Group 1 - Gentherm Incorporated experienced a negative impact on February 19th, affecting its shareholders [1] - The company is recognized as a global developer and marketer of thermal management technologies and other products [1] Group 2 - Crude Value Insights provides an investment service focused on oil and natural gas, emphasizing cash flow and growth prospects [2]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ Annual report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 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 0-21810 GENTHERM INCORPORATED (Exact name of registrant as specified in its charter) Michigan 95-4318554 (State or other jurisdiction o ...

Financial Data and Key Metrics Changes - Fourth quarter revenues decreased by 3.8% compared to the same period last year, with foreign exchange adjusted revenue decreasing by 3.3% [40] - For the full year, revenue decreased by 0.9% compared to the previous year, or 0.4% when adjusted for foreign exchange [45] - Adjusted EBITDA for the fourth quarter was $41.4 million, representing 11.7% of sales, compared to 13.4% in the fourth quarter of the previous year [44] - The company achieved record adjusted EBITDA of $183 million for the full year, with a margin expansion of 30 basis points compared to the prior year [39] Business Line Data and Key Metrics Changes - Automotive Climate and Comfort Solutions revenue grew by 1.7%, outpacing actual light vehicle production in key markets by 130 basis points when adjusted for foreign exchange [41] - Lumbar and massage revenue increased by 29% excluding foreign exchange, driven by ramped-up production for the Volkswagen MQB platform and several Ford models [41] - Steering Wheel Heater revenue increased by 11% excluding foreign exchange, supported by new launches with Li Auto, Honda, and General Motors [41] - Medical segment revenues increased by 9% excluding foreign exchange, with improved profitability sequentially [43] Market Data and Key Metrics Changes - The company secured $640 million in new automotive business awards in the fourth quarter, with significant success in Thermal Management products [34] - For the full year, Gentherm secured $2.4 billion in automotive new business awards, reflecting increased adoption of its innovations [38] - The company expects 2025 revenue to be between $1.4 billion and $1.5 billion, up approximately 2% when excluding a $35 million year-over-year foreign exchange headwind [50] Company Strategy and Development Direction - The company aims to leverage its technology platforms to accelerate profitable growth, focusing on operational improvements and business process standardization [60] - Gentherm is strategically realigning its manufacturing locations to optimize its footprint, targeting a 30% reduction while maintaining necessary capacity for growth [55] - The company is committed to a strong R&D focus, emphasizing a customer-centric systems-oriented approach to scaling technologies [24] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the near-term challenges in the automotive industry but remains confident in long-term growth opportunities [59] - The company expects to outgrow light vehicle production in key markets despite an uncertain environment, with a projected adjusted EBITDA margin for 2025 in the range of 12% to 13% [51] - Management is focused on maximizing asset utilization and reducing net working capital to expand margins and generate cash [67] Other Important Information - The company plans to consolidate two facilities in Monterrey, close a location in the Czech Republic, and transfer production from Shanghai to Tianjin as part of its footprint optimization strategy [54] - Gentherm's balance sheet remains strong, with a net leverage ratio of approximately 0.5 turns at year-end and ample liquidity of $414 million [47] Q&A Session Summary Question: What are the top two priorities for Gentherm in the coming quarters? - Management identified scaling core technology platforms and standardizing operating systems as the top two priorities [64][66] Question: Can you provide numbers on the savings associated with the footprint reduction? - Management indicated that while there will be headwinds this year, the footprint optimization is critical for achieving mid to high single-digit EBITDA margins over time [71][72] Question: How does Gentherm view the 2025 outlook in relation to industry production? - Management expects a slight decline in industry production but anticipates a 2% revenue increase when excluding foreign exchange [50][75] Question: What is the expected contribution of the pneumatic portfolio to revenue growth? - Management noted that the pneumatic portfolio, along with other core products, is expected to show healthy growth year-over-year [83] Question: How does the company plan to approach capital allocation? - Management plans to prioritize funding organic growth, followed by opportunistic M&A and share repurchases as appropriate [112]

2024 Fourth Quarter Results F e b r u a r y 1 9 , 2 0 2 5 Proprietary © Gentherm Forward-Looking Statements Except for historical information contained herein, statements in this presentation are forward-looking statements that are made by Gentherm Incorporated (the "Company") pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements that address future operating, financial or business performance or strategies or expectations are forward- looking stateme ...

