Gencor Industries rises on higher Q2 profit

Gencor Industries

12/05/2023 17:11

** Shares of industrial machinery maker Gencor Industries
Inc  GENC.A  up 1.61% at $13.90
    **  Co reports Q2 net income of $4.9 mln, or $0.33 per
diluted share, vs net income of $0.4 mln, or $0.03 per diluted
share, a year earlier
    ** Q2 operating income increased to $5.2 mln from $1.9 mln a
year earlier, due to improved gross profit margins and reduced
operating expenses
    ** We are well-positioned to capitalize on this success and
anticipate continued opportunities going forward- co
    ** GENC stock up 37.62% YTD

 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.chaudhary@thomsonreuters.com))