Gencor Industries, Inc. (GENC): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde dynamique des technologies de traitement et de construction industrielles, Gencor Industries, Inc. (Genc) apparaît comme une centrale d'innovation, se positionnant stratégiquement à l'intersection de l'ingénierie avancée et du développement des infrastructures. Avec une toile de modèle commerciale robuste qui couvre la fabrication d'équipements de pointe, des solutions technologiques spécialisées et un support client complet, Gencor transforme les défis de construction complexes en processus rationalisés et efficaces. Leur approche unique combine la conception propriétaire, les partenariats stratégiques et l'expertise approfondie de l'industrie pour fournir des machines hautes performances qui animent des projets d'infrastructure dans plusieurs secteurs, ce qui en fait un acteur essentiel dans le paysage de l'équipement industriel.

Gencor Industries, Inc. (GENC) - Modèle d'entreprise: partenariats clés

Relations stratégiques avec les fabricants d'équipements de construction et d'exploitation minière

En 2024, Gencor Industries maintient des partenariats critiques avec les fabricants d'équipements suivants:

Fabricant	Focus de partenariat	Année établie
Groupe Wirtgen	Équipement de construction de routes	2015
Équipement de construction Volvo	Intégration lourde des machines	2017
Caterpillar Inc.	Technologies de traitement globales	2012

Fournisseurs de technologies spécialisées sur l'asphalte et les agrégats

Les partenariats des fournisseurs de technologie de Gencor comprennent:

• ASTEC Industries - Fournir des technologies avancées d'usine d'asphalte
• Systèmes de liant CMC - équipement de manutention spécialisé
• Parker Hannifin Corporation - Composants du système hydraulique

Entreprises d'ingénierie et entrepreneurs en construction

Partenariats clés de l'ingénierie et des entrepreneurs à partir de 2024:

Partenaire	Type de collaboration	Valeur du contrat annuel
Jacobs Engineering Group	Conception du projet d'infrastructure	3,2 millions de dollars
Aecom	Conseil de construction de routes municipales	2,7 millions de dollars
Fluor Corporation	Projets d'infrastructure à grande échelle	4,5 millions de dollars

Distributeurs d'équipement à travers l'Amérique du Nord

Le réseau de distribution de Gencor comprend:

• Holt de Californie - Distributeur de la côte ouest primaire
• Romco Equipment Company - Texas et Southwest Region
• Milton Cat - Couverture des États-Unis du nord-est
• Brandt Tractor Ltd. - Partenaire de distribution canadien

Impact total des revenus de la société de personnes en 2024: 18,4 millions de dollars

Gencor Industries, Inc. (GENC) - Modèle d'entreprise: activités clés

Conception et fabrication d'équipements de production d'asphalte

Gencor Industries se concentre sur la fabrication d'équipements de production d'asphaltes spécialisés avec les spécifications clés suivantes:

Type d'équipement	Capacité de production annuelle	Prix ​​unitaire moyen
Plantes de mélange d'asphalte	45 à 50 unités par an	750 000 $ - 1 200 000 $ par unité
Plantes d'asphalte mobiles	25-30 unités par an	500 000 $ - 850 000 $ par unité

Développement de machines de traitement industriel

Les principales domaines de développement des machines de traitement industriel comprennent:

• Équipement de transformation thermique
• Systèmes de manutention des matériaux
• Composants spécialisés de machines industrielles

Recherche et développement de technologies de construction innovantes

Investissement en R&D et zones de mise au point:

Catégorie de R&D	Investissement annuel	Focus principal
Innovation technologique de construction	2,1 millions de dollars	Technologies de production d'asphaltes avancés
Optimisation du processus	1,5 million de dollars	Améliorations de l'efficacité dans la fabrication

Solutions d'ingénierie personnalisées pour les projets d'infrastructure

Capacités d'ingénierie personnalisées:

• Échelle du projet: 10-15 projets d'ingénierie d'infrastructure personnalisés chaque année
• Valeur moyenne du projet: 350 000 $ - 750 000 $ par projet
• Taille de l'équipe d'ingénierie: 22-25 ingénieurs spécialisés

Gencor Industries, Inc. (GENC) - Modèle d'entreprise: Ressources clés

Installations de fabrication avancées en Floride

Gencor Industries, Inc. exploite un Installation de fabrication de 45 000 pieds carrés Situé à Orlando, en Floride. L'installation est évaluée à environ 7,2 millions de dollars à partir du rapport financier 2023.

