The sharp YoY decline in revenue and earnings, despite a record backlog, suggests timing of orders and elevated trade show costs are pressuring near-term profitability. Monitor Q3 FY2026 for conversion of the $60.5M backlog into revenue and normalization of SG&A; a third consecutive decline would confirm structural headwinds.
Price Chart
Executive Summary
Gencor Industries reported Q2 FY2026 revenue of $33.8M (down 11.5% YoY) and EPS of $0.26 (down 38% YoY), missing on prior-year comparisons despite beating consensus estimates. Operating income fell 34.6% due to a $3.2M spike in trade show expenses, while backlog more than doubled to $60.5M. The second consecutive quarterly revenue decline reinforces a bearish trend, partially offset by strong backlog growth.
Key Financial Metrics
Key Facts
- Q2 FY2026 revenue $33.8M vs $38.2M YoY (-11.5%)
- EPS $0.26 vs $0.42 YoY (-38%)
- Operating income $4.2M vs $6.5M YoY (-34.6%)
- Trade show expenses surged to $3.525M from $345K YoY
- Backlog $60.5M vs $27.8M YoY (+118%)
- No debt; cash & marketable securities $155.1M
Financial Impact
Revenue decline of $4.4M YoY and net income decline of $2.25M (37%) in the quarter
Risk Factors
- Continued revenue decline if infrastructure spending uncertainty persists
- Elevated trade show expenses may not normalize quickly
- Customer delays in capital equipment purchases
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-271068 |
| Document: d117149d8k.htm | 0001193125-26-271068 |
| Document: 0001193125-26-271068-index-headers.html | 0001193125-26-271068 |
| Document: 0001193125-26-271068-index.html | 0001193125-26-271068 |
| Document: 0001193125-26-271068.txt | 0001193125-26-271068 |
| 8-K Data (Synthetic) | 0001193125-26-271068 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 10, 2026 11w ago | Press Release | $17.30 $19.24 | ▲ +11.21% | ▲ +11.62% | $17.20 (−0.58%) |
Jun 15, 2026 19w ago | 8-K | $14.77 $14.89 | ▼ −0.81% | ▼ −3.04% | $17.20 (−16.45%) |
Jun 12, 2026 19w ago | Press Release | $14.81 $14.89 | ▲ +0.54% | ▲ +1.92% | $17.20 (+16.14%) |
Jun 1, 2026 21w ago | Press Release | $15.07 $15.01 | ▲ +0.40% | ▼ −2.57% | $17.20 (−14.13%) |
May 20, 2026 22w ago | 8-K | $14.52 $14.18 | ▼ −2.34% | ▼ −3.58% | $17.20 (+18.46%) |
May 12, 2026 23w ago | Press Release | $14.61 $14.49 | ▲ +0.82% | ▼ −0.34% | $17.20 (−17.73%) |
May 8, 2026 24w ago | Press Release | $15.42 $14.68 | ▼ −4.80% | ▼ −6.26% | $17.20 (+11.54%) |
US Market Status
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