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Jun 30, 2020
Gentherm Q2 2020 Earnings Report
Gentherm's financial performance was impacted by COVID-19, but operating expenses were reduced and cash flow generation remained strong.
Key Takeaways
Gentherm reported a decrease in product revenues by 44.1% compared to the prior-year period due to the COVID-19 pandemic, but reduced operating expenses by 30% and saw double-digit revenue growth in its Medical segment. The company secured $300 million in new automotive business awards and generated a 24% increase in cash flow from operations in the first half of 2020.
Product revenues decreased by 44.1% year-over-year, totaling $136.1 million.
GAAP diluted loss per share was $0.32, compared to earnings per share of $0.08 in the prior-year period.
Operating expenses were reduced by 30% compared to the prior-year period.
Secured new automotive business awards totaling $300 million.
Revenue by Segment
Forward Guidance
The Company expects product revenues in the third quarter of 2020 to improve sequentially to be in the range of $210 to $240 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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