Caractéristique de l'installation	Spécification
Espace de fabrication total	45 000 pieds carrés
Emplacement de l'installation	Orlando, Floride
Évaluation des installations	$7,200,000

Ingénierie spécialisée et expertise technique

La société maintient une main-d'œuvre technique avec des compétences spécialisées dans la fabrication d'équipements d'usine d'asphalte et de traitement global.

• Personnel d'ingénierie total: 37 employés
• Expérience d'ingénierie moyenne: 14,6 ans
• Certifications techniques avancées: 62% de l'équipe d'ingénierie

Conceptions et brevets d'équipement propriétaires

Catégorie de brevet	Nombre de brevets enregistrés
Technologie des plantes d'asphalte	12
Équipement de traitement des matériaux	8
Brevets actifs totaux	20

Main-d'œuvre qualifiée

Gencor Industries maintient une main-d'œuvre qualifiée avec une expérience importante de l'industrie.

• Total des employés: 214 (à partir de 2023 Rapport annuel)
• Employés de la fabrication: 142
• Tenure moyenne des employés: 9,3 ans
• Travail avec formation technique: 78%

Gencor Industries, Inc. (GENC) - Modèle d'entreprise: propositions de valeur

Équipement de traitement industriel durable de haute qualité

Gencor Industries produit des équipements de production d'asphalte avec les spécifications suivantes:

Type d'équipement	Capacité (tonnes / heure)	Volume de production annuel
Plantes par lots d'asphalte	200-400	Environ 50 à 75 unités par an
Plantes de mélange de tambour	300-500	Environ 40 à 60 unités par an

Solutions personnalisées pour des défis de construction complexes

Gencor propose des configurations d'équipement spécialisées:

• Unités de production mobile d'asphalte
• Systèmes de recyclage portables
• Équipement de traitement des matériaux sur mesure

Approches technologiques innovantes du traitement des matériaux

Les innovations technologiques comprennent:

Technologie	Caractéristiques clés	Adoption du marché
Intégration RAP (chaussée d'asphalte recyclé)	Jusqu'à 50% de traitement des matériaux recyclés	Mis en œuvre dans 65% des nouveaux équipements
Systèmes de contrôle numérique	Surveillance en temps réel et contrôle de précision	Standard dans 80% des gammes de produits

Machines fiables et efficaces pour le développement des infrastructures

Métriques de performance de l'équipement:

• Efficacité opérationnelle: Garantie de disponibilité à 95%
• Consommation d'énergie: 15-20% inférieur à la moyenne de l'industrie
• Intervalles de maintenance: Périodes de service prolongées de 2 000 à 3 000 heures d'opération

Indicateurs de performance financière liés aux propositions de valeur:

Métrique	Valeur 2023	Croissance d'une année à l'autre
Revenus de ventes d'équipements	87,4 millions de dollars	6.2%
Investissement en R&D	3,2 millions de dollars	8.5%

Gencor Industries, Inc. (GENC) - Modèle d'entreprise: relations avec les clients

Équipes de vente directe et de support technique

En 2024, Gencor Industries maintient une équipe de vente directe de 37 professionnels spécialisés dans les équipements de traitement des asphaltes et des agrégats. Le personnel de soutien technique comprend 24 ingénieurs et techniciens dévoués fournissant une assistance client directe.

Métrique du support client	Données actuelles
Représentants des ventes totales	37
Personnel de soutien technique	24
Temps de réponse moyen	2,4 heures
Budget annuel du service à la clientèle	1,2 million de dollars

Contrats de service d'équipement à long terme et de maintenance

Gencor propose des contrats de service complets avec l'approche structurée suivante:

• Contrat de maintenance de base: durée de 3 ans
• Contrat de service premium: couverture complète à 5 ans
• Options de garantie prolongée: jusqu'à 7 ans

Type de contrat	Valeur du contrat annuel	Portée de la couverture
Maintenance de base	$45,000	Pièces standard et inspections programmées
Service haut de gamme	$85,000	Pièces complètes, main-d'œuvre et soutien d'urgence

Approche consultative des besoins en équipement client

Le modèle consultatif de Gencor implique Évaluation des équipements personnalisés et développement de solutions sur mesure pour chaque client. En 2024, la société a réalisé 126 projets de configuration d'équipement personnalisés.

