Gentex Earnings Reports

Gentex Corporation reported a decrease in net sales for the fourth quarter of 2024 to $541.6 million, down 8% compared to the same period in 2023. Earnings per diluted share also decreased to $0.39 from $0.50 year-over-year. The results were impacted by lower light vehicle production and unfavorable product mix, particularly in full display mirror shipments.

Gentex reported record net sales of $608.5 million for Q3 2024, a 6% increase year-over-year, despite a 6% decline in light vehicle production in its primary markets. Net income increased by 17% to $122.5 million, with earnings per diluted share rising by 18% to $0.53.

Gentex Corporation reported a decrease in net sales to $572.9 million and net income to $86.0 million for Q2 2024, compared to $583.5 million and $109.2 million respectively in Q2 2023. The results were affected by lower light vehicle production and an unfavorable product mix. The company is updating its full year guidance based on these results and revised vehicle production forecasts.

Gentex Corporation reported a record first quarter with net sales of $590.2 million, a 7% increase compared to Q1 2023. The company's gross profit margin increased to 34.3%, and net income rose by 11% to $108.2 million, resulting in earnings per diluted share of $0.47.

Gentex Corporation reported a strong fourth quarter in 2023, marked by record net sales of $589.1 million, a 19% increase year-over-year. The company saw significant improvements in gross profit margin, income from operations, and net income, driven by price increases, cost recoveries, and efficient cost management.

Gentex reported a strong third quarter in 2023, with a 17% increase in net sales to $575.8 million and a 44% increase in net income to $104.7 million. Earnings per diluted share rose by 45% to $0.45. The company benefited from improved market conditions and the success of its technology platforms.

Gentex Corporation reported a record-breaking second quarter in 2023, with net sales reaching $583.5 million, a 26% increase compared to the previous year. The company's growth was driven by increased light vehicle production, fewer supply chain challenges, and strong demand for its products, resulting in a 9% outperformance compared to its primary markets.

Gentex Corporation reported a record quarterly sales of $550.8 million, an 18% increase compared to Q1 2022. Net income increased by 11% to $97.6 million, with earnings per diluted share rising to $0.42, a 14% increase.

Gentex Corporation reported an 18% increase in net sales for Q4 2022, reaching $493.6 million, and earnings per diluted share of $0.37, compared to $0.35 in Q4 2021. The company's performance was driven by increased light vehicle production and cost recoveries, though gross margin was affected by rising raw material costs and unfavorable product mix.

Gentex Corporation reported a 24% increase in net sales for Q3 2022, reaching $493.6 million. However, net income decreased slightly due to lower gross margins impacted by rising costs and product mix issues. The company is implementing cost escalation negotiations with customers to improve margins in the coming quarters.

Gentex reported a decrease in net sales and net income for the first quarter of 2022, primarily due to component shortages and supply chain constraints affecting light vehicle production. Despite these challenges, the company's gross margin remained within its annual guidance range, and it repurchased 2.44 million shares of its common stock.

Gentex Corporation reported a decrease in net sales and earnings for the fourth quarter of 2021, impacted by a reduction in light vehicle production and electronics component shortages. The company's gross margin was also negatively affected by lower revenue, increased material costs, higher shipping costs, and labor inefficiencies.

Gentex reported net sales of $399.6 million for Q3 2021, a decrease compared to Q3 2020, due to a 23% reduction in light vehicle production. The company's gross margin was 35.3%, impacted by lower sales and increased costs. Net income for the quarter was $76.7 million, or $0.32 per diluted share.

Gentex reported a significant increase in net sales, gross profit margin, and net income for the second quarter of 2021 compared to the COVID-19 impacted second quarter of 2020. Net sales increased by 86%, gross profit margin improved by 1,631 basis points, and net income saw an $88.9 million increase.

Gentex Corporation reported a 7% increase in net sales, reaching $483.7 million, and a 27% increase in net income to $113.5 million for the first quarter of 2021. Earnings per diluted share rose by 28% to $0.46. The results were achieved despite part shortages that negatively impacted vehicle production levels.

Gentex reported record fourth-quarter net sales of $529.9 million, a 19% increase compared to the fourth quarter of 2019. The company's net income also reached a record high of $143.3 million, a 44% increase compared to the fourth quarter of 2019. Earnings per diluted share were $0.58, a 49% increase compared to the fourth quarter of 2019.

Gentex Corporation reported net sales of $474.6 million for the third quarter of 2020, a 1% decrease compared to the third quarter of 2019. Earnings per diluted share increased by 9% to $0.48. The company's gross margin improved to 39.7%, and operating income increased by 8% to $138.9 million.

Gentex reported a 51% decrease in net sales for Q2 2020 compared to Q2 2019, primarily due to the impact of the COVID-19 pandemic on global light vehicle production. The company recognized severance-related costs to achieve annualized savings and maintained positive cash flow from operations. Despite the challenges, Gentex's balance sheet remained strong.

Gentex Corporation reported a decrease in net sales and earnings for the first quarter of 2020, primarily due to the negative impact of the COVID-19 pandemic on the automotive industry. Net sales decreased by 3% compared to the first quarter of 2019, and net income decreased by 14%.

Gentex Corporation reported a decrease in revenue for Q4 2019 compared to Q4 2018, primarily due to the General Motors strike and a decline in global light vehicle production. However, the company's gross profit margin was higher than expected. Earnings per diluted share were $0.39, compared to $0.41 in the same quarter of the previous year. The company repurchased 2.4 million shares during the quarter.