Gentherm reports Q2 adjusted EPS 66c, consensus 61c

Reports Q2 revenue $376M, consensus $374.15M. Phil Eyler, the company’s President and CEO, said, “The financial and operating results of the second quarter demonstrate the continued strong execution of our growth strategy. With record quarterly revenue, the highest quarterly operating income in three years, a 190 basis point year-over-year expansion in Adjusted EBITDA margin rate, and $660 million in automotive new business awards – including our first proprietary Puls.A massage solution award, the Gentherm team continues to deliver solid results in this challenging environment. He continued, “Our Automotive Climate and Comfort Solutions revenue outperformed actual light vehicle production in our key markets by 500 basis points, fueled by double-digit growth in our Lumbar and Massage Comfort Solutions, validating our investment thesis for the strategic acquisition of Alfmeier.” He concluded, “We continue to make significant strides in the development of our next generation technologies, including ClimateSense, WellSense, and ComfortScale. Our second quarter automotive new business awards brought our year-to-date total to $1.2 billion. This momentum, and our continued progress on Fit-For-Growth 2.0, make us confident in our ability to reach high-teens Adjusted EBITDA margin rate over time.”