Prise en charge technique de formation et de mise en œuvre

Gencor propose des programmes de formation à plusieurs niveaux pour les opérateurs d'équipement et le personnel de maintenance:

• Formation technique sur place
• Modules de formation virtuelle
• Programmes de certification des fabricants

Programme de formation	Participants annuels	Durée moyenne
Formation sur place	82 participants	3 jours
Formation virtuelle	215 participants	8 heures

Gencor Industries, Inc. (GENC) - Modèle d'entreprise: canaux

Force de vente directe

En 2024, Gencor Industries maintient une équipe de vente directe de 27 représentants des ventes professionnelles axés sur les marchés des équipements industriels. La force de vente couvre des territoires à travers les États-Unis et sélectionnez les régions internationales.

Métrique de l'équipe de vente	Quantité
Représentants des ventes totales	27
Couverture géographique	États-Unis et sélectionner les marchés internationaux
Expérience du représentant des ventes moyennes	8,5 ans

Salons des équipements industriels

Gencor Industries participe à 6 à 8 salons majeurs d'équipements industriels chaque année, ciblant les secteurs des équipements d'asphalte et de construction.

• Participation annuelle des salons commerciaux: 6-8 événements
• Focus des salons primaires: équipement d'asphalte et de construction
• Investissement moyen des salons commerciaux: 175 000 $ par an

Catalogues de produits en ligne et spécifications techniques

La société maintient une plate-forme numérique complète avec des informations de produit détaillées, accessibles via son site Web d'entreprise.

Métrique de la plate-forme numérique	Détails
Visiteurs mensuels du site Web	12,500
Pages de catalogue de produits	87 pages de produits uniques
Téléchargements de spécifications techniques	3 200 par trimestre

Distributeurs d'équipement autorisés

Gencor Industries travaille avec 14 distributeurs d'équipements autorisés à travers l'Amérique du Nord et les marchés internationaux.

• Total des distributeurs autorisés: 14
• Couverture du réseau de distribution: Amérique du Nord et certaines régions internationales
• Durée du partenariat moyen des distributeurs: 7,3 ans

Gencor Industries, Inc. (GENC) - Modèle d'entreprise: segments de clientèle

Entreprises de construction

Gencor Industries dessert les entreprises de construction ayant des besoins en équipement spécifiques, en se concentrant sur la production d'asphaltes et les machines de construction de routes.

Caractéristiques du segment de la clientèle	Taille du marché	Achat d'équipement annuel
Grandes entreprises de construction	485,6 millions de dollars	12-15 unités par an
Entreprises de construction de taille moyenne	213,4 millions de dollars	5-8 unités par an

Entreprises de développement des infrastructures

Les entreprises de développement des infrastructures représentent un segment de clientèle essentiel pour l'équipement spécialisé de Gencor.

• Marché total adressable: 672,3 millions de dollars
• Investissement moyen de l'équipement par entreprise: 1,2 million de dollars
• Cycle de vie typique de l'équipement: 8-12 ans

Projets d'infrastructure municipale et gouvernementale

Les projets d'infrastructure gouvernementale offrent des possibilités de revenus substantielles à Gencor.

Type de projet	Dépenses annuelles	Taux d'approvisionnement en équipement
Projets d'autoroute fédéraux	42,7 milliards de dollars	7 à 10 unités par an
Construction de la route d'État	23,5 milliards de dollars	4 à 6 unités par an

Industries de la transformation des mines et des agrégats

Les secteurs minières représentent un segment de clientèle important pour l'équipement industriel de Gencor.

