secwatch.observer — SEC 8-K summary
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Issuer:     GENTEX CORP (GNTX)
CIK:        0000355811
Form:       8-K
Filed at:   2022-10-28T23:59:59+00:00
Accession:  0000355811-22-000041
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gentex Q3 net sales up 24% but gross margin falls; FY2022 margin guidance cut to 32-33%
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- Net sales reached $493.6M (+24% YoY) but gross margin dropped to 29.8% from 35.3% due to cost increases and unfavorable mix.
- Net income $72.7M ($0.31 diluted EPS) vs $76.7M ($0.32) a year ago as operating income slipped.
- Revised FY2022 revenue guidance to $1.90-1.95B (from $1.87-1.97B) and gross margin to 32%-33% (from 33%-34%).
- Company expects margin improvement starting Q4 2022 from customer cost escalation negotiations.
- Repurchased 0.9M shares for $22.3M in Q3; 21.5M shares remaining under buyback plan.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/355811/000035581122000041/0000355811-22-000041-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/355811/000035581122000041/gntx-20221028.htm
  HTML page:      https://secwatch.observer/filing/0000355811-22-000041

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