What is the revenue and EPS growth rate for Gentex year over year?

What were the key takeaways from Gentex's earnings call?

Did Gentex beat or miss consensus estimates last quarter?

What is Gentex's gross profit margin?

What does Gentex do and what are its main business segments?

What is the market's earnings forecast for Gentex next quarter?

What is Gentex's latest dividend and current dividend yield?

What factors drove the changes in Gentex's revenue and profit?

- **Revenue resilience**: $655.2 million Q3 revenue (+8% YoY) despite global headwinds, driven by VOXX and North America growth.
- **Gross margin expansion**: 34.4% (vs. 33.5% YoY), despite 90bps tariff impact. Core Gentex margin +140bps to 34.9%.
- **FDM momentum**: 200,000-300,000 units expected in 2025, with Ford Bronco and Volvo launches.
- **VOXX integration success**: $84.9 million contribution, ahead of synergy target with $10 million+ annualized savings.
- **Risk management**: Q4 tariff recovery expected, but 2025 gross margin guidance cautious on China/Europe challenges.

**【CEO Summary Section】**
- Q3 2025 revenue: $655.2 million (+8% YoY), including VOXX ($84.9 million). Core Gentex revenue: $570.3 million (-6% YoY) vs. +2% light vehicle production growth.
- Regional performance: North America +5% QoQ, Europe -14% QoQ (mix shift to lower-trim vehicles), China -35% YoY (tariffs).
- Gross margin: 34.4% (33.5% YoY), driven by North America mix, cost reductions, and operational efficiency. Tariffs reduced margin by 90bps.
- Net income: $101 million (-17% YoY) due to one-time gain in Q3 2024. EPS: $0.46 vs. $0.53 YoY.

**【CFO Financial Commentary】**
- Automotive sales: $558 million (-6% YoY) due to lower Europe/China shipments, offset by North America growth.
- Other products: $12.3 million (stable YoY). VOXX: $84.9 million.
- Share repurchases: $28.3 million in Q3, $230.5 million YTD. Remaining capacity: $39.6 million.
- Cash: $178.6 million (down from $233.3 million due to VOXX acquisition and repurchases).
- Operating cash flow: $146.9 million Q3, $461.6 million YTD.

**【COO/CTO Product Update】**
- FDM sales: 200,000-300,000 units expected in 2025 vs. 2024. Notable launches: Ford Bronco, Volvo dealer-installed option.
- Dimmable sunroofs/visors: Targeting Q1-Q2 2026 for in-house production. Complex manufacturing challenges remain.
- Driver monitoring systems: 3 new customer launches by mid-2026. Guardian Optical acquisition driving growth.

**【Guidance】**
- 2025 revenue: $2.5-2.6 billion (includes VOXX). Gross margin: 33.5-34%. Operating expenses: $380-390 million (ex-severance).
- Tax rate: 16-16.5%. CapEx: $115-125 million. Depreciation: $96-99 million.

**【Q&A Highlights】**
- **Europe challenges**: $5-6 million temporary revenue loss from OEM shutdowns, but ongoing mix shift to lower-content vehicles. Q4 expected to stabilize but remain challenging.
- **Tariff recovery**: Q3 tariffs not fully reimbursed, but Q4 recovery expected. 2025 gross margin guidance reflects tariff headwinds.
- **VOXX integration**: Synergy target of $40 million annualized by Q2 2027. VOXX already accretive to EPS ahead of schedule.
- **FDM outlook**: Strong Q3 growth (200,000-300,000 units vs. 2024). ICE/hybrid adoption offsetting EV delays. 2026 growth expected despite EV market uncertainty.
- **China risks**: Domestic supplier preference trend likely to persist. Focus on new product development to regain share.

Gentex Corporation (GNTX) Q3 2025 Earnings Call Transcript

- **Revenue Growth:** Q2 2025 consolidated revenue $657.9 million (+15% YoY), core Gentex $579 million (+1% YoY). 
- **Margin Expansion:** Gross margin 34.2% (32.9% YoY), core Gentex 35.3% (240bps YoY). 
- **VOXX Integration:** $78.8 million in Q2, targeting 200-300bps margin improvement. 
- **China Risk:** Sales down to $33 million Q2 vs. $50-60M forecast, driven by tariffs and de-contenting. 
- **FDM Momentum:** 150,000-300,000 unit shipment increase expected in 2025, with 18 new launches Q2. 


