Exhibit 99.1

GENCOR RELEASES FIRST QUARTER FISCAL 2025 RESULTS

July 25, 2025 (PRIME NEWSWIRE)—Gencor Industries, Inc. (the “Company” or “Gencor”) (NYSE American: GENC) announced today net revenue for the quarter ended December 31, 2024 of $31,416,000 increased 20.7% over net revenue for the quarter ended December 31, 2023 of $26,018,000. Revenue from contract equipment sales recognized over time increased significantly and was slightly offset by a decrease in parts sales. As a percent of sales, gross profit margins were 27.6% in the quarter ended December 31, 2024, compared to 29.0% in the quarter ended December 31, 2023 due to a smaller contribution of parts sales to total sales in the quarter ended December 31, 2024.

Product engineering and development expenses decreased $124,000 to $677,000 for the quarter ended December 31, 2024, as compared to $801,000 for the quarter ended December 31, 2023, due to lower headcount. Selling, general and administrative (“SG&A”) expenses increased slightly to $3,367,000 for the quarter ended December 31, 2024, compared to $3,350,000 for the quarter ended December 31, 2023.

The Company had operating income of $4,624,000 for the quarter ended December 31, 2024 as compared to $3,383,000 for the quarter ended December 31, 2023. The increased operating income was due primarily to higher net revenues for the quarter ended December 31, 2024.

For the quarter ended December 31, 2024, the Company had net other income of $534,000 compared to $2,235,000 for the quarter ended December 31, 2023. Higher yields negatively impacted the value of our bond holdings. Included in net other income for the quarter ended December 31, 2024 were net realized and unrealized losses on marketable securities of ($455,000) compared to net realized and unrealized gains of $1,519,000 for the quarter ended December 31, 2023.

The effective income tax rates for the quarters ended December 31, 2024 and December 31, 2023 were 26.0% and 23.0%, respectively. Net income for the quarter ended December 31, 2024 was $3,817,000, or $0.26 per basic and diluted common share, compared to net income of $4,326,000, or $0.30 per basic and diluted common share for the quarter ended December 31, 2023.

At December 31, 2024, the Company had $130.1 million of cash and cash equivalents and marketable securities compared to $115.4 million at September 30, 2024. Net working capital was $186.5 million at December 31, 2024 compared to $182.2 million at September 30, 2024. The Company had no short-term or long-term debt outstanding at December 31, 2024.

The Company’s backlog was $54.4 million at December 31, 2024 compared to $61.3 million at December 31, 2023.

Gencor Industries, Inc. is a diversified heavy machinery manufacturer for the production of highway construction materials and equipment and environmental control machinery and equipment used in a variety of applications.

GENCOR INDUSTRIES, INC. Condensed Consolidated Income Statements For the Quarters Ended December 31, 2024 and 2023 (Unaudited)
	2024			2023
Net revenue	$	31,416,000		$	26,018,000
Cost of goods sold		22,748,000			18,484,000
Gross profit		8,668,000			7,534,000
Operating expenses:
Product engineering and development		677,000			801,000
Selling, general and administrative		3,367,000			3,350,000
Total operating expenses		4,044,000			4,151,000
Operating income		4,624,000			3,383,000
Other income, net:
Interest and dividend income, net of fees		989,000			716,000
Realized and unrealized gains (losses) on marketable securities, net		(455,000	)		1,519,000
Total other income, net		534,000			2,235,000
Income before income tax expense		5,158,000			5,618,000
Income tax expense		1,341,000			1,292,000
Net income	$	3,817,000		$	4,326,000
Net income per common share – basic and diluted	$	0.26		$	0.30

GENCOR INDUSTRIES, INC.

Condensed Consolidated Balance Sheets

	December 31, 2024 (Unaudited)		September 30, 2024
ASSETS
Current assets:
Cash and cash equivalents	$	39,972,000	$	25,482,000
Marketable securities at fair value (cost of $89,550,000 at December 31, 2024 and $88,777,000 at September 30, 2024)		90,133,000		89,927,000
Accounts receivable, less allowance for credit losses of $425,000 at December 31, 2024 and $390,000 at September 30, 2024		3,596,000		1,980,000
Contract assets		7,921,000		9,339,000
Inventories, net		59,668,000		63,762,000
Prepaid expenses		1,825,000		2,352,000
Total current assets		203,115,000		192,842,000
Property and equipment, net		11,169,000		11,472,000
Deferred income taxes		3,572,000		3,424,000
Other long-term assets		294,000		383,000
Total Assets	$	218,150,000	$	208,121,000
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	3,720,000	$	2,001,000
Customer deposits		7,407,000		5,018,000
Contract liabilities		2,157,000		—
Accrued expenses		3,136,000		3,255,000
Current operating lease liabilities		241,000		330,000
Total current liabilities		16,661,000		10,604,000
Unrecognized tax benefits		1,531,000		1,376,000
Total liabilities		18,192,000		11,980,000
Commitments and contingencies
Shareholders’ equity:
Preferred stock, par value $.10 per share; 300,000 shares authorized; none issued		—		—
Common stock, par value $.10 per share; 15,000,000 shares authorized; 12,338,845 shares issued and outstanding at December 31, 2024 and September 30, 2024		1,234,000		1,234,000
Class B Stock, par value $.10 per share; 6,000,000 shares authorized; 2,318,857 shares issued and outstanding at December 31, 2024 and September 30, 2024		232,000		232,000
Capital in excess of par value		12,590,000		12,590,000
Retained earnings		185,902,000		182,085,000
Total shareholders’ equity		199,958,000		196,141,000
Total Liabilities and Shareholders’ Equity	$	218,150,000	$	208,121,000

Caution Concerning Forward Looking Statements—This press release and our other communications and statements may contain certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including statements about the Company’s beliefs, plans, objectives, goals, expectations, estimates, projections and intentions. These statements are subject to significant risks and uncertainties and are subject to change based on various factors, many of which are beyond the Company’s control. The Company’s actual results may differ materially from those set forth in the Company’s forward-looking statements depending on a variety of important factors, including the financial condition of the Company’s customers, changes in the economic and competitive environments, demand for the Company’s products and the timing and consequences of the delays in the Company’s regaining compliance with its SEC filing obligations. In addition, the impact of (i) the U.S. government’s recent tariff announcements, (ii) the invasion by Russia into Ukraine, and (iii) the conflict between Israel and Hamas, including hostilities involving Iran, as well as actions taken by other countries, including the U.S., in response to such tariff announcements and conflicts, could result in a disruption in our supply chain and higher costs of our products. The words “may,” “could,” “should,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “target,” “goal,” and similar expressions are intended to identify forward-looking statements.

For information concerning these factors and related matters, see the following sections of the Company’s Annual Report on Form 10-K for the year ended September 30, 2024: (a) Part I, Item 1A, “Risk Factors” and (b) Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations”. However, other factors besides those referenced could adversely affect the Company’s results, and you should not consider any such list of factors to be a complete set of all potential risks or uncertainties. Any forward-looking statements made by the Company herein speak as of the date of this press release. The Company does not undertake to update any forward-looking statements, except as required by law.

Unless the context otherwise indicates, all references in this press release to the “Company,” “Gencor,” “we,” “us,” or “our,” or similar words are to Gencor Industries, Inc. and its subsidiaries.

Contact: Eric Mellen, Chief Financial Officer

407-290-6000