Gencor Industries, Inc.

What Gencor Industries, Inc. does

Gencor Industries, Inc. is a US-based, NASDAQ-listed (ticker: GENC) manufacturer of hot mix asphalt (HMA) production equipment, soil remediation plants, industrial combustion systems, and thermal fluid heating systems serving highway construction contractors and state Departments of Transportation across North America. Founded in 1968 by EJ Elliott and headquartered in Orlando, Florida, the company operates a modular product architecture centered on its patented counterflow Ultradrum drum technology and Volatile Reclaim System (VRS), enabling up to 50% recycled asphalt pavement (RAP) processing and elimination of blue smoke and asphalt odor emissions. The product portfolio spans drum mix plants (Ultraplant), batch plants (H&B), portable plants (G-Series), silos (Bituma), burners (General Combustion), thermal fluid heaters (Hy-Way), baghouse filtration (Ultraflo), control automation (Ultralogiks), and acquired Blaw-Knox paving equipment, complemented by a 5-day operator training program at the Orlando University Training Center.

The company makes money by selling custom-configured heavy capital equipment via a direct enterprise field sales motion, with revenue supplemented by replacement parts and training services. Major customers include Vulcan Materials, Pike Industries, R.W. Tomlinson, Tackaberry Construction, Riley Construction, George Reed, Tilcon Connecticut, D'ambra Construction, and Newark Asphalt. Distribution is direct (no channel partners) across the USA, Canada, and Mexico, with lead generation through industry trade shows (CONEXPO-CON/AGG, World of Asphalt), an active website (gencor.com), and a dedicated parts department. Q2 FY2026 net revenue was $33.8M (down 11.5% YoY on order timing) with a record backlog of $60.5M more than double the prior year, gross margin of 31.7% (up 200 bps), $155.1M cash and marketable securities, and zero long-term debt.

Gencor is navigating a generational leadership transition: founder EJ Elliott retired December 31, 2025 after 57 years, with his son Marc Elliott assuming the Chairman role January 1, 2026. CFO Eric Mellen's retirement effective June 10, 2026 left a CFO search underway. The company received an NYSE filing delinquency notification in May 2026 for failure to timely file its Q1 FY2026 Form 10-Q, creating a six-month window to regain listing compliance and representing an active governance and reporting risk to monitor.

Name

Gencor Industries, Inc.

Legal name

Gencor Industries, Inc.

Website

https://gencor.com

Company type

Public

Founded year

1968

Operating status

Operating

Headcount range

101–250 employees

Short description

Gencor Industries (NASDAQ: GENC) manufactures hot mix asphalt plants, soil remediation plants, combustion systems, and thermal fluid heating equipment for highway construction contractors and state DOTs across North America, using its patented Ultradrum counterflow drum and Volatile Reclaim System technologies.

Ownership category

akta.pro rank

Product category

Asphalt Production Equipment Manufacturing

NAICS

Construction Machinery Manufacturing (333120)

SIC

Construction Machinery & Equip (3531)

akta.pro primary industry

Road Building & Paving Equipment Vehicle Manufacturing (Pavers/Rollers/Milling) (IMACAFAE)

Keywords

• Asphalt plant manufacturing
• Hot mix asphalt equipment
• Combustion systems
• Soil remediation plants
• Thermal fluid heating

Headquarters

HQ city

Orlando

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Heavy Equipment Sales: Gencor generates the majority of its revenue from manufacturing and selling hot mix asphalt plants, soil remediation plants, combustion systems, and heat transfer systems to road and highway construction contractors. Equipment is sold as capital goods with configurations including stationary, portable, skidded, and self-erecting models.
2. Parts and Aftermarket: Gencor generates revenue through the sale of replacement parts, components, and consumables for its equipment fleet. The company maintains a dedicated parts department accessible via phone and website inquiry forms.
3. Training and Service: Gencor offers training services through its University Training Center including a 5-day comprehensive hands-on training program for hot mix plant operations. Service and technical support are also offered.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Gencor Industries designs and manufactures heavy capital equipment for road and highway construction, including hot mix asphalt (HMA) drum mix plants (Ultraplant/Ultradrum), batch plants, portable plants, baghouse filtration, hot mix silos, asphalt storage tanks, combustion burners, control automation systems, drag slat conveyors, cold feed systems, RAP recycle systems, and mineral additive systems. The company also sells pre-owned certified equipment and provides 5-day hands-on operator training through its University Training Center.

Product overview

Gencor Industries, Inc. is a manufacturer of heavy construction equipment for the road and highway construction industry, specializing in hot mix asphalt (HMA) production equipment. The company's product portfolio operates as a modular system centered around asphalt plants, with complementary components including drum mix plants (Ultraplant/Ultradrum), batch plants (H&B brand), portable plants (G-Series), and a comprehensive range of supporting equipment including baghouse filtration (Ultraflo), storage tanks and silos (Hy-Way, Bituma brands), burners and combustion systems (General Combustion brand), control automation systems, conveyors, cold feed systems, and recycle systems. The company also offers used equipment and training services. The products are designed to work as an integrated system for highway contractors, with options for stationary, portable, and skidded configurations to meet various job site requirements.