**【CEO Summary Section】**
- Consolidated revenue for Q2 2025 was $657.9 million, up 15% YoY, driven by core Gentex growth and the VOXX acquisition. Core Gentex revenue was $579 million (+1% YoY) despite a 2% decline in light vehicle production. VOXX contributed $78.8 million.
- Gross margin improved to 34.2% (32.9% YoY), with core Gentex at 35.3% (240bps YoY improvement). Adjusted gross margin was 34.6% excluding purchase accounting adjustments.
- Operating income was $118.5 million (+3% YoY). Core Gentex operating income was $123.8 million (+8% YoY), excluding one-time costs.
- Full year 2025 guidance: Revenue $2.44-2.61 billion (includes VOXX), core Gentex gross margin 34-34.5%, and effective tax rate 16-17%.

**【CFO Financial Commentary】**
- Automotive net sales: $66.5 million (down due to China tariffs), offset by advanced feature growth. Other product lines: $12.5 million (down 7% YoY). VOXX net sales: $78.8 million.
- Share repurchases: $126.2 million in Q2, $202.2 million YTD. New authorization for 40 million shares (~18% of outstanding). 
- Balance sheet: Cash $119.8 million, short-term investments $290.1 million. Accounts receivable $372.9 million, inventory $473.3 million.

**【Product Updates】**
- **Full Display Mirror (FDM):** 150,000-300,000 unit shipment increase expected in 2025. New launches on Cadillac, Ferrari, Genesis, Hyundai, and Mitsubishi. 
- **Large Area Devices:** Progress on production lines for sunroof advisors. Target: production within 24 months. 
- **Place Product Line:** Launched through major big box retailer. Features low-frequency sounders and mobile app integration. 
- **VOXX Integration:** Focused on aligning product strategies, optimizing customer relationships, and identifying operational synergies. 

**【Q&A Highlights】**
- **Gross Margin Drivers:** Supply chain savings (100-150bps), labor/overhead improvements (150-200bps), offset by tariffs (50-100bps). 
- **China Strategy:** Reduced sales to $33 million Q2 vs. $50-60 million forecast. Long-term focus on margin improvement, not volume. 
- **VOXX Synergies:** Target 200-300bps gross margin improvement over 2 years. Audio team relocating manufacturing to reduce tariff risk. 
- **FDM Growth:** 18 net new launches Q2, with take rates and production volumes exceeding expectations. 
- **Tariff Reimbursement:** Expect most/all of Q2's $2.7 million tariff costs to be reimbursed in H2. 


Gentex (GNTX)-25 Jul 25-2025 Q2 Earnings call transcript

- **Revenue Under Pressure**: Core markets down 5% YoY, China sales slashed 75% due to tariffs.
- **Margin Challenges**: 50-100bps margin hit from tariffs, offset by $0.65 million cost reductions.
- **FDM Growth**: 100,000 unit YoY increase, but dependent on North American production.
- **Tariff Risk**: $50 million incremental COGS, uncertain customer reimbursement.
- **VOXX Synergies**: $325-375 million annualized, but tariff exposure complicates outlook.

**【CEO Summary Section】**
- Q1 2025 net sales of $576.8 million, down 2.3% YoY due to 1% global light vehicle production growth offset by 3% QoQ decline in North America, Europe, Japan, and Korea.
- Gross margin of 33.2% (-110bps YoY) driven by lower revenue, unfavorable product mix, and $0.65 million new tariffs.
- Operating expenses rose 8% YoY to $78.7 million, including $2.9 million severance and $0.9 million VOXX merger costs.
- Net income of $94.9 million (-12.3% YoY), EPS $0.42 (-10.6% YoY).

