Financial Performance - Net sales for Q2 2024 were $572.9 million, a decrease of 1.0% from $583.5 million in Q2 2023[1] - Gross margin for Q2 2024 was 32.9%, slightly down from 33.1% in Q2 2023, primarily due to lower sales levels and an unfavorable product mix[2] - Income from operations decreased to $114.9 million in Q2 2024, compared to $127.3 million in Q2 2023[6] - Net income for Q2 2024 was $86.0 million, down from $109.2 million in Q2 2023, influenced by lower net sales and operating income[8] - Earnings per diluted share for Q2 2024 were $0.37, compared to $0.47 in Q2 2023[9] - Net income for the first half of 2024 was $194.27 million, a decrease of 6% from $206.73 million in the same period of 2023[27] Sales Breakdown - Automotive net sales were $559.3 million in Q2 2024, a decline of 2.0% from $574.1 million in Q2 2023, with auto-dimming mirror unit shipments down by 6%[10] - Other net sales, including dimmable aircraft windows and fire protection products, increased to $13.6 million in Q2 2024 from $9.4 million in Q2 2023[11] - Total auto-dimming mirror units shipped in Q2 2024 were 12,184 thousand, a decline of 6% compared to 12,921 thousand in Q2 2023[25] Future Outlook - The company expects light vehicle production to decrease by approximately 5% in Q3 2024 compared to Q3 2023, and to decline by about 2% for the full year 2024 compared to 2023[13][14] - Updated revenue guidance for 2024 is now $2.40 - $2.50 billion, down from the original guidance of $2.55 billion[15] Research and Development - The company plans to continue investing in R&D and new product launches, with operating expenses expected to remain elevated due to these initiatives[5] - Engineering, research & development expenses increased to $44.00 million in Q2 2024, up 16% from $37.97 million in Q2 2023[27] Balance Sheet - Total assets as of June 30, 2024, were $2.74 billion, an increase from $2.61 billion at the end of 2023[29] - Cash and cash equivalents rose to $260.24 million as of June 30, 2024, compared to $226.44 million at the end of 2023[29] - Current liabilities increased to $304.73 million as of June 30, 2024, up from $271.61 million at the end of 2023[29] - Total current assets reached $1.08 billion, an increase from $997.74 million at the end of 2023[29] Dividends - The company declared cash dividends of $0.12 per share for both Q2 2024 and Q2 2023[27]

To me, one of the most interesting companies on the market is Gentex Corporation (NASDAQ:GNTX). The business serves as an automotive supplier focused on digital vision, connected car, and dimmable glass products. Even though the vast number of consumers have almost certainly never heard of the firm, almost all of them are likely to own one of its products. Last year alone, the company shipped 50.6 million mirrors globally, and it boasts an 89% share of the interior auto dimming mirror market. What I like ab ...

"Michele and Brian are exceptional corporate and community leaders in several of Horizon Bank's fastest growing markets, with tremendous experience guiding enterprises that are among the largest and most sophisticated in their industries," said Thomas M. Prame, Chairman and President of Horizon Bank and Chief Executive Officer and President of the Company. "We are pleased to welcome them as our newest independent directors, their diverse backgrounds and extensive experience will be instrumental in shaping t ...

ZEELAND, Mich., July 01, 2024 (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 second quarter 2024 financial results on Friday, July 26, before the market opens. The Company will host a conference call for the investment community at 9:30am ET to discuss the results. A webcast replay will be available approximately 24 hours after the c ...

ZEELAND, Mich., May 29, 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 July 17, 2024, to shareholders of record of the common stock at the close of business on July 5, 2024. About the Company Founded in 1974, Gentex Corporation (The NASDAQ ...

ZEELAND, Mich., May 29, 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 July 17, 2024, to shareholders of record of the common stock at the close of business on July 5, 2024. About the Company Founded in 1974, Gentex Corporation (The NASDAQ ...

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 March 31, 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) (State or other jurisdiction of incorporation or ...

Gentex Corporation’s (GNTX) first-quarter 2024 earnings per share (EPS) of 47 cents came in line with the Zacks Consensus Estimate and increased 12% year over year.This Zeeland-based automotive products supplier reported net sales of $590.2 million, which missed the Zacks Consensus Estimate of $600 million but increased 7% from the year-ago period. The company recorded a gross margin of 34.3%, reflecting an increase of 260 basis points from the first quarter of 2023, due to lower raw material costs, higher ...

2 GENTEX CORPORATION OVERVIEW 4 FAST FACTS 5 LETTER FROM THE CEO 6 FINANCIAL PERFORMANCE 8 10K 22 15 YEAR SUMMARY 92 CORPORATE & LEADERSHIP CORPORATE DATA 94 BOARD OF DIRECTORS 95 The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law or the rules of the NASDAQ Global Select Market. Accordingly, any forward-looking statement should be read in conjunction with the additional ...

Gentex Corporation (NASDAQ:GNTX) Q1 2024 Earnings Conference Call April 26, 2024 9:30 AM ET Company Participants Josh O'Berski - Director, IR Steven Downing - President, CEO & Director Kevin Nash - VP, Finance, CFO, Treasurer & CAO Neil Boehm - CTO & VP, Engineering Conference Call Participants Luke Junk - Robert W. Baird & Co. Ronald Jewsikow - Guggenheim Securities James Picariello - BNP Paribas Exane David Whiston - Morningstar Mark Delaney - Goldman Sachs Group Josh Nichols - B. Riley Securities John Mu ...