Exhibit 99.1 https://files.reportify.cc/media/production/GNTXa040 GENTEX REPORTS THIRD QUARTER 2024 FINANCIAL RESULTS ZEELAND, MI -- (GLOBE NEWSWIRE - October 25, 2024) - Gentex Corporation (NASDAQ: GNTX), a leading supplier of digital vision, connected car, dimmable glass and fire protection technologies, today reported financial results for the three and nine months ended September 30, 2024. 3rd Quarter 2024 Summary • Net sales of $608.5 million, a new quarterly sales record, and a 6% increase compared to ...

ZEELAND, Mich., Oct. 25, 2024 (GLOBE NEWSWIRE) -- Gentex Corporation (NASDAQ: GNTX), a leading supplier of digital vision, connected car, dimmable glass and fire protection technologies, today reported financial results for the three and nine months ended September 30, 2024. 3rd Quarter 2024 Summary Net sales of $608.5 million, a new quarterly sales record, and a 6% increase compared to the third quarter of 2023, versus light vehicle production that was down 6% quarter over quarter in the Company's primary ...

In its upcoming report, Gentex (GNTX) is predicted by Wall Street analysts to post quarterly earnings of $0.51 per share, reflecting an increase of 13.3% compared to the same period last year. Revenues are forecasted to be $624.87 million, representing a year-over-year increase of 8.5%.The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over th ...

The market expects Gentex (GNTX) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released ...

MOUNT PEARL, NL, Sept. 24, 2024 /PRNewswire/ - Solace Power Inc. ("Solace"), a global leader in highperformance, leading-edge wireless power technology, is pleased to announce the appointment of Neil Desai, ICD.D, as Chair of its Board of Directors, effective immediately. Neil Desai, ICD.D, has joined Solace Power as Chair of its Board of Directors. (CNW Group/Solace Power) Neil Desai, ICD.D, has joined Solace Power as Chair of its Board of Directors. (CNW Group/Solace Power) Desai is an accomplished execut ...

ZEELAND, Mich., Aug. 30, 2024 (GLOBE NEWSWIRE) -- Gentex Corporation (NASDAQ: GNTX), the Zeeland, Michigan-based supplier of digital vision, connected car, dimmable glass, and fire protection technologies, today announced that its Board of Directors recently declared a quarterly cash dividend of $0.12 (12 cents) per share that will be payable October 23, 2024, to shareholders of record of the common stock at the close of business on October 9, 2024. About the Company Founded in 1974, Gentex Corporation (The ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 0-10235 GENTEX CORPORATION (Exact name of registrant as specified in its charter) Michigan 38-2030505 (State or other jurisdiction o ...

Financial Data and Key Metrics Changes - For Q2 2024, net sales were $572.9 million, down from $583.5 million in Q2 2023, reflecting a decline in light vehicle production in key markets [27][34] - Net income for Q2 2024 was $86 million, compared to $109.2 million in the same quarter last year, primarily due to lower net sales and income from operations [7][32] - Gross margin for Q2 2024 was 32.9%, slightly down from 33.1% in Q2 2023, impacted by lower sales levels [12][30] - Operating expenses increased by 12% to $73.7 million compared to $65.8 million in Q2 2023, mainly due to staffing and engineering-related professional fees [6][31] - Earnings per diluted share for Q2 2024 were $0.37, down from $0.47 in Q2 2023, affected by lower net sales and operating income [33] Business Line Data and Key Metrics Changes - Automotive net sales in Q2 2024 were $559.3 million, down from $574.1 million in Q2 2023, with auto-dimming mirror unit shipments decreasing by 6% [34] - Other net sales increased to $13.6 million in Q2 2024 from $9.4 million in Q2 2023, driven by higher dimmable aircraft window and fire protection sales [16] Market Data and Key Metrics Changes - Light vehicle production in North America, Europe, and Japan/Korea declined by 3% in Q2 2024 compared to the same quarter last year [27] - The company expects light vehicle production to decrease by approximately 5% in Q3 2024 compared to the same quarter last year [21] Company Strategy and Development Direction - The company is focused on a gross margin recovery plan, aiming for a margin of 35% to 36% in the future, despite a temporary setback in Q2 2024 [44] - The company continues to launch new products, with 32 net new nameplate launches in Q2 2024, and anticipates ongoing product launches in the second half of the year [19][20] - The company is evaluating opportunities to reduce the bill of materials on existing programs to support margin recovery [20] Management's Comments on Operating Environment and Future Outlook - Management noted that the decline in production in June was unexpected and primarily affected major customers like GM, Volkswagen, and Toyota [23][60] - The company remains optimistic about the second half of 2024, expecting a return to meaningful growth despite the recent production challenges [29][47] - Management indicated that the recent production shortfall appears to be a one-time event, with July showing expected performance [60][124] Other Important Information - The effective tax rate for Q2 2024 was 15.1%, primarily due to the foreign-derived intangible income deduction [7] - Cash flow from operations for Q2 2024 was $129.3 million, up from $120.9 million in Q2 2023 [38] - The company repurchased 1.4 million shares of common stock at an average price of $34.43 per share during Q2 2024 [35] Q&A Session Summary Question: What were the impacts on production in June? - Management indicated that the shortfall in June was unexpected, with major customers significantly impacted, leading to a decline in shipments [23][60] Question: How does the company view the second half of the year? - Management expressed confidence in a return to strong performance in the second half, despite a 5% drop in production forecast for Q3 [47][60] Question: What is the outlook for FDM volumes? - Management confirmed that they are on track to achieve their target of shipping an incremental 500,000 FDM units in 2024, despite challenges [41][70] Question: How does the company plan to address potential cost challenges? - Management noted that they are continuously looking for opportunities to optimize costs and improve efficiency in a lower production environment [120][106] Question: What are the expectations for the driver monitoring market? - Management believes that the driver monitoring market has the potential to be a material growth driver for the company in the coming years [74][70]

Shares of Gentex have returned -2.5% over the past month versus the Zacks S&P 500 composite's -1.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. Gentex (GNTX) reported $572.93 million in revenue for the quarter ended June 2024, representing a year-overyear decline of 1.8%. EPS of $0.37 for the same period compares to $0.47 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $623.28 million, ...

Gentex (GNTX) came out with quarterly earnings of $0.37 per share, missing the Zacks Consensus Estimate of $0.52 per share. This compares to earnings of $0.47 per share a year ago. These figures are adjusted for nonrecurring items. Gentex, which belongs to the Zacks Automotive - Original Equipment industry, posted revenues of $572.93 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 8.08%. This compares to year-ago revenues of $583.47 million. The company has topped consensus ...