**【CFO Financial Commentary】**
- Automotive sales $563.9 million (-2.4% YoY), Other sales $12.9 million (+2.4% YoY) including $0.9 million biometric and $0.4 million medical device revenue.
- Inventory $408.9 million (-6.5% QoQ), Cash $286.6 million (+22.8% QoQ), Cash flow from ops $148.5 million (+14.7% YoY).
- Repurchased 3.1 million shares ($24.52 avg price), $6.3 million remaining under buyback plan.

**【Product Updates (COO/CTO)】**
- 21 new mirror launches (60% advanced features), Full Display Mirror shipments expected +100,000 units YoY.
- Driver monitoring system launched on Rivian R1T/S, 3 more launches 2025-26.
- FDM take rate impacted by North America production down 11% YoY in last 3Q 2025.

**【2025 Guidance】**
- Core markets revenue $2.1-2.2 billion (-5% YoY), China $50-120 million (-75% YoY).
- Gross margin 33-34%, OpEx $300-310 million, Tax rate 15-17%.
- VOXX to add $240-280 million 2025, but tariffs may limit $325-375 million annualized target.

**【Q&A Highlights】**
- Tariffs reduced China sales by $100 million, 50-100bps margin headwind.
- FDM growth driven by volume, not trim-mix; 100,000 unit YoY increase.
- VOXX integration on track, targeting $325-375 million annualized.
- Cautious on 2026 guidance due to tariff uncertainty.


Gentex (GNTX)-25 Apr 25-2025 Q1 Earnings call transcript

- **Q4 2024 Results**: Revenue down 8% YoY ($541.6M) due to 6% LVP decline and weak mix. Gross margin 32.5% (-200bps YoY), FY24 margin 33.3% (flat YoY).
- **FY24 Record Sales**: $2.31B (+1% YoY) driven by FDM units (+21% to 2.96M). 2025 guidance: Revenue $2.4B-$2.45B, 35% gross margin target by end-2025.
- **Product Momentum**: FDM expands to Renault/VW; CES 2025 showcases wireless power, next-gen HomeLink, and Large Area Dimming Films.
- **2025 Outlook**: 7% revenue outperformance vs. -2% LVP, focused on margin recovery and new product launches.

**【CEO Summary Section】**
- Q4 2024 net sales: $541.6M (-8% YoY), driven by 6% LVP decline in primary markets and weak vehicle mix. Revenue shortfall of $45M-$50M vs. QoQ forecast.
- Gross margin: 32.5% (vs. 34.5% YoY), impacted by lower sales, weaker mix, and overhead inefficiencies. FY24 gross margin: 33.3% (vs. 33.2% YoY).
- Operating expenses: $86.5M (+22% YoY), including $8.9M impairment charge. FY24 OpEx: $311.4M (+17% YoY).
- FY24 record sales ($2.31B) despite 4% LVP decline, driven by FDM unit growth (+21% to 2.96M units).
- 2025 guidance: Revenue $2.4B-$2.45B, gross margin 33.5%-34.5%, OpEx $310M-$320M. Target 35% gross margin by end-2025.

**【CFO Financial Commentary】**
- Automotive net sales: $531.3M (Q4) / $2.26B (FY24). FDM shipments +21% FY24, offsetting -6% Mirror units.
- Other products: Fire Protection +5% Q4, Dimmable Windows -23% Q4. Medical sales $1.4M FY24 (eSight launch).
- Cash flow: Q4 $154.4M / FY24 $498.2M. CapEx $144.7M FY24 (-21% YoY). Shares repurchased: 6.4M ($206.1M) FY24.

**【Product Update】**
- CES 2025 highlights: Large Area Dimming Films, wireless power demo, next-gen HomeLink, FDM on Renault/VW. FY24 FDM shipments +21%, 133 nameplates launched.
- 2025 focus: Margins, cost reductions, efficiency improvements. 60% of Q4 FDM launches included advanced features.

**【Q&A Highlights】**
- Inventory rebalancing: ~50% of Q4 shortfall attributed to OEM destocking, expected to normalize in 2025.
- 2025 LVP outlook: -2% in primary markets, +7% revenue outperformance via new product launches.
- FDM momentum: Luxury and volume brands expanding adoption, 2025 shipments on track for >30% CAGR.

GNTX

GNTX fundamentals

Earnings Call

You can ask Aime