Financial Performance - For Q4 2024, the company reported net sales of $541.6 million, an 8% decrease from $589.1 million in Q4 2023[3] - The gross profit margin for Q4 2024 was 32.5%, down from 34.5% in Q4 2023, primarily due to lower sales levels and a weaker product mix[4] - For the full year 2024, net sales reached $2.31 billion, a 1% increase from $2.30 billion in 2023, marking the highest annual sales in company history[8] - Net income for the full year 2024 was $404.49 million, compared to $428.40 million in 2023, representing a decline of 6%[30] - Earnings per share (EPS) for Q4 2024 were $0.39, down from $0.50 in Q4 2023[30] Shipments and Production - Full Display Mirror (FDM) unit shipments for 2024 totaled 2.96 million, representing a 21% increase compared to 2023[3] - Total auto-dimming mirror units shipped in Q4 2024 were 10,777 thousand, a 13% decrease compared to 12,356 thousand in Q4 2023[28] - North American interior mirror shipments decreased by 3% year-over-year, totaling 2,004 thousand units in Q4 2024[28] - International exterior mirror shipments fell by 15% year-over-year, totaling 2,656 thousand units in Q4 2024[28] Expenses and Investments - Operating expenses for Q4 2024 increased by 22% to $86.5 million, influenced by staffing and engineering-related professional fees[5] - The company reported an impairment expense of $8.86 million in Q4 2024, which was not present in Q4 2023[30] - The company plans to continue investing in engineering capabilities and new technologies to support product launches and achieve sustainable growth[21] Shareholder Returns - The company returned $316.5 million to shareholders in 2024, a 23% increase from the previous year, including $206.1 million in share repurchases[3] Tax and Forecast - The effective tax rate for 2024 was 14.3%, down from 15.2% in 2023, due to increased benefits from foreign derived intangible income deductions[12] - The company forecasts 2025 revenue between $2.40 billion and $2.45 billion, with a gross margin target of 33.5% to 34.5%[20] - Light vehicle production in 2025 is expected to decrease by 3% in North America and Europe compared to 2024, while total production is projected to increase by 2% in 2026[19] Assets and Cash - Total assets increased to $2.76 billion as of December 31, 2024, up from $2.61 billion a year earlier[32] - Cash and cash equivalents rose to $233.32 million, compared to $226.44 million at the end of 2023[32]

Core Insights - Gentex Corporation reported a decrease in net sales for Q4 2024, totaling $541.6 million, down 8% from $589.1 million in Q4 2023, attributed to a 6% decline in light vehicle production in key markets [3][6] - The company achieved a record annual net sales of $2.31 billion for 2024, a 1% increase from $2.30 billion in 2023, despite a more than 4% decrease in light vehicle production [8][11] - The gross margin for Q4 2024 was 32.5%, down from 34.5% in Q4 2023, primarily due to lower sales levels and a weaker product mix [3][9] Fourth Quarter 2024 Highlights - Net sales were $541.6 million, a decrease of 8% year-over-year [3][6] - Gross profit margin was 32.5%, down from 34.5% in Q4 2023 [3][9] - Income from operations was $89.8 million, compared to $132.8 million in Q4 2023 [5][6] - Net income for Q4 2024 was $87.7 million, down from $116.9 million in Q4 2023 [7][11] - Earnings per diluted share were $0.39, compared to $0.50 in Q4 2023 [7][12] Calendar Year 2024 Highlights - Total net sales reached $2.31 billion, marking a new annual sales record [6][8] - Gross profit margin for the year was 33.3%, slightly up from 33.2% in 2023 [9][11] - Net income for the year was $404.5 million, down from $428.4 million in 2023 [11][12] - Earnings per diluted share for the year were $1.76, compared to $1.84 in 2023 [12][11] - Full Display Mirror unit shipments increased by 21% to 2.96 million units [6][13] Operating Expenses and Financial Performance - Operating expenses in Q4 2024 rose 22% to $86.5 million, influenced by staffing and engineering-related fees [4][10] - For the full year, operating expenses increased 17% to $311.4 million [10] - The effective tax rate for Q4 2024 was 10.3%, down from 15.2% in 2023 [7][11] Shareholder Returns - The company returned $316.5 million to shareholders in 2024, a 23% increase from the previous year [6] - Share repurchases totaled $206.1 million for the year, with 6.4 million shares repurchased [15] Future Guidance - For 2025, the company forecasts revenue between $2.40 billion and $2.45 billion, with a gross margin target of 33.5% to 34.5% [18] - Light vehicle production is expected to decline further in 2025, but the company anticipates revenue growth driven by new product launches [20][19]

