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Jun 30, 2021
Gentherm Q2 2021 Earnings Report
Gentherm's product revenues increased and outperformed light vehicle production, securing new automotive awards and updating 2021 guidance.
Key Takeaways
Gentherm reported a significant increase in product revenues for the second quarter of 2021, driven by strong automotive revenue growth. The company secured $400 million in new automotive awards and updated its full-year 2021 guidance. Despite supply chain challenges, Gentherm achieved its highest level of quarterly cash flow from operations since 2018.
Product revenues increased by 95.5% compared to the second quarter of 2020.
Automotive revenues increased by 105.1% year over year.
GAAP diluted earnings per share was $0.74, compared to a diluted loss per share of $0.32 in the prior-year period.
Secured automotive new business awards totaling $400 million in the quarter.
Forward Guidance
The Company is updating its full-year 2021 guidance that was initially provided in its year-end 2020 earnings release on March 1, 2021.
Positive Outlook
- Product revenues between $1.11 billion and $1.17 billion, based on the current forecast of customer orders and production outlook for the balance of 2021 and current foreign exchange rates
- Adjusted EBITDA between 17% and 18% of product revenues
- Full-year effective tax rate between 20% and 22%
- Capital expenditures between $50 million and $60 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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