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Mar 31
Gentex Q1 2025 Earnings Report
Gentex reported a revenue decline and lower profitability due to weaker light vehicle production mix and tariff-related pressures.
Key Takeaways
Gentex's Q1 2025 performance was marked by a slight revenue decline and reduced profitability driven by a drop in mirror unit shipments, unfavorable product mix, and new tariff expenses. Despite these headwinds, the company improved gross margin sequentially and continued executing on cost efficiency initiatives.
Gentex
Gentex
Gentex Revenue by Segment
Gentex Revenue by Geographic Location
Forward Guidance
Gentex adjusted its 2025 revenue and margin guidance downward due to China tariffs and weaker light vehicle production outlook.
Positive Outlook
- Gross margin improved 70 bps sequentially
- Cost improvement initiatives are being expanded
- Strong balance sheet supports share repurchases
- VOXX merger expected to add up to $280M revenue in 2025
- Strategic sourcing efforts to reduce tariff impact
Challenges Ahead
- 2025 revenue guidance lowered from $2.4–2.45B to $2.1–2.2B
- China revenue under uncertainty due to halted production and tariffs
- Q1 mirror unit shipments declined 7% YoY
- Tariff costs added $650K in Q1 and expected to increase
- Light vehicle production forecast down 5% YoY in primary markets
Revenue & Expenses
Visualization of income flow from segment revenue to net income