分组1 - Gentherm reported quarterly earnings of $0.29 per share, missing the Zacks Consensus Estimate of $0.68 per share, and down from $0.90 per share a year ago, representing an earnings surprise of -57.35% [1] - The company posted revenues of $352.91 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 2.02%, and down from $366.93 million year-over-year [2] - Gentherm shares have lost about 11.2% since the beginning of the year, while the S&P 500 has gained 4% [3] 分组2 - The current consensus EPS estimate for the coming quarter is $0.68 on revenues of $371.97 million, and for the current fiscal year, it is $3.10 on revenues of $1.55 billion [7] - The Zacks Industry Rank for Automotive - Original Equipment is currently in the bottom 42% of over 250 Zacks industries, indicating potential underperformance compared to higher-ranked industries [8]

Financial Performance - Achieved 61% year-over-year net income growth with record annual adjusted EBITDA of $183 million[2] - GAAP diluted earnings per share for Q4 2024 was $0.49, down from $0.56 in the prior year, while adjusted diluted earnings per share fell to $0.29 from $0.90[12] - Net income for Q4 2024 was $15.3 million, compared to $18.1 million in Q4 2023, with basic earnings per share decreasing from $0.57 to $0.50[37] - Net income for the year ended December 31, 2024, was $64,947,000, an increase from $40,343,000 in 2023, representing a growth of 61%[44] - The diluted earnings per share for the year ended December 31, 2024, was $2.06, up from $1.22 in 2023, an increase of 69%[44] - Adjusted net income for the three months ended December 31, 2024, was $9,094,000, down from $28,891,000 in the same period of 2023, a decrease of 68%[44] Revenue Trends - Fourth quarter product revenues decreased by $14 million, or 3.8%, year-over-year, with automotive revenues down 4.3%[6][7] - Full year 2024 product revenues totaled $1,456.1 million, a decrease of 0.9% compared to 2023[13] - Automotive segment revenue for 2024 was $1,406.3 million, a 1.2% decrease year-over-year, with adjustments for foreign currency translation showing a 0.7% decline[14] - Medical segment revenue increased by 8.1% year-over-year, reaching $49.8 million for full year 2024[16] - Product revenues for Q4 2024 were $352.9 million, a decrease of 3.8% compared to $366.9 million in Q4 2023[37] - The Automotive segment's total revenue decreased by 4.3% year-over-year, from $353.9 million in Q4 2023 to $338.8 million in Q4 2024[40] - Automotive revenues for Q4 2024 were $338.834 million, a decrease of 1.8% compared to $353.945 million in Q4 2023[49] - Adjusted Automotive revenues, excluding foreign currency translation impact, were $338.013 million in Q4 2024, compared to $344.339 million in Q4 2023, reflecting a year-over-year change of 0.8%[49] - Adjusted Automotive Climate and Comfort Solutions revenues for Q4 2024 were $285.448 million, slightly down from $286.262 million in Q4 2023, with a year-over-year increase of 1.7%[49] Expenses and Costs - Research and development expenses for the year ended December 31, 2024, were $88.7 million, down from $94.4 million in 2023[37] - Total operating expenses for Q4 2024 were $62.463 million, down from $64.593 million in Q4 2023[49] - Adjusted operating expenses for Q4 2024 were $55.961 million, compared to $58.385 million in Q4 2023[49] - The company incurred restructuring expenses of $13,110,000 for the year ended December 31, 2024, compared to $4,739,000 in 2023, an increase of 176%[44] - The company reported a restructuring expense of $768 thousand in Q4 2024, compared to $1.327 million in Q4 2023[49] - Non-cash stock-based compensation decreased to $192 thousand in Q4 2024 from $3.164 million in Q4 2023[49] Cash Flow and Assets - The company reported a net cash provided by operating activities of $109,646,000 for the year ended December 31, 2024, compared to $119,265,000 in 2023, a decrease of 8%[47] - Cash and cash equivalents decreased to $134,134,000 in 2024 from $149,673,000 in 2023, a decline of 10%[47] - Total assets as of December 31, 2024, were $1,247,556,000, compared to $1,234,371,000 in 2023, reflecting a slight increase of 1%[46] - Total liabilities increased to $630,609,000 in 2024 from $589,649,000 in 2023, an increase of 7%[46] Guidance and Future Outlook - Guidance for 2025 includes product revenues between $1.4 billion and $1.5 billion, with adjusted EBITDA projected to be 12% to 13% of product revenues[24] - The company expects variability in future earnings due to potential adjustments related to taxes and non-recurring items, impacting GAAP financial results[35] Tax and Leverage - The effective tax rate for 2024 was 36.5%, influenced by one-time tax settlements and geographic earnings mix[21] - The company maintained a net leverage ratio of approximately 0.5x while repurchasing $50.2 million of common stock[7] Foreign Currency Impact - The company reported a foreign currency translation impact of $(1.995) million for Q4 2024, contributing to the overall revenue decline[40] - The company reported a foreign currency effect of $(19,949,000) on cash and cash equivalents for the year ended December 31, 2024[47] - The company experienced a foreign currency translation impact of $(1.934) million on adjusted Automotive revenues in Q4 2024[49]

