Core Viewpoint - Gentex Corporation (GNTX) reported a decline in adjusted earnings per share (EPS) and net sales for the first quarter of 2025, indicating challenges in the automotive products market and an unfavorable product mix [1][2]. Financial Performance - GNTX's adjusted EPS for Q1 2025 was 43 cents, matching the Zacks Consensus Estimate but down 8.5% year over year [1]. - The company reported net sales of $576.8 million, missing the Zacks Consensus Estimate of $587 million and decreasing by 2.3% from the previous year [2]. - Gross margin fell to 33.2%, a decline of 110 basis points from Q1 2024, attributed to lower sales, an unfavorable product mix, and new tariff costs [2]. Segmental Performance - The Automotive segment, which is the largest revenue contributor, had net sales of $563.9 million, down from $577.6 million year over year and below the estimate of $570.4 million [3]. - Auto-dimming mirror shipments in North America decreased by 7% to 3,619,000 units, while international shipments fell by 8% to 7,923,000 units, leading to a total shipment decline of 7% to 11,542,000 units [3]. Other Sales and Products - Other net sales, including dimmable aircraft windows and fire protection products, increased slightly from $12.6 million to $12.9 million but were below the estimate of $15.2 million [4]. - Fire protection sales decreased by 1.5% year over year, and dimmable aircraft window sales fell by 15.5% year over year [4]. Operating Expenses - Total operating expenses rose by 8% year over year to $78.7 million in Q1 2025 [5]. - Engineering and R&D expenses increased to $45.92 million from $42.18 million in the same quarter of 2024, while SG&A expenses decreased to $29.93 million from $30.71 million [5]. Shareholder Returns and Cash Position - GNTX paid a dividend of 12 cents per share and repurchased 3.1 million shares at an average price of $24.52 per share [6]. - As of March 31, 2025, the company had approximately $286.6 million in cash and cash equivalents [6]. 2025 Guidance - GNTX revised its 2025 sales guidance to a range of $2.10-$2.2 billion for the primary market and $50-$120 million for the Chinese market, highlighting exposure to tariffs [6]. - The gross margin is projected to be between 33-34%, down from the previous guidance of 33.5-34.5% [7]. - Capital expenditure is anticipated to be between $100 million and $125 million, and operating expenses are estimated to be in the range of $300-$310 million [7].

ZEELAND, Mich., April 25, 2025 (GLOBE NEWSWIRE) -- Gentex Corporation (NASDAQ: GNTX), a leading supplier of digital vision, connected car, dimmable glass, fire protection technologies, medical devices, and consumer electronics, today reported financial results for the three months ended March 31, 2025. 1st Quarter 2025 Summary Net sales of $576.8 million, a 2% decrease compared to the first quarter of 2024, versus light vehicle production that was down 3% quarter over quarter in the Company's primary market ...