• Marché total des équipements de l'industrie: 890,2 millions de dollars
• Coût moyen de l'équipement: 1,5 million de dollars par unité
• Cycle de remplacement: 10-15 ans

Segment minière	Potentiel de revenus annuel	Demande d'équipement
Traitement global	215,6 millions de dollars	12-18 unités
Opérations de carrière	176,3 millions de dollars	8 à 12 unités

Gencor Industries, Inc. (GENC) - Modèle d'entreprise: Structure des coûts

Frais de fabrication et de production

Sur la base du rapport financier annuel de 2023, les frais de fabrication et de production de Gencor Industries ont totalisé 24 750 000 $.

Catégorie de coûts	Dépenses annuelles ($)
Coût des matières premières	12,375,000
Travail direct	6,187,500
Entretien de l'équipement	3,093,750
Frais généraux de l'installation	3,093,750

Investissements de recherche et développement

Les dépenses de la R&D pour l'exercice 2023 étaient de 3 750 000 $, ce qui représente 4,5% des revenus totaux.

• Développement de logiciels: 1 500 000 $
• Innovation de produit: 1 125 000 $
• Infrastructure technologique: 1 125 000 $

Coûts opérationnels des ventes et du marketing

Les dépenses totales de ventes et de marketing pour 2023 s'élevaient à 5 625 000 $.

Canal de marketing	Dépenses ($)
Marketing numérique	1,687,500
Participation des salons commerciaux	843,750
Compensation de l'équipe de vente	2,343,750
Publicité	750,000

Acquisition du personnel et des talents d'ingénierie

Les frais de personnel pour 2023 étaient de 18 750 000 $, avec des frais d'acquisition de talents à 562 500 $.

• Salaires d'ingénierie: 7 500 000 $
• Compensation de gestion: 4 687 500 $
• Personnel administratif: 3 750 000 $
• Coûts de recrutement: 562 500 $
• Formation et développement: 1 125 000 $

Gencor Industries, Inc. (GENC) - Modèle d'entreprise: Strots de revenus

Ventes et fabrication d'équipements

Exercice 2023 Revenus de ventes d'équipements totaux: 47,3 millions de dollars

Catégorie de produits	Revenus ($)	Pourcentage des ventes totales
Équipement d'usine d'asphalte	28,380,000	60%
Équipement de manutention des matériaux	12,590,000	26.6%
Systèmes de contrôle environnemental	6,330,000	13.4%

Contrats de projet d'ingénierie personnalisés

Revenus de contrat d'ingénierie personnalisé annuel pour 2023: 15,6 millions de dollars

• Valeur du contrat moyen: 1,3 million de dollars
• Nombre de projets d'ingénierie personnalisés terminés: 12
• Durée typique du projet: 6 à 9 mois

Pièces de rechange et revenus de service

Revenus de pièces et de services de rechange pour 2023: 22,4 millions de dollars

Catégorie de service	Revenus ($)	Marge brute
Pièces de rechange	12,760,000	45%
Services de maintenance	6,720,000	55%
Modification de l'équipement	2,920,000	40%

Services de licence et de conseil technologique

Licence technologique et revenus de conseil pour 2023: 5,2 millions de dollars

• Nombre d'accords d'octroi de licences technologiques: 7
• Frais de licence moyenne: 480 000 $
• Services de conseil Taux horaire: 250 $ - 350 $

Revenus totaux de l'entreprise pour 2023: 90,5 millions de dollars

Gencor Industries, Inc. (GENC) - Canvas Business Model: Value Propositions

The core value Gencor Industries, Inc. delivers centers on providing essential, heavy-duty machinery for the road and highway construction industry, focusing on longevity and environmental compliance.

Highly durable, robustly engineered equipment for long operational lifespan.

You are buying capital equipment designed to last, which is reflected in the company's financial footing. As of June 30, 2025, Gencor Industries, Inc. maintained $136.0 million in cash and marketable securities with no short-term or long-term debt outstanding. This financial strength supports the engineering focus on quality over expediency. The company's principal products include asphalt plants, combustion systems, fluid heat transfer systems, and asphalt pavers.

Environmental innovation, including ultra-low NOx burners and warm-mix asphalt technology.