Company Overview - Gentex (GNTX) is expected to report quarterly earnings of $0.49 per share, reflecting a year-over-year decline of 2% [3] - Revenues are anticipated to be $601.1 million, which is a 2% increase from the previous year [3] Earnings Expectations - Wall Street anticipates a year-over-year decline in earnings despite higher revenues, indicating a mixed outlook for the company [1] - The consensus EPS estimate has remained unchanged over the last 30 days, suggesting stability in analyst expectations [4] Earnings Surprise Prediction - The Most Accurate Estimate for Gentex is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -5.35%, indicating a bearish sentiment among analysts [10] - Gentex holds a Zacks Rank of 2 (Buy), which complicates predictions regarding an earnings beat [11] Historical Performance - In the last reported quarter, Gentex exceeded expectations by delivering earnings of $0.53 per share against an estimate of $0.50, resulting in a surprise of +6% [12] - Over the past four quarters, Gentex has beaten consensus EPS estimates two times [13] Industry Comparison - Mobileye Global (MBLY), another player in the automotive industry, is expected to report a significant year-over-year decline in earnings per share of 57.1% and a revenue drop of 24.6% [17] - Mobileye's consensus EPS estimate has been revised down by 33.3% over the last 30 days, but it currently has a positive Earnings ESP of 20.00% [18]

Core Viewpoint - Gentex (GNTX) is currently viewed as a more attractive investment option compared to Modine (MOD) for value investors seeking undervalued stocks [1][3][7] Valuation Metrics - GNTX has a forward P/E ratio of 13.24, significantly lower than MOD's forward P/E of 37.29 [5] - The PEG ratio for GNTX is 0.87, indicating better expected earnings growth relative to its price compared to MOD's PEG ratio of 1.10 [5] - GNTX's P/B ratio stands at 2.63, while MOD's P/B ratio is considerably higher at 8.64 [6] Earnings Outlook - GNTX holds a Zacks Rank of 2 (Buy), suggesting a positive earnings estimate revision trend, whereas MOD has a Zacks Rank of 4 (Sell) [3] - The solid earnings outlook for GNTX positions it as the superior value option in the automotive sector [7]

Core Viewpoint - The article emphasizes the importance of value investing and highlights Gentex (GNTX) as a strong value stock based on its favorable valuation metrics and earnings outlook [2][4][7]. Valuation Metrics - Gentex (GNTX) has a Zacks Rank of 2 (Buy) and an A grade for Value, indicating strong potential for undervaluation [4]. - The current P/E ratio for GNTX is 13.20, significantly lower than the industry average P/E of 20.59 [4]. - GNTX's Forward P/E has fluctuated between 12.71 and 16.77 over the past 52 weeks, with a median of 14.80 [4]. - The PEG ratio for GNTX is 0.86, compared to the industry's average PEG of 1.59, suggesting better value relative to growth expectations [5]. - GNTX's PEG has ranged from 0.67 to 1.01 in the past year, with a median of 0.88 [5]. - The P/B ratio for GNTX stands at 2.63, which is lower than the industry average P/B of 3.54 [6]. - Over the last 12 months, GNTX's P/B has varied between 2.53 and 3.74, with a median of 3.19 [6]. Investment Outlook - The combination of GNTX's strong valuation metrics and positive earnings outlook positions it as an impressive value stock currently [7].

Company Overview - Gentex Corp started in the early 1970s in Western Michigan as a manufacturer of smoke detectors [1] - The company introduced an automatic dimming vehicle mirror less than a decade later, which was a safety innovation to reduce nighttime driving dangers [1] Industry Expertise - The author is a journalist based in Detroit with extensive experience covering business and economic topics for major publications like The Wall Street Journal, New York Times, Detroit Free Press, and Bloomberg [1] - The author is an acknowledged expert on the global automotive industry and has written two books on the subject [1]

Gentex CES 2025 Highlights: Dimmable sun visors with switchable vanity mirror and integrated displayNew film-based electrochromic (dimmable) sunroof glassMirror-integrated driver and in-cabin monitoring systemsDigital rearview mirrors with OLED display and water-shedding camera lensNext-gen HomeLink car-to-home automation system compatible with leading smart home brandsThermal imaging technology for nighttime pedestrian detection in automatic emergency braking systemsElectrochromic sunglasses conceptSolace ...

ZEELAND, Mich., Jan. 03, 2025 (GLOBE NEWSWIRE) -- Gentex Corporation (NASDAQ: GNTX), the Zeeland, Michigan-based supplier of digital vision, connected car, dimmable glass, and fire protection technologies, is pleased to announce that it will release its fourth quarter and year end 2024 financial results on Friday, January 31, before the market opens. The Company will host a conference call for the investment community at 9:30am ET to discuss the results. The call will also be available to the general public ...

HomeLink Car-to-Home Automation System Gentex announced today that it will unveil the newest version of its HomeLink car-to-home automation system next week at CES 2025 in Las Vegas. The latest HomeLink will be compatible with Apple CarPlay and Android Auto, operate a broad range of smart home products from leading brands such as Amazon and Samsung Smart Things, and allow users to operate certain Wi-Fi-connected garage doors via smartphone or vehicle-integrated app. ZEELAND, Mich., Jan. 02, 2025 (GLOBE ...

ZEELAND, Mich., Dec. 18, 2024 (GLOBE NEWSWIRE) -- Gentex Corporation (NASDAQ: GNTX), a leading supplier of digital vision, connected car, dimmable glass and fire protection technologies, today announced that Gentex and VOXX International Corporation (NASDAQ:VOXX) have entered into a definitive agreement and plan of merger for Gentex to acquire VOXX in an all-cash transaction. Under the terms of the agreement, Gentex will acquire all the issued and outstanding shares of VOXX common stock not already owned by ...