Gentherm(US:THRM)2024-10-30 15:43Financial 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]