Core Insights - Gentherm achieved a 61% year-over-year net income growth and reported a record annual adjusted EBITDA of $183 million [1][19] - The company secured annual automotive new business awards totaling $2.4 billion, marking the second consecutive year of awards exceeding $2 billion [1][9] - Gentherm established guidance for 2025, anticipating a low single-digit decrease in light vehicle production in key markets [22] Financial Performance - In Q4 2024, product revenues decreased by $14 million, or 3.8%, compared to Q4 2023, with automotive revenues down 4.3% year-over-year [5][6] - For the full year 2024, product revenues totaled $1.456 billion, a decrease of 0.9% from the previous year [13][19] - The gross margin rate decreased to 24.4% in Q4 2024 from 26.2% in Q4 2023, attributed to product mix and higher costs [8][9] Segment Performance - Automotive revenues for 2024 were $1.406 billion, a 1.2% decrease compared to the prior year, with specific product categories showing mixed results [14][15] - Medical segment revenue increased by 8.1% year-over-year, reaching $49.8 million for the full year 2024 [15][19] Cost Management - Net research and development expenses for Q4 2024 were $21.1 million, slightly down from the prior year, while selling, general, and administrative expenses decreased by $3.3 million [10][18] - Restructuring expenses for 2024 totaled $13.1 million, up from $4.7 million in the previous year, primarily due to manufacturing footprint optimization [19] Earnings Metrics - GAAP diluted earnings per share for Q4 2024 was $0.49, down from $0.56 in Q4 2023, while adjusted diluted earnings per share was $0.29 compared to $0.90 in the prior year [12][44] - For the full year 2024, GAAP diluted earnings per share was $2.06, an increase from $1.22 in 2023, while adjusted diluted earnings per share was $2.33, down from $2.59 [20][44] Guidance and Outlook - The company expects product revenues for 2025 to be between $1.4 billion and $1.5 billion, with adjusted EBITDA projected to be between 12% and 13% of product revenues [25] - The effective tax rate for 2025 is anticipated to be between 26% and 29% [25]

Company Overview - Gentherm is expected to report quarterly earnings of $0.68 per share, reflecting a year-over-year decline of 24.4% [3] - Revenues are anticipated to be $360.21 million, down 1.8% from the same quarter last year [3] - The Most Accurate Estimate for Gentherm is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +5.88% [10] Earnings Expectations - Wall Street anticipates a year-over-year decline in earnings due to lower revenues when Gentherm reports results for the quarter ended December 2024 [1] - The stock may rise if the actual earnings exceed expectations, while a miss could lead to a decline [2] - The consensus EPS estimate has remained unchanged over the last 30 days, indicating stability in analyst expectations [4] Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive Earnings ESP reading is a strong predictor of an earnings beat, especially when combined with a favorable Zacks Rank [8] - Gentherm currently holds a Zacks Rank of 4, which complicates the prediction of an earnings beat despite the positive Earnings ESP [11] Historical Performance - Gentherm has beaten consensus EPS estimates in the last four quarters, with a notable surprise of +13.64% in the last reported quarter [12][13] - The company's ability to meet or exceed past estimates may influence future earnings expectations [12] Industry Context - American Axle & Manufacturing, another player in the automotive industry, is expected to report earnings of $0.08 per share, reflecting a year-over-year increase of 11.1% [17] - American Axle's revenues are projected to be $1.38 billion, down 5.3% from the previous year [17] - The consensus EPS estimate for American Axle has been revised down by 45.5% over the last 30 days, resulting in an Earnings ESP of -15.08% [18]

Core Insights - Gentherm, a leader in thermal management and pneumatic comfort technologies for the automotive industry, will report its financial results for Q4 and year-end 2024 on February 19, 2025 [1] - The company is also recognized for its medical patient temperature management systems [1] Financial Reporting - The financial results will be discussed in a conference call scheduled for 8 am (ET) on the same day [1] - A live webcast and a one-year archived replay of the call will be available on Gentherm's Investor Relations website [2] Contact Information - Investor contact is Gregory Blanchette, reachable at investors@gentherm.com or 248.308.1702 [4] - Media contact is Melissa Fischer, reachable at media@gentherm.com or 248.289.9702 [4] Company Overview - Gentherm specializes in automotive products such as Climate Control Seats, heated interior systems, battery performance solutions, and various electronic devices [4] - The company also develops medical products, including patient temperature management systems [4] - Gentherm employs over 14,000 individuals across multiple countries, including the United States, Germany, China, and others [4]

NORTHVILLE, Mich., Nov. 21, 2024 (GLOBE NEWSWIRE) -- Gentherm (NASDAQ:THRM), the global market leader of innovative thermal management and pneumatic comfort technologies for the automotive industry and a leader in medical patient temperature management systems, today announced that Jonathan (“Jon”) Douyard will join the Company’s leadership team as Executive Vice President, Chief Financial Officer and Treasurer, effective January 1, 2025. Douyard will lead all of Gentherm’s finance, treasury, investor relat ...