Gencor Industries (GENC) Reports Prelim Results

Gencor Industries, Inc. (the “Company” or “Gencor”) (NYSE American: GENC) previously reported that it needed additional time to complete its audit of the Annual Report on Form 10-K for the year-end September 30, 2024. In connection with this delay, the Company filed a Form 12b-25 with the Securities and Exchange Commission with respect to the Company’s Annual Report on Form 10-K for the year-end September 30, 2024. The Company similarly filed a Form 12b-25 with the Securities and Exchange Commission with respect to its Quarterly Report on Form 10-Q for the period ended December 31, 2024.

Unaudited Preliminary Results:

Set forth below are select unaudited preliminary estimates of operating results and other financial measures as of and for the year ended September 30, 2024 and at the quarter ended December 31, 2024.

The Company anticipates reporting revenue of approximately $113 million for the year ended September 30, 2024, compared to $105.1 million for the year ended September 30, 2023.

At December 31, 2024, the Company had approximately $130 million in cash and marketable securities, compared with approximately $115 million at September 30, 2024, with no short-term or long-term debt.

The Company’s backlog at December 31, 2024 was approximately $51 million.

Results as of and for the year ended September 30, 2024 and at the quarter ended December 31, 2024, are preliminary and are based on estimates which the Company believes are reasonable. The preliminary results for the year ended September 30, 2024 are unaudited by the Company’s independent registered public accounting firm and may be subject to change after the completion of the year-end audit and will not be final until the Company files its audited financial statements in its Annual Report on Form 10-K. The final unaudited financial results reported for the quarter ended December 31, 2024 may also differ from the results reported in this release. Accordingly, undue reliance should not be placed on this preliminary data and this preliminary estimated data should not be considered a substitute for the financial statements to be prepared in accordance with accounting principles generally accepted in the United States and to be filed with the Securities and Exchange Commission once available. The preliminary financial results represent management estimates that constitute forward-looking statements subject to risks and uncertainties.

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