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Core Insights - Gentex Corporation (GNTX) reported fourth-quarter 2025 results with adjusted EPS of 43 cents, up from 39 cents a year ago, and net sales of $644.4 million, reflecting a 19% increase year over year [1][9] Financial Performance - The company shipped 3.19 million Full Display Mirror (FDM) units in 2025, marking an 8% year-over-year increase, with expectations of an additional 200,000-400,000 units in 2026 [3][9] - Gentex anticipates consolidated revenues for 2026 to be between $2.6 billion and $2.7 billion, up from $2.53 billion in 2025, with projections for 2027 revenues ranging from $2.75 billion to $2.85 billion [4] Growth Drivers - Growth is expected to be driven by product launches, improved product mix, and the adoption of value-added features, particularly in the FDM segment [3][10] - Strategic acquisitions, including VOXX International and BioConnect, are set to enhance Gentex's product portfolio and support revenue growth [4][10] Market Position and Strategy - Gentex's HomeLink Connect app is expected to increase penetration as demand for home connectivity rises, supported by collaborations with Solace and ADASKY [5] - The company maintains a debt-free balance sheet and a strong cash position, with a current ratio of 2.9 compared to the industry average of 1.9, enhancing financial flexibility [6][11] Challenges - Gentex faces challenges from commodity pricing, particularly in precious metals, and anticipates increased costs from tariffs, which could amount to approximately $45-$50 million in 2026 [7]

Core Insights - Gentex Corporation's third-quarter 2025 adjusted earnings per share (EPS) of 46 cents missed the Zacks Consensus Estimate of 47 cents and decreased by 13.2% year over year [1][10] - The company reported net sales of $655.2 million, which lagged behind the Zacks Consensus Estimate of $674 million but represented an 8% increase from the previous year [2][10] Financial Performance - Gentex's gross margin improved to 34.4%, an increase of 90 basis points from the third quarter of 2024, attributed to reduced purchasing costs, improved product mix, and operational efficiencies [2] - Total operating expenses rose by 31.3% year over year to $102.84 million, with engineering and R&D expenses increasing to $52.63 million and SG&A expenses rising to $49.69 million [5] Segmental Performance - The Automotive segment's net sales totaled $558 million, down from $596.5 million in the year-ago quarter and below the estimate of $587.5 million, with total shipments declining by 8% to 11,246,000 units [3] - Other net sales, including dimmable aircraft windows and fire protection products, increased slightly from $12 million to $12.5 million [4] Shareholder Returns - Gentex paid a dividend of 12 cents per share and repurchased 1 million shares at an average price of $28.18 per share, with nearly 39.6 million shares authorized for repurchase as of September 30, 2025 [6] Guidance Update - The company revised its 2025 revenue guidance to a range of $2.5-$2.6 billion, up from the previous guidance of $2.44-$2.61 billion, reflecting the impact of the VOXX merger [7] - Sales from the primary market are now expected to be between $2.14-$2.15 billion, and sales from China are projected to be between $135-$145 million, an increase from earlier estimates [7][8]

Core Viewpoint - Gentex Corporation's third-quarter earnings and sales fell short of analyst expectations, leading to a decline in share price [1][2]. Financial Performance - The company reported adjusted earnings per share of 46 cents, missing the consensus estimate of 47 cents [2]. - Quarterly sales reached $655.236 million, an 8% year-over-year increase, but fell short of the expected $664.513 million [2]. - Core Gentex revenue, excluding VOXX, was $570.3 million, representing a 6% decline from the third quarter of 2024 [2]. Regional Performance - North American OEM revenue increased approximately 5% quarter-over-quarter, driven by robust production schedules and increased content per vehicle [3]. - In contrast, European revenue declined approximately 14% quarter-over-quarter [3]. Gross Margin and Operating Income - The consolidated gross margin for the third quarter was 34.4%, up from 33.5% in the previous year [4]. - Core Gentex gross margin, excluding VOXX, was 34.9%, reflecting a 140 basis-point increase compared to the third quarter of 2024 [4]. - Consolidated operating income was $122.3 million, down from $125.7 million in the same period last year [5]. Revenue Breakdown - Gentex Automotive reported net sales of $558 million, down from $596.5 million a year earlier, primarily due to a decline in auto-dimming mirror shipments in Europe and China [6]. - The Other segment reported sales of $12.3 million, slightly up from $12 million, including products like dimmable aircraft windows and medical devices [6]. - VOXX contributed $84.9 million in sales as integration efforts continued [7]. Outlook - The company narrowed its fiscal 2025 sales outlook to $2.5 billion–$2.6 billion, compared to the previous range of $2.44 billion–$2.61 billion [8]. - Full-year production in primary markets is expected to decline by 1% year-over-year, with North America projected to decrease approximately 2% compared to 2024 [8]. Market Context - The third quarter reflects ongoing economic challenges, including mix weakness in Europe, Japan, and Korea, as well as headwinds in China due to tariffs [9]. - Gentex shares were down 5.74% at $24.81 at the time of publication [9].