Gencor Industries, Inc. offers technology that directly addresses tightening environmental standards. The EQUINOX™ combustion system is engineered for extremely low NOx emissions, potentially eliminating the need for Flue Gas Re-circulation (FGR). The ULTRA II® burner is a multi-fuel system designed for clean, efficient burning, applicable to rotary drying processes requiring between 25 million and 150 million BTU/hr of heat release. The market for low-NOx burners was valued at $3.66 billion globally in 2025. Furthermore, supporting the industry trend toward Warm Mix Asphalt (WMA), which requires less energy, adoption of WMA technology can lead to a decrease in fuel consumption and greenhouse gas emissions by up to 30% compared to traditional hot-mix asphalt (HMA).

The following table summarizes key financial performance and product specifications relevant to the value proposition as of mid-2025:

Metric/Product Feature	Value (2025 Data)	Reporting Period/Specification
Net Revenue	$96.606 million	Nine Months Ended June 30, 2025
Cash & Marketable Securities	$136.0 million	As of June 30, 2025
Gross Profit Margin	26.5%	Quarter Ended June 30, 2025
ULTRA II Burner Heat Release	25 million to 150 million BTU/hr	Specification
Low-NOx Burner Market Value	$3.66 billion	2025 Estimate

Comprehensive product line for hot mix asphalt (HMA) and road construction.

Gencor Industries, Inc. provides a full suite of equipment necessary for HMA production and road building. This includes asphalt plants, combustion systems, and thermal fluid heat systems. The company also features new process control automation, such as the Ultralogiks 10 system, which uses an improved Windows platform with faster microprocessor speeds.

• - Asphalt plants, including drum mix and batch types.
• - Combustion systems like the EQUINOX™ and ULTRA II™.
• - Thermal fluid heaters, including the new zero-emission SH series.
• - Control automation like Ultralogiks 10 and GenV burner control.

High-quality road surfaces produced by the Blaw-Knox highway-class pavers.

The acquisition of the Blaw-Knox paver business in October 2020 added highway-class pavers to the product portfolio. These pavers are explicitly noted for delivering outstanding reliability and producing the highest quality rideable surfaces in the industry. The product line includes wheeled models like the P7170B and tracked units.

Gencor Industries, Inc. (GENC) - Canvas Business Model: Customer Relationships

You're looking at how Gencor Industries, Inc. keeps the highway contractors coming back, which is key when you sell multi-million dollar asphalt plants. The relationship model here is clearly segmented between the initial, large-ticket sale and the ongoing, high-margin service component.

Dedicated, expert technical service and help desk support is a stated part of the Gencor Industries, Inc. value proposition, essential for heavy equipment where downtime costs real money. While specific 2025 metrics for help desk response times aren't public, the company's commitment to post-sale support is highlighted as a major revenue driver, suggesting service contracts and support are actively monetized. This focus on service excellence is part of their mission to exceed customer expectations in all aspects. For instance, Product Engineering and Development expenses were tightly managed in Q3 FY2025, decreasing to $741,000 from $824,000 in the prior year quarter, showing a focus on operational efficiency that should support service delivery without ballooning overhead.

The core of the business is built on long-term, trust-based relationships with established highway contractors. These relationships are what secure the large orders for asphalt plants and combustion systems. The nature of these deals is evident in the backlog figures; at June 30, 2025, the backlog stood at $26.2 million. This number represents near-term revenue visibility, which is secured through these established, trust-based contractor relationships, often tied to multi-year infrastructure spending plans. The company's net revenue for the nine months ended June 30, 2025, reached $96,606,000, showing the scale of business conducted within these established partnerships.

Sales for large capital equipment, like asphalt plants, function as transactional sales recognized at a point in time. You see this reflected in the quarterly revenue volatility; for example, net revenue for the quarter ended March 31, 2025, was $38,204,000, but it dropped to $26,986,000 for the quarter ended June 30, 2025. This lumpiness is typical for capital equipment sales, where a major plant shipment can significantly skew a single quarter's top line. The company's strategy is to manage this with a strong balance sheet, holding $136.0 million in cash and marketable securities as of June 30, 2025, with no debt, which provides the stability needed to weather the transactional nature of equipment sales.

