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Sep 30, 2021
Gentherm Q3 2021 Earnings Report
Gentherm's Q3 2021 financial performance declined due to supply chain disruptions and production volatilities, but they secured new automotive awards and saw increased cash flow from operations.
Key Takeaways
Gentherm reported a decrease in product revenues by 6.2% to $243.4 million compared to the prior-year period. GAAP diluted earnings per share was $0.47, and adjusted earnings per share was $0.51. Despite challenges, the company secured $260 million in new automotive awards and saw an increase in cash flow from operations.
Product revenues decreased by 6.2% year-over-year to $243.4 million.
GAAP diluted earnings per share decreased to $0.47 from $0.73 in the prior-year period.
Adjusted earnings per share decreased to $0.51 from $0.91 in the prior-year period.
Secured automotive new business awards totaling $260 million, with 40% for electric vehicles.
Forward Guidance
The Company is updating its full-year 2021 guidance that was last provided on September 14, 2021:
Positive Outlook
- Product revenues between $1.02 billion and $1.05 billion, based on the current forecast of customer orders, production outlook, supply chain constraints and current foreign exchange rates
- Adjusted EBITDA between 14% and 15% of product revenues
- Full-year effective tax rate between 20% and 22%
- Capital expenditures between $40 million and $50 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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