Gentex Q3 net sales $399.6M, EPS $0.32; cuts H2 2021 revenue guidance to $770-840M

GENTEX CORP

2021-Q3 EPS reported $1.15 revenue$1,311,328,609

Net sales $399.6M (-16% YoY); net income $76.7M, diluted EPS $0.32 vs $0.48.
Gross margin 35.3%, down from 39.7% YoY, due to supply constraints and component cost increases.
H2 2021 revenue guidance cut to $770-840M from $970M-$1.07B; gross margin guidance 35%-36%.
Repurchased 2.83M shares at avg $32 for $90.6M; 25.4M shares remain under buyback plan.
Auto-dimming mirror shipments down 7% YoY; company outperformed 23% production decline by 700 bps.

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