Financial Performance - Product revenues for the third quarter of 2024 reached $371.512 million, compared to $366.195 million in the same period of 2023 [12] - Automotive product revenues for Q3 2024 were $358.804 million, up from $354.782 million in Q3 2023 [12] - Medical product revenues increased to $12.708 million in Q3 2024 from $11.413 million in Q3 2023, a 10% increase excluding foreign exchange [12, 11] - Gross margin increased to 25.5% in Q3 2024 from 23.5% in Q3 2023 [12] - Adjusted EBITDA for Q3 2024 was $48.103 million, with an Adjusted EBITDA margin of 12.9% [12] - For the first nine months of 2024, product revenues were $1.10321 billion, closely matching the $1.102143 billion from the same period in 2023 [12] - Adjusted EPS for Q3 2024 was $0.75, compared to $0.64 in Q3 2023 [12] Business Highlights - The company secured $600 million in new automotive business awards in Q3 [9] - The company launched 30 vehicle models with its products across 11 OEMs [6] Guidance - The company updated its full-year 2024 product revenue guidance to $1.45 billion - $1.47 billion [15] - The company expects the Adjusted EBITDA margin rate to be near the midpoint of 12.5% - 13.5% for the full year [15]

Gentherm (THRM) came out with quarterly earnings of $0.75 per share, beating the Zacks Consensus Estimate of $0.66 per share. This compares to earnings of $0.64 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 13.64%. A quarter ago, it was expected that this maker of climate-controlled seats and other products would post earnings of $0.62 per share when it actually produced earnings of $0.66, delivering a surprise of 6.45%. Ove ...

Exhibit 99.1 Gentherm Reports 2024 Third Quarter Results Strong Outperformance Over Light Vehicle Production Secured Third Quarter Record $600 Million in Automotive New Business Awards Updates 2024 Guidance NORTHVILLE, Michigan, October 30, 2024 /Global 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 its financial result ...

NORTHVILLE, Mich., Oct. 16, 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 Phil Eyler, President and CEO will participate in a fireside chat at the 2024 Baird Global Industrial Conference in Chicago on Tuesday, November 12, 2024. The fireside chat will begin at 6:45 am CST and last for approximately 30 ...

NORTHVILLE, Mich., Oct. 10, 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, will report its financial results for the third quarter 2024 on Wednesday, October 30, 2024, and will host a conference call to discuss those results at 8 am (ET) that same day. Conference Call Toll-free dial-in number: 1-877-407-4018 International ...

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers. Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use fundamental analysis an ...

NORTHVILLE, Mich., Aug. 06, 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 its Executive Vice President, Chief Financial Officer and Treasurer, Matteo Anversa, has resigned effective September 1, 2024 to accept the role of Chief Financial Officer of Logitech International. "On behalf of our employees, o ...

Executive Changes - Gentherm's Executive Vice President, Chief Financial Officer, and Treasurer, Matteo Anversa, has resigned effective September 1, 2024, to accept the role of Chief Financial Officer at Logitech International [1] - The company has initiated a CFO succession process, chaired by the President and CEO, and will provide updates as appropriate [3] Leadership Impact - Matteo Anversa contributed significantly to Gentherm over the past five and a half years, including driving organizational change, implementing the Fit-For-Growth strategy, executing the successful Alfmeier acquisition, and growing the finance and IT teams [2] - Under Anversa's leadership, Gentherm achieved record revenues, expanded profitability, and secured new business wins that will contribute to future growth [3] Company Overview - Gentherm is the global market leader in innovative thermal management and pneumatic comfort technologies for the automotive industry and a leader in medical patient temperature management systems [5] - The company's automotive products include Climate Control Seats, heated automotive interior systems, battery performance solutions, and other electronic devices, while its medical products include patient temperature management systems [5] - Gentherm employs over 14,000 people across facilities in the United States, Germany, China, and several other countries [5]

Gentherm Incorporated (NASDAQ:THRM) Q2 2024 Results Conference Call July 31, 2024 8:00 AM ET Company Participants Greg Blanchette - Senior Director, Investor Relations Phil Eyler - CEO Matteo Anversa - CFO Conference Call Participants Matt Koranda - Roth Capital Partners LLC Luke Junk - Baird Matthew Raab - Craig-Hallum Operator Greetings and welcome to the Gentherm’s Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session w ...

