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Gentex (GNTX)
NASDAQ:GNTX
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Earnings Data
Report Date
Jan 24, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.48Last Year’s EPS
$0.5Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 25, 2024
|% Change Since: -1.72%
|Next Earnings Date:Jan 24, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a balanced view, with notable achievements in revenue and income growth despite a challenging environment with declining vehicle production and increased operating expenses. The performance of the Full Display Mirror and first sales of medical devices were significant positives, while macroeconomic challenges and increased expenses posed concerns.Company Guidance
During the Gentex Corporation's Q3 2024 earnings call, the company provided several key metrics and guidance for the upcoming quarters. The company reported net sales of $608.5 million, a 5.7% increase from the previous year, despite a 5% decline in global light vehicle production. Gross margins improved slightly to 33.5%, up from 33.2% the previous year, although still below expectations due to product mix issues and overhead inefficiencies. Operating expenses rose by 13% to $78.3 million, largely driven by staffing and R&D investments for new product launches. The company revised its full-year 2024 revenue guidance to between $2.35 billion and $2.4 billion and expects gross margins to range from 33.5% to 34%. Operating expenses are forecasted to remain between $295 million and $305 million, and capital expenditures are anticipated to be between $150 million and $175 million. Looking ahead, Gentex anticipates light vehicle production to decrease by 4% in Q4 2024 and by 2% for the full year, with a slight recovery of 1% growth projected for 2025. Despite industry challenges, Gentex remains optimistic about continuing to outperform market trends and achieving its long-term margin recovery targets by 2025.Increase in Net Sales and Income
Net sales for Q3 2024 were $608.5 million, up from $575.8 million in Q3 2023. Net income increased by 17% to $122.5 million compared to $104.7 million in Q3 2023.
Improvement in Gross Margin
Gross margin for Q3 2024 was 33.5%, up from 33.2% in Q3 2023, due to higher revenue levels and purchasing cost reductions.
Strong Performance of Full Display Mirror (FDM)
FDM saw significant growth with 9 additional nameplates launched in Q3 2024, contributing to overall growth despite market challenges.
First Sales of Medical Devices
The company recorded its first official sales of medical devices, totaling $0.8 million from the eSight Go product line.
Increase in Other Income
Other income for Q3 2024 was $19.7 million, up from $2.1 million in Q3 2023, driven by noncash gains of $14.5 million and interest income from investments.
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GNTX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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GNTX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 25, 2024 | $29.66 | $31.25 | +5.36% |
| Jul 26, 2024 | $32.42 | $31.07 | -4.16% |
| Apr 26, 2024 | $34.38 | $34.44 | +0.17% |
| Jan 26, 2024 | $31.49 | $33.54 | +6.51% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Gentex (GNTX) report earnings?
Gentex (GNTX) is schdueled to report earning on Jan 24, 2025, TBA Not Confirmed.
What is Gentex (GNTX) earnings time?
Gentex (GNTX) earnings time is at Jan 24, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GNTX EPS forecast?
GNTX EPS forecast for the fiscal quarter 2024 (Q4) is $0.48.
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