Gencor releases fourth quarter and fiscal year 2023 results

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.
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