 | $329.6K | Form 4 |
| Aug 30, 2023 | LYONS JEANNE MSecretary | Sale | 1,000 | $14.40 | $14.4K | Form 4 |
| Aug 24, 2023 | LYONS JEANNE MSecretary | Sale | 500 | $14.00 | $7.0K | Form 4 |
| Jun 7, 2023 | LYONS JEANNE MSecretary | Sale | 1,000 | $14.25 | $14.2K | Form 4 |
| Jun 5, 2023 | LYONS JEANNE MSecretary | Sale | 1,000 | $14.50 | $14.5K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- E.J. Elliott Family Limited PartnershipSCHEDULE 13D, 1 filing May 8, 202659
- SYSTEMATIC FINANCIAL MANAGEMENT LPSCHEDULE 13G, 6 filings Feb 10, 2022 to Feb 10, 202660
- ROYCE & ASSOCIATES LPSCHEDULE 13G/A, 5 filings Jan 21, 2022 to Oct 14, 202561
- GAMCO InvestorsSC 13D/A, 1 filing Nov 12, 202462
- DIMENSIONAL FUND ADVISORS LPSC 13G/A, 3 filings Feb 8, 2022 to Feb 9, 202463
- VANGUARD GROUP INCSC 13G/A, 1 filing Feb 10, 202264
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Marc Elliott | 60 | $950.0K | $957.8K65 |
| 2025 | EJ Elliott | $600.0K | $607.0K65 | |
| 2025 | Dennis Hunt | 69 | $500.0K | $508.4K65 |
| 2025 | Eric Mellen | 57 | $350.0K | $357.4K65 |
| 2024 | (President and Chairman of the Board) | $950.0K | $959.3K65 | |
| 2024 | (Former Executive Chairman) | $600.0K | $607.0K65 | |
| 2024 | (SVP Sales and Marketing) | $500.0K | $508.8K65 | |
| 2024 | (Chief Financial Officer & Treasurer) | $350.0K | $358.1K65 | |
| 2023 | (President and Chairman of the Board) | $950.0K | $959.3K65 | |
| 2023 | (Former Executive Chairman) | $600.0K | $607.0K65 | |
| 2023 | (SVP Sales and Marketing) | $500.0K | $509.8K65 | |
| 2023 | (Chief Financial Officer & Treasurer) | $350.0K | $358.6K65 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 92. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How GENCOR INDUSTRIES INC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARGENCOR INDUSTRIES INC1
- CIK0000064472
- Employer ID (EIN)59-09331475
- Filer statusAccelerated filer not an emerging growth company; a smaller reporting company; not a shell company5
- Incorporated inDelaware5
- Fiscal year endsSeptember 301
- Industry code (SIC)3531 Construction Machinery & Equip1
- SEC reviewing officeOffice of Technology, Division of Corporation Finance1
- Business address5201 N Orange Blossom Trail, Orlando, FL 328101
- Mailing address5201 N Orange Blossom, Orlando, FL 328101
- Phone40729060001
- Shares outstanding12,338,845 Common Class Undefined shares; 2,318,857 Common Class B shares as of Dec 5, 20255
- Public float$124.1M as of Sep 30, 20255
- AuditorBerkowitz Pollack Brant Advisors + CPAs, West Palm Beach, Florida PCAOB ID 52; it also attests to the company’s internal control over financial reporting5
- On EDGAR sinceMay 15, 19951
- Filings875 in all: 4 (314), 8-K (172), 10-Q (89), 4/A (35), SC 13D/A (34), DEF 14A (29), SC 13G/A (28), 10-K (26)1
All 43 form types
3 (19), SC 13G (19), CORRESP (15), UPLOAD (15), SD (13), SC 13D (8), ARS (7), 10-K405 (4), DEFR14A (4), NT 10-Q (4), 10-K/A (3), 8-A12B (3), 8-K/A (3), DEFA14A (2), DEFC14A (2), PRE 14A (2), PREC14A (2), PRRN14A (2), S-8 (2), SC TO-I/A (2), SCHEDULE 13G (2), SCHEDULE 13G/A (2), 10-K405/A (1), 10-Q/A (1), 25 (1), 3/A (1), CERT (1), CERTNAS (1), DEFN14A (1), NT 10-K (1), RW (1), S-3 (1), S-8 POS (1), SC TO-I (1), SCHEDULE 13D (1)
- Latest filingsAnnual report (10-K) Dec 9, 2025
Quarterly report (10-Q) Aug 10, 2026
Proxy statement (DEF 14A) Jan 28, 2026
Latest 8-K (8-K) Jun 17, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock | GENC | NYSE American LLC |
From the cover page of the 10-K filed Dec 9, 2025 (Section 12(b) of the Exchange Act).5
Risk factors and legal proceedings
The risks GENCOR INDUSTRIES INC names in Item 1A of its 10-K filed Dec 9, 2025: 27 risks under these headings, as written.5
- The Company has identified material weaknesses in its internal control over financial reporting, which could, if not remediated, adversely affect its ability to report its financial condition and results of operations in a timely and accurate manner. If the Company fails to comply with requirements relating to internal control over financial reporting under Section 404 of the Sarbanes-Oxley Act, the business could be harmed and its stock price could decline.
