Gentex reports Q3 EPS 53c, consensus 48c

Reports Q3 revenue $608.5M, consensus $592.14M. “During the third quarter of 2024, light vehicle production weakened across all major regions, but especially in our primary markets. When compared to the third quarter of 2023, light vehicle production declined by 6% this quarter in North America, Europe and Japan/Korea, which was significantly worse than the 3% quarter over quarter decline forecasted at the beginning of the quarter,” said Gentex (GNTX) President and CEO, Steve Downing. “The production declines resulted in a sales shortfall of approximately $25 – $30 million for the quarter, but despite that weakness in our end markets, we were able to outperform our primary markets by 12%,” commented Downing.