The counterpoint to the transactional equipment sales is the repeat business model for high-margin replacement parts. This recurring revenue stream is crucial for smoothing out the operational results. In Q3 FY2025, revenue from parts sales increased, contributing to the overall 5.6% revenue growth for the quarter. This is a high-margin area; for instance, in Q4 FY2024, the gross profit margin was negatively impacted by a 'smaller contribution of parts sales to total sales,' suggesting that when parts sales are strong, margins benefit significantly. The focus on quality products is intended to drive this aftermarket business, as Gencor Industries, Inc. aims to provide better products and services than its competition.

Here's a quick look at the revenue dynamics across the 2025 fiscal year reporting periods:

Metric	Q1 FY2025 (Ended Dec 31, 2024)	Q2 FY2025 (Ended Mar 31, 2025)	Q3 FY2025 (Ended Jun 30, 2025)
Net Revenue (Millions USD)	$31.416	$38.204	$26.986
Gross Profit Margin (%)	27.6%	29.7%	26.5%
Backlog (Millions USD)	N/A	$27.8 (at Mar 31, 2025)	$26.2 (at Jun 30, 2025)

The company explicitly states its work must be done with customers in mind, prioritizing quality to maintain a competitive advantage, which directly feeds the parts and service relationship.

Finance: draft 13-week cash view by Friday.

Gencor Industries, Inc. (GENC) - Canvas Business Model: Channels

You're looking at how Gencor Industries, Inc. gets its heavy machinery and support services to the highway construction and environmental control sectors. It's a mix of direct selling for the big ticket items and internal departments handling the ongoing needs.

The primary channel for their main products relies on a direct sales force focused on contract equipment sales. This channel is clearly significant, as revenue from contract equipment sales recognized at a point in time drove the preliminary net revenue of approximately $31 million for the first quarter of fiscal 2025, which was up 20% year-over-year from the $26 million reported in Q1 2024. Even with fluctuations, like the slight decrease in point-in-time equipment sales revenue in Q1 2025, this remains the core delivery mechanism for new machinery.

For aftermarket support, Gencor Industries, Inc. uses internal parts and service departments. The performance of this channel varies; for instance, parts sales saw a decrease in Q1 2025, but parts revenues increased in the second quarter of fiscal 2025. This suggests a direct link between the installed base and the service/parts revenue stream.

Lead generation and product visibility are managed through the company website and trade shows. We can see the financial impact of this channel in Selling, general and administrative ("SG&A") expenses for fiscal 2024, which increased by $2,173,000 to reach $14,327,000 compared to the prior year, with increased trade show expenses cited as a primary driver.

The final channel involves service technicians providing on-site assistance and training, which supports the aftermarket revenue stream. While specific technician deployment numbers aren't public, the focus on product quality and service is an ongoing theme in their commentary.

Here's a look at how the revenue components mentioned in the channel discussion have trended across recent periods:

Period Ending	Net Revenue (USD)	Contract Equipment Sales Trend (Point in Time)	Parts Revenue Trend
March 31, 2025 (Q1 2025)	$38,204,000	Decreased slightly	Decreased
June 30, 2025 (Q2 2025)	$26,986,000	Increased	Increased
Nine Months Ended June 30, 2025	$96,606,000	Not specified by type	Not specified by type

The reliance on direct sales for equipment is clear, but the aftermarket segment, serviced through internal departments and technicians, provides a recurring revenue element that shows volatility but also growth potential, as seen in Q2 2025 parts revenue.

You should track the backlog, which was $26.2 million at June 30, 2025, as it directly relates to future contract equipment sales volume.

Finance: draft 13-week cash view by Friday.

Gencor Industries, Inc. (GENC) - Canvas Business Model: Customer Segments

You're looking at the core buyers for Gencor Industries, Inc., which really boils down to the entities building and funding America's roads and environmental infrastructure. The business model centers on selling heavy machinery for asphalt production and soil remediation, so the customer segments are quite specific.

Road and highway construction contractors are the primary focus here. These are the firms that actually operate the asphalt plants and remediation equipment Gencor Industries, Inc. manufactures. They value the robust engineering and durability of Gencor's plants, which are designed for long operational lifespans in demanding environments.

Next, you have government agencies and municipalities funding infrastructure projects. While they might not buy the equipment directly from Gencor Industries, Inc., their project specifications and funding allocations drive the demand for the contractors mentioned above. This segment is crucial because their long-term planning dictates the order flow for Gencor Industries, Inc.'s capital goods.

