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Dec 31, 2019
Gentherm Q4 2019 Earnings Report
Increased operating income and secured record automotive awards.
Key Takeaways
Gentherm reported a decrease in product revenues for the fourth quarter of 2019 compared to the prior-year period, but the gross margin rate increased. The company secured record quarterly automotive new business awards. The company's 'Fit-for-Growth' program is expected to deliver annualized savings.
Product revenues decreased 10.0% year over year, or 2.9% excluding the impact of foreign currency translation and divested assets.
GAAP diluted earnings per share was $0.32, compared to $0.36 for the prior-year period.
Adjusted diluted earnings per share was $0.65, compared to $0.50 for the prior-year period.
Secured record quarterly automotive new business awards totaling approximately $560 million.
Revenue by Segment
Forward Guidance
The Company is providing the following guidance for full-year 2020, excluding divested assets:
Positive Outlook
- Product revenues are expected to change between down 1% and up 3%, excluding the impact of foreign currency, with year-over-year growth gradually increasing as the year progresses
- Gross margin rate between 29% and 30%
- Adjusted operating expenses between 18% and 19% of product revenues
- Adjusted EBITDA between 15% and 16% of product revenues
- Full-year effective tax rate between 27% and 29%
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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