Gencor Industries Announces EJ Elliott Retirement, Marc Elliott to Become Chairman
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 23 2025
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Gencor Industries announced the retirement of EJ Elliott, who serves as the Executive Chairman of the Company's Board of Directors, effective December 31, 2025. In connection with EJ Elliott's retirement, the Board of Directors has appointed Marc Elliott to serve as Gencor's Chairman effective January 1, 2026. Marc Elliott has served on Gencor's Board of Directors since 2007 and currently serves as Gencor's President.
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About GENC
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. The Company's products include asphalt pavers, hot mix asphalt plants, combustion systems and fluid heat transfer systems. The Company also manufactures related asphalt plant equipment, including hot-mix storage silos, fabric filtration systems, cold feed bins and other plant components. Its Hetherington and Berner (H&B) product line is an asphalt plant line. It manufactures combustion systems, which are large burners that can transform solid, liquid or gaseous fuels into usable energy, or burn multiple fuels, alternately or simultaneously. The Company manufactures asphalt pavers under the Blaw-Knox brand. It manufactures the Hy-Way Heat and Beverley lines of thermal fluid heat transfer systems and specialty storage tanks for various industry uses.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Gencor Industries' EJ Elliott Retires as Chairman, Marc Elliott to Succeed
- Leadership Transition: Gencor Industries announced the retirement of founder EJ Elliott effective December 31, 2025, marking a significant change in the company's leadership after his tenure as Chairman since 1968.
- Succession Plan: Marc Elliott will assume the role of Chairman on January 1, 2026, having served on the Board since 2007 and currently as President, ensuring continuity in leadership during this transition.
- Company Overview: Gencor is a leading manufacturer of heavy machinery focused on highway construction and environmental control equipment, and this leadership change may impact the company's strategic direction and market performance.
- Forward-Looking Statements: The company cautioned that future operating results could be affected by various factors, including customer financial conditions and economic changes, urging investors to be aware of potential risks.
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Gencor Reports 10% Decline in Q4 Net Revenue to $18.8 Million
- Revenue Decline: Gencor's net revenue for Q4 FY2025 was $18.8 million, down 10% from $20.9 million in Q4 FY2024, reflecting increased market competition and softening demand.
- Gross Margin Drop: The gross profit margin for Q4 FY2025 was 24.2%, down from 25.6% in FY2024, primarily due to reduced manufacturing overhead absorption, which pressured overall profitability.
- Operating Loss: The company reported an operating loss of $0.2 million in Q4, compared to an operating income of $1.2 million in the same quarter of FY2024, indicating pressures from rising costs and increased selling, general, and administrative expenses.
- Net Income Growth: Despite the poor performance in Q4, Gencor achieved a net income of $15.7 million for FY2025, a 7.6% increase from $14.6 million in FY2024, demonstrating resilience in overall operations.
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