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Mar 31, 2021
Gentherm Q1 2021 Earnings Report
Gentherm reported strong first-quarter results, with automotive revenue significantly outperforming light vehicle production and securing $400 million in new automotive awards.
Key Takeaways
Gentherm reported a strong first quarter in 2021, with product revenues increasing by 26.2% compared to the prior-year period. Automotive revenues saw a significant increase of 29.1% year over year. The company secured $400 million in new automotive awards and maintains its 2021 guidance.
Product revenues increased by 26.2% compared to the first quarter of 2020.
GAAP diluted earnings per share was $0.99, compared to $0.36 for the prior-year period.
Adjusted diluted earnings per share was $1.04, compared to $0.51 in the prior-year period.
Secured automotive new business awards totaling $400 million in the quarter.
Revenue by Segment
Forward Guidance
The Company maintains its full-year 2021 guidance that was initially provided on its year-end 2020 earnings release on March 1, 2020.
Positive Outlook
- Product revenues between $1.05 billion and $1.13 billion, assuming current foreign exchange rates
- Light vehicle production in the Company’s key markets growing at a low-teens rate in 2021 versus 2020
- Adjusted EBITDA between 17% and 19% of product revenues
- Full-year effective tax rate between 22% and 24%
- Capital expenditures between $50 million and $60 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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