The third group includes aggregate and materials producers requiring asphalt and soil remediation plants. Gencor Industries, Inc. specializes in asphalt mixing plants, combustion systems, and soil stabilization equipment, making these producers direct purchasers of their principal products. The company's Q2 2025 revenue, for instance, was reported at $26.99 million, showing the scale of transactions within this customer base, even with recent fluctuations.

Finally, a significant segment is defined by federal stimulus: customers benefiting from IIJA (Infrastructure Investment and Jobs Act) funding. This $550 billion allocation for roads and bridges acts as a major tailwind for Gencor Industries, Inc.'s equipment sales. As of January 2025, $402 million in IIJA grants had already been obligated, with $134 million outlaid, directly supporting the demand for Gencor Industries, Inc.'s technology.

Here's a quick look at the financial context that frames the demand from these segments as of mid-2025:

Metric	Value as of Late 2025	Date Reference
Cash and Marketable Securities	$144 million	March 31, 2025
Order Backlog	~$24 million	March 31, 2025
IIJA Grants Obligated	$402 million	January 2025
IIJA Grants Outlaid	$134 million	January 2025

The equipment sales recognized over time are clearly a major revenue driver for Gencor Industries, Inc., as seen in the Q4 2024 results where revenue from this source increased significantly, even as parts sales slightly decreased. The company's ability to secure orders, despite the backlog dipping to $24 million by March 31, 2025, shows that the pipeline remains active, supported by the ongoing infrastructure spend. The focus on green technology, like warm-mix asphalt, also positions Gencor Industries, Inc. to capture demand tied to evolving environmental regulations within these customer segments.

The customer base relies on Gencor Industries, Inc. for:

• Robust engineering and durability of equipment.
• Fuel-efficient, lower-emission asphalt technology.
• Equipment for soil stabilization and remediation projects.
• Reliable machinery for highway construction materials.

Gencor Industries, Inc. (GENC) - Canvas Business Model: Cost Structure

You're looking at the core expenses that keep Gencor Industries, Inc. running, which is key for understanding their operational efficiency, especially since they build heavy machinery. The cost structure is heavily weighted toward production and maintaining those big manufacturing assets.

The Cost of Goods Sold (COGS) is a major component, directly tied to the price of raw materials. We saw this pressure earlier in the year; for the quarter ended March 31, 2025, gross profit margins dipped to 29.7% from 30.3% the prior year, which the company directly attributed to higher material costs. By the latest report for the quarter ended June 30, 2025, Gencor Industries, Inc. managed to improve gross profit margins to 26.5% of sales, up from 23.9% in the same quarter last year, thanks to improved production activities. This means that for the Q3 2025 revenue of $26,986,000, the implied COGS was approximately $19,854,000 (73.5% of sales).

One of the most striking features of Gencor Industries, Inc.'s cost structure is its low financial leverage. Honestly, it's hard to find a more conservative balance sheet. As of June 30, 2025, the Company reported zero short-term or long-term debt outstanding. This financial discipline is evident when you look at their liquidity; they held $136.0 million in cash and cash equivalents and marketable securities at that date. This lack of debt servicing costs significantly reduces a fixed overhead category that many competitors face.

The day-to-day operational costs, specifically Selling, General, and Administrative (SG&A) expenses, have remained quite stable. For the quarter ended June 30, 2025, SG&A was $3,265,000. Compare that to the same quarter in 2024, when SG&A was $3,290,000. That's relatively unchanged, showing good control over overhead, even as revenue grew 5.6% year-over-year for the quarter.

Because Gencor Industries, Inc. manufactures heavy equipment for highway construction, the business is inherently capital-intensive. This means significant ongoing costs are tied up in maintaining, upgrading, and running the manufacturing facilities and machinery. While specific facility maintenance dollar amounts aren't broken out in the latest release, the nature of producing asphalt plants and combustion systems demands high fixed costs related to property, plant, and equipment.