Financial Performance - Record quarterly revenue of $376 million, representing a 0.9% increase from $372.3 million in Q2 2023[1] - Adjusted EBITDA of $49.9 million, an increase of $7.5 million or 17.7% year-over-year from $42.4 million[9] - Adjusted diluted earnings per share rose to $0.66, compared to $0.58 in the prior-year period[22] - Net income for the three months ended June 30, 2024, was $18,876, a significant recovery from a loss of $(1,551) in the same period of 2023[38] - Adjusted net income for the three months ended June 30, 2024, was $21,036, up from $19,040 in the same period of 2023[38] - Net income for the six months ended June 30, 2024, was $33,661 thousand, a significant increase from $6,412 thousand in 2023[42] - The company reported a diluted earnings per share of $0.60 for the three months ended June 30, 2024, compared to a loss of $(0.05) in the same period of 2023[38] Revenue Breakdown - Automotive new business awards totaled $660 million in the quarter, contributing to a year-to-date total of $1.2 billion[3] - Automotive revenues increased 0.7% year-over-year; adjusting for foreign currency translation, the increase was 1.8%[16] - The automotive segment reported a subtotal revenue of $364,002 for the three months ended June 30, 2024, a 0.7% increase from $361,533 in the same period of 2023[34] - The medical segment revenue increased by 8.3% to $11,681 for the three months ended June 30, 2024, compared to $10,790 in the same period of 2023[34] - Automotive revenues for 2024 reached $364,002 thousand, compared to $361,533 thousand in 2023, reflecting a year-over-year growth[44] - Adjusted Automotive Climate and Comfort Solutions revenues were $296,823 thousand, up from $286,357 thousand, marking a 4.8% increase year-over-year[44] - Non-automotive electronics revenues were reported at $346 million for 2024, compared to $3.609 million in 2023[71] Cost and Expenses - Gross margin rate increased to 25.7%, up from 23.6% in the prior-year period, driven by cost reduction initiatives[7] - Net research and development expenses decreased by 11.5% year-over-year to $21.9 million[20] - Selling, general and administrative expenses rose by 2.6% year-over-year to $39.4 million, primarily due to higher compensation expenses[8] - Depreciation and amortization expenses for the three months ended June 30, 2024, were $12.811 million, slightly higher than $12.393 million in 2023[63] - Interest expense, net, increased to $4.002 million for the three months ended June 30, 2024, from $1.932 million in 2023[63] - Restructuring expenses for the three months ended June 30, 2024, were $2.442 million, up from $1.044 million in 2023[63] Cash Flow and Assets - Cash and cash equivalents decreased to $123,466 as of June 30, 2024, from $149,673 at December 31, 2023[40] - Net cash provided by operating activities was $26,824 thousand, down from $58,612 thousand in the previous year[42] - Net cash used in investing activities increased to $24,680 thousand from $6,776 thousand in 2023, primarily due to higher purchases of property and equipment[42] - The company reported a net decrease in cash and cash equivalents of $26,207 thousand, compared to an increase of $14,780 thousand in the prior year[42] - Total current assets increased to $689,686 as of June 30, 2024, compared to $687,564 at December 31, 2023[40] - Total liabilities rose to $600,249 as of June 30, 2024, from $589,649 at December 31, 2023[40] Market Outlook - The company anticipates a low single-digit decline in light vehicle production in key markets for 2024 compared to 2023[47] - Foreign currency translation had a negative impact of $3,187 thousand on revenues[44] - The company is focused on managing new product launches and research and development to enhance market acceptance of its products and technologies[51]