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Mar 31, 2020
Gentherm Q1 2020 Earnings Report
Reported solid financial results despite market challenges, generated a significant increase in cash flow, and outperformed in Automotive versus key markets.
Key Takeaways
Gentherm reported a decrease in product revenues by 11.4% compared to the prior-year period, with an estimated $27 million negative impact from the COVID-19 pandemic. Despite these challenges, the company achieved record quarterly revenue in its Medical business and a significant increase in cash flow. They secured $120 million in new automotive business awards and saw GAAP diluted earnings per share increase to $0.36 from $0.25 in the prior year.
Product revenues decreased by 11.4% year-over-year, with a $27 million negative impact from COVID-19.
GAAP diluted earnings per share increased to $0.36, compared to $0.25 in the prior-year period.
Net cash provided by operating activities was $29.4 million, a significant increase from $6.9 million in the prior-year period.
Record quarterly revenue of $12.1 million was achieved in Gentherm Medical, a 48.3% year-over-year increase.
Revenue by Segment
Forward Guidance
Due to the unprecedented uncertainty facing the automotive industry and global economy, Gentherm withdrew its 2020 guidance on March 25, 2020 and is not providing an update at this time. However, the Company expects product revenues in the second quarter of 2020 to be significantly lower than the first quarter.
Challenges Ahead
- Product revenues in the second quarter of 2020 are expected to be significantly lower than the first quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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