Core Insights - Gentex Corporation reported consolidated net sales of $655.2 million for Q3 2025, an 8% increase from $608.5 million in Q3 2024, with VOXX contributing $84.9 million to the revenue [3][7] - Core Gentex revenue, excluding VOXX, was $570.3 million, reflecting a 6% decline compared to Q3 2024, despite a 2% increase in light vehicle production in primary markets [3][8] - The consolidated gross margin improved to 34.4%, up from 33.5% in Q3 2024, while the core Gentex gross margin was 34.9%, a 140 basis-point increase [4][7] Financial Performance - Consolidated income from operations was $122.3 million, down from $125.7 million in Q3 2024, with core Gentex income from operations at $119.7 million, a 5% decrease [8][11] - Consolidated net income attributable to Gentex was $101.0 million, compared to $122.5 million in Q3 2024, primarily due to a one-time gain in the prior period [11][12] - Earnings per diluted share were $0.46, down from $0.53 in Q3 2024, influenced by the previous one-time gain [12][11] Revenue Breakdown - Gentex Automotive net sales were $558.0 million in Q3 2025, down from $596.5 million in Q3 2024, attributed to lower shipments in Europe and China [13] - Other product lines generated $12.3 million in net sales, slightly up from $12.0 million in Q3 2024 [14] - VOXX's net sales contribution was $84.9 million, with ongoing efforts to align product strategies and optimize customer relationships post-acquisition [15] Operating Expenses - Consolidated operating expenses increased to $102.8 million from $78.3 million in Q3 2024, largely due to the VOXX acquisition [5][6] - Core Gentex operating expenses were $79.2 million, a slight increase from $78.3 million in Q3 2024, including acquisition-related costs and severance expenses [6][5] Future Guidance - The company anticipates a 4% decline in global light vehicle production for Q4 2025 compared to Q4 2024, with full-year 2025 production expected to decrease by 1% [18] - Updated guidance for 2025 includes consolidated revenue estimates of $2.50 – $2.60 billion, with a gross margin of 33.5% – 34% [21][18] - The company plans to continue share repurchases, having repurchased 1.0 million shares for $28.3 million in Q3 2025 [16]

Core Insights - Gentex Corporation (GNTX) reported second-quarter 2025 adjusted earnings per share (EPS) of 47 cents, exceeding the Zacks Consensus Estimate of 40 cents and reflecting a year-over-year increase of 27.03% [1][10] - The company achieved net sales of $657.9 million, surpassing the Zacks Consensus Estimate of $584 million and marking a 14.8% increase from the previous year [2][10] - Gentex revised its 2025 revenue guidance upward to a range of $2.44-$2.61 billion, incorporating the VOXX acquisition and higher expected sales from China [7][10] Financial Performance - The gross margin for the quarter was reported at 34.2%, an increase of 130 basis points from the second quarter of 2024, attributed to reduced purchasing costs and operational efficiencies [2] - Total operating expenses rose by 43.8% year over year to $106.77 million, with engineering and R&D expenses increasing to $51.47 million and SG&A expenses rising to $48.52 million [5] - Gentex paid a dividend of 12 cents per share and repurchased 5.7 million shares at an average price of $22.13, with approximately 40.6 million shares authorized for repurchase as of July 25, 2025 [6] Segment Performance - The Automotive segment generated net sales of $566.5 million, up from $559.3 million in the prior year and exceeding estimates of $548.9 million [3] - Auto-dimming mirror shipments in North America decreased by 8% to 3,746,000 units, while international shipments fell by 4% to 7,830,000 units, leading to a total shipment decline of 5% to 11,575,000 units [3] - Other net sales, including dimmable aircraft windows and fire protection products, decreased from $13.6 million to $12.5 million, missing estimates of $17.1 million [4] Guidance and Projections - The company expects consolidated revenues for 2025 to be between $2.44 billion and $2.61 billion, with primary market sales projected at $2.10-$2.20 billion and China market sales revised to $100-$125 million [7] - The VOXX segment is anticipated to contribute sales in the range of $240-$280 million [7] - Gentex's gross margin is projected to be between 34% and 34.5%, with capital expenditures expected to be between $100 million and $125 million [8]