tiprankstipranks

Gentherm reports Q1 adjusted EPS 49c, consensus 50c

Reports Q1 revenue $363.63M, consensus $355.36M. CEO Phil Eyler said "I am proud of the team for delivering record revenue, outperforming actual light vehicle production in our key markets by over 800 basis points organically in Automotive, and improving profitability in the first quarter". Eyler continued, "We secured $480 million of new business awards from auto makers around the world, including a breakthrough combined thermal comfort, lumbar and massage system award with Jaguar Land Rover for their new Jaguar BEVs. We also won our first lumbar and massage award with General Motors on a future electric vehicle. The pace of these conquest awards is well ahead of our expectations following the Alfmeier acquisition. Our momentum in the first quarter demonstrates our unique positioning to capitalize on industry megatrends to create a flywheel of profitable growth."

Confident Investing Starts Here:

Published first on TheFly

See Insiders’ Hot Stocks on TipRanks >>

Read More on THRM:

Disclaimer & Disclosure

Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.

Report an Issue