Differentiator

Problem solved

Functional benefit

Brands

• Gencor Ultraplant: Proprietary counterflow drum mix plant technology for hot mix asphalt production with patented volatile capture and recovery system.
• Ultradrum
• General Combustion
• Hy-Way
• H&B (Hetherington & Berner)
• Bituma

Products and services

• Gencor Ultraplant Drum Mix Plants Counterflow drum mix plants featuring patented Ultradrum technology with isolated mixing section and volatile capture and recovery system (VRS), available in stationary, skidded, and portable configurations with 100-800 tons per hour capacity. Designed for highway construction contractors producing hot mix asphalt.
• H&B Batch Plants Hetherington & Berner batch plants for hot mix asphalt production, featuring massive construction with the heaviest steel in the industry, tower design, and a 100-year reputation for durability and low maintenance. Used by highway construction contractors.
• Gencor G-Series Portable Plant Compact, highly mobile hot mix plant built with the Ultraplant's Ultradrum technology in a smaller footprint, featuring a self-erecting silo that deploys in 10 minutes without a crane and integrated Ultraflo baghouse. Targeted at contractors needing portable asphalt production.
• Hy-Way Asphalt Storage Tanks Asphalt storage tanks for storing and heating liquid asphalt, available in vertical, horizontal, and portable configurations with capacities from 1,000 to 50,000 gallons. Marketed under the Hy-Way brand acquired by Gencor.
• Ultraflo Baghouse Filtration Baghouse filtration system for dust collection and environmental control in asphalt plants, featuring modular design with reduced size and weight for portability, full sidewall and top section insulation, and radial vortex exhaust damping.
• General Combustion Burners Multi-fuel burners and combustion systems including Ultra II, Astraflame, and Equinox series for industrial heating applications in asphalt plants and other industrial markets. Marketed under the General Combustion brand.
• Gencor Cold Feed Systems Cold feed systems for metering and feeding aggregate materials into asphalt plants, available in stationary, skidded, and portable configurations. Used by hot mix asphalt producers.
• Gencor Control Automation Systems Proprietary control automation systems including Gen V Burner Control, BC-300 Blending Control, Vector Digital Burner Control, Ultralogiks Plant Control System, and SL-400 Loadout Control, integrating PLC-based plant control with PC-based GUI, redundant hard drives, and remote modem diagnostics.
• Gencor Control House Operator control centers with split-level design offering 360-degree plant visibility, available in portable and stationary configurations for asphalt plant operators.
• Gencor Drag Slat Conveyors Heavy-duty drag slat conveyors with dual bridge I-beam construction, Nihard replaceable castings, and proprietary hydraulic chain adjustment system for aggregate and RAP material handling in asphalt plants.

Quantifiable outcome

• Gross profit margins improved 200 basis points to 31.7% in Q2 FY2026
• +4 more outcomes

Named customers11 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature9 records

Scale indicators8 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Astec Industries: Astec is the most direct peer to Gencor, manufacturing hot mix asphalt plants (including the Six Pack and Double Barrel drum mixers), soil remediation equipment, and related material handling systems for the same highway construction and aggregates customer base.
• Asphalt Drum Mixers (ADM): ADM manufactures counterflow drum mix asphalt plants and is one of the closest direct competitors to Gencor's Ultradrum-based Ultraplant systems, serving the same highway contractors and aggregate producers in North America.
• Wirtgen Group (John Deere): Wirtgen Group, owned by John Deere, is a leading manufacturer of road construction equipment including cold milling machines, recyclers, and paving technology — competing with Gencor for the same highway contractor budgets, particularly on the asphalt production and processing side.
• BOMAG: BOMAG, part of the Fayat Group, is a leading manufacturer of compaction equipment, asphalt pavers, and milling machines used in road construction, overlapping with Gencor across the road-building equipment value chain.
• LeeBoy: LeeBoy manufactures commercial asphalt pavers, road wideners, and related road maintenance equipment, competing with parts of Gencor's highway construction equipment portfolio for the same contractor customers.

Broad incumbents

• Terex Corporation: Terex is a broad construction equipment OEM whose roadbuilding segment (historically including CMI Roadbuilding) competes with Gencor in asphalt plants and paving equipment, while also serving adjacent markets like aerial work platforms and materials processing.
• Volvo Construction Equipment: Volvo CE manufactures a broad portfolio of construction equipment including asphalt pavers and compactors that compete with Gencor for highway contractor capital budgets; Gencor's 2020 acquisition of the Blaw-Knox paver line from Volvo also creates a direct commercial overlap.
• Caterpillar: Caterpillar is a broad incumbent in heavy construction and infrastructure equipment, supplying contractors who also purchase Gencor's asphalt plants, making it a tangential competitor for capital budgets in the same end markets.

Emerging players

• Mauldin Paving Products: Mauldin is a smaller US-based manufacturer of asphalt pavers and maintenance equipment, overlapping with Gencor's road construction customer base but with a narrower product line focused on pavers rather than stationary asphalt plants.
• Eagle Crusher: Eagle Crusher manufactures aggregate processing equipment including crushers and screening plants that frequently integrate into or sit alongside asphalt plant installations, making it an adjacent peer serving many of the same aggregates-producing Gencor customers.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/gencor-industries-inc.

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Gencor Industries, Inc.