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Gentherm Q1 2025 Earnings Report
Gentherm reported its first quarter 2025 financial results, with a slight decrease in product revenues but strong growth in lumbar and massage comfort solutions, and significant new business awards.
Key Takeaways
Gentherm delivered first quarter 2025 product revenues of $353.9 million, a slight decrease of 0.6% year-over-year, but an increase of 0.9% excluding foreign currency translation. The company secured $400 million in automotive new business awards and maintained its full-year revenue guidance.
Product revenues decreased 0.6% to $353.9 million, but increased 0.9% excluding foreign currency translation.
Secured $400 million in automotive new business awards, including key conquest wins.
Adjusted EBITDA was $39.3 million, or 11.1% of revenue, a decrease from $43.5 million (12.2% of revenue) in the prior year.
Maintained net leverage at approximately 0.5x and liquidity at approximately $400 million, both flat year over year.
Revenue by Segment
Forward Guidance
Gentherm's full-year 2025 guidance remains unchanged for revenue, with an expanded range for Adjusted EBITDA margin, reflecting current market conditions and expected impacts.
Positive Outlook
- Maintaining full-year revenue guidance between $1.4 billion and $1.5 billion.
- Adjusted EBITDA margin guidance expanded to between 11.5% and 13% of product revenues.
- Capital expenditures expected to be between $70 million and $80 million.
- Company's focus on scaling technology, optimizing operations, and driving efficiencies.
- Confidence in ability to succeed on key priorities and drive shareholder value.
Challenges Ahead
- Tariffs currently in effect are assumed to continue.
- Limited net impact from changes to customer demand schedules to date.
- Overall industry demand reduction based on S&P Global Mobility's Light Vehicle Production Forecast from mid-April.
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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