Asphalt equipment maker Gencor Industries' Q3 revenue, net income rise
GENC•Key reported figures
- Q3 revenue: $33.81 million, versus $26.40 million consensus estimate from one analyst
- Q3 basic EPS: $0.39
Q3 revenue and profit rise
Asphalt equipment maker Gencor Industries said its third-quarter revenue and net income rose year over year, driven by higher contract equipment sales.
The company said third-quarter revenue increased as higher contract equipment revenues and related freight revenue drove net revenue growth. Net income also rose as margins improved and selling, general and administrative expenses fell.
Margins improve and backlog reaches record
Gross profit margin rose 140 basis points to 27.9%, while lower professional services costs helped reduce SG&A expenses.
Gencor said its backlog reached $79.2 million, up sharply from $26.2 million a year ago, and cited the record backlog as supporting performance into fiscal 2027.