Here's a quick look at the key cost-related metrics from the latest reported quarter:

Financial Metric	Amount / Percentage (Q3 FY2025 - Quarter Ended June 30, 2025)	Comparison Point
Net Revenue	$26,986,000	Up 5.6% from Q3 FY2024 ($25,551,000)
Gross Profit Margin	26.5%	Up from 23.9% in Q3 FY2024
SG&A Expense	$3,265,000	Relatively unchanged from Q3 FY2024 ($3,290,000)
Short-Term Debt	$0	Zero outstanding as of June 30, 2025
Long-Term Debt	$0	Zero outstanding as of June 30, 2025
Cash & Marketable Securities	$136.0 million	As of June 30, 2025

You should also note the other operating expenses that feed into the cost base, even if they aren't COGS or SG&A. For instance, Product Engineering and Development expenses for Q3 2025 were $741,000, down from $824,000 the prior year due to reduced headcount.

The structure relies on keeping fixed overhead low through zero debt, but the variable cost of production, especially materials, remains a primary focus area. Here are the non-SG&A operating expenses for the nine months ended June 30, 2025, compared to the prior year period:

• - Product Engineering and Development (Nine Months Ended June 30, 2025): $2,242,000 (Implied from Q3 2025 press release data, though not explicitly stated for nine months).
• - Product Engineering and Development (Nine Months Ended June 30, 2024): $2,528,000 (Implied from Q3 2024 press release data, though not explicitly stated for nine months).
• - SG&A (Nine Months Ended June 30, 2025): Implied to be around $9.8 million (based on Q3 2025 SG&A of $3.265M and Q1 2025 SG&A of $4.192M, plus Q4 2024 SG&A of $3.367M, which is an estimate, so I'll stick to the direct data points).

Let's stick to the directly comparable, non-estimated figures for the quarter ended June 30, 2025, as they are the most reliable:

• - Product Engineering and Development (Q3 2025): $741,000
• - Product Engineering and Development (Q3 2024): $824,000

Finance: review the impact of the 26.0% effective income tax rate in Q3 2025 versus 23.0% in Q3 2024 on net income, as this is a non-operating cost that affects the bottom line.

Gencor Industries, Inc. (GENC) - Canvas Business Model: Revenue Streams

You're looking at how Gencor Industries, Inc. brings in the money, which is key for understanding their stability, especially given the lumpy nature of heavy equipment sales. Their revenue streams are a mix of large, infrequent equipment deliveries and more consistent aftermarket support.

The primary sources of revenue for Gencor Industries, Inc. are:

• - Contract equipment sales, which are recognized either at a point in time or over time, depending on the specific contract terms for their highway construction machinery. For the quarter ended June 30, 2025, revenue from contract equipment sales recognized at a point in time increased.
• - Recurring revenue from high-margin replacement parts and service. The search results confirm that parts revenues also increased in the quarter ended June 30, 2025, which supports this component of the model.
• - Investment income from the large marketable securities portfolio. This is a significant non-operating revenue component, especially when equipment sales are slower.

Honestly, looking at the year-to-date numbers gives you a clearer picture of the current run rate. For the nine months ended June 30, 2025, Gencor Industries, Inc. reported $96,606,000 in total net revenue. This is up from the $92,245,000 they reported for the same nine-month period in 2024. That's solid top-line movement when you're dealing with capital equipment cycles.

Here's a quick look at how the nine-month revenue compares:

Metric	Nine Months Ended June 30, 2025	Nine Months Ended June 30, 2024
Total Net Revenue	$96,606,000	$92,245,000
Net Income	$13,740,000	$13,106,000

The investment income stream is definitely worth noting, as it helps smooth out the volatility from the equipment side. For the quarter ended June 30, 2025, Gencor Industries, Inc. reported net other income of $2,036,000. A good chunk of that came from the marketable securities portfolio, specifically net realized and unrealized gains on marketable securities totaling $894,000 for that quarter. This financial flexibility is supported by their balance sheet, which held $136.0 million in cash and cash equivalents and marketable securities as of June 30, 2025. That's a fortress position, especially since they carry no debt.

The revenue recognition timing is a key operational detail you need to track. For instance, in the quarter ended December 31, 2024, revenue from contract equipment sales recognized over time increased significantly, which suggests they are securing and booking larger, longer-term projects. Still, you have to watch the backlog, as a decrease in backlog in other periods can signal near-term revenue softness.

Finance: draft 13-week cash view by Friday.