- The business is affected by the cyclical nature of the markets it serves.
- The business is affected by the level of government funding for highway construction in the United States and Canada.
- The loss of any relationship with a large customer, or a significant downturn in the business or financial condition of any such customer, could have adverse consequences on the Company’s future business.
- The Company may be required to reduce its profit margins on contracts where revenues are recognized over time.
- The Company may encounter difficulties with acquisitions.
- The Company’s marketable securities are comprised of cash and money funds, corporate bonds, exchange-traded funds, mutual funds, equities and government securities invested through a professional investment management firm and are subject to various risks, such as interest rates, markets, and credit.
- There are and will continue to be quarterly fluctuations of the Company’s operating results.
- If the Company is unable to attract and retain key personnel, its business could be adversely affected.
- The Company may be required to defend its intellectual property against infringement or against infringement claims of others.
- The Company may be subject to substantial liability for its products.
- The Company is dependent upon third-party suppliers, making it vulnerable to supply shortages and price increases.
The other 15 risks
- The business is affected by the prices of liquid asphalt and oil.
- The Company is subject to government regulations.
- As tariffs are implemented, or if additional or increased tariffs or other restrictions are placed on foreign imports or any related counter-measures are taken by other countries, our business, financial condition, results of operations and cash flow could be harmed.
- The Company’s management has effective voting control.
- The issuance of preferred stock may impede a change of control or may be dilutive to existing shareholders.
- The Company may be required to indemnify its directors and executive officers.
- The Company does not expect to pay cash dividends for the foreseeable future.
- Competition could reduce revenue from the Company’s products and services and cause it to lose market share.
- The Company’s quarterly operating results are likely to fluctuate, which may decrease its stock price.
- The Company’s common stock has been, and likely will continue to be, subject to substantial price and volume fluctuations due to a number of factors, many of which will be beyond the Company’s control.
- Global, market and economic conditions may negatively impact our business, financial condition and share price.
- The Company may suffer adverse consequences if it is deemed an investment company under the Investment Company Act of 1940, as amended (the “Investment Company Act”).
- The Company faces risks with any future acquisitions.
- There can be a shortage of skilled production workers, especially those with welding and/or fabricating capabilities. The Company could experience difficulty hiring or replacing those individuals, which could adversely affect its business.
- Risks generally associated with our information systems or cybersecurity attacks on our systems could adversely affect the results of our business operations.
Legal proceedings
The Company has various litigation and claims, either as a plaintiff or defendant, pending as of the date of this Annual Report, which have occurred in the ordinary course of business, and which may be covered in whole, or in part, by insurance. Management has reviewed all litigation matters arising in the ordinary course of business and, upon advice of legal counsel, has made provisions, not deemed material, for any probable losses and expenses of litigation.
The opening of Item 3, Legal Proceedings.5
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 17SEC EDGARMarc G. Elliott, Chair
- 18SEC EDGARE. J. Elliott, Chair
- 19SEC EDGARMarc G. Elliott, President
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- 31SEC EDGARJeanne M. Lyons, secretary
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- 33SEC EDGARWalter A. Ketcham Jr., Board member
- 34SEC EDGARThomas A. Vecchiolla, Board member
- 35SEC EDGARJohn G. Coburn, Board member
- 36SEC EDGARJames P. Sharp, Board member
- 37SEC EDGAREdward A. Moses, Board member
- 38SEC EDGARCort J. Dondero, Board member
- 39SEC EDGARDavid Air, Board member
- 40SEC EDGARRussell Lee, Board member
- 41SEC EDGARListing notice or transfer
- 42SEC EDGARResults of operations
- 43SEC EDGARExecutive or director change
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- 45SEC EDGARExecutive or director change
- 46SEC EDGARChange in control
- 47SEC EDGARShareholder vote
- 48SEC EDGARResults of operations
- 49SEC EDGARChange of auditor
- 50SEC EDGARDirector nominations; Other events
- 51SEC EDGARExecutive or director change
- 52SEC EDGARResults of operations
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