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Jun 30, 2024
Gentherm Q2 2024 Earnings Report
Reported record quarterly revenue and highest quarterly operating income in three years.
Key Takeaways
Gentherm reported a strong second quarter with record quarterly revenue of $376 million and the highest quarterly operating income in three years. The company secured $660 million in automotive new business awards and saw a 190 basis point year-over-year expansion in Adjusted EBITDA margin rate.
Product revenues increased 0.9% year over year, reaching $375.7 million.
GAAP diluted earnings per share was $0.60, compared to a loss of $0.05 in the prior-year period.
Adjusted diluted earnings per share was $0.66, up from $0.58 in the prior-year period.
Secured automotive new business awards totaling $660 million in the quarter.
Forward Guidance
The company provided full-year 2024 guidance, estimating product revenues at the low end of the $1.5B - $1.6B range and Adjusted EBITDA Margin Rate above the mid-point of the 12.5% – 13.5% range.
Positive Outlook
- Product Revenues: $1.5B – $1.6B
- Adjusted EBITDA Margin Rate: 12.5% – 13.5%
- Adjusted Effective Tax Rate: 26% – 29%
- Capital Expenditures: $65M – $75M
Historical Earnings Impact
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Avg. Return Before/After Earnings
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