Gentex Q1 2023 revenue $550.8M (+18% YoY), EPS $0.42 (+14%), record quarter

GENTEX CORP

2023-Q1 EPS reported $0.42 revenue$550,761,311

Net sales of $550.8M, a quarterly record, up 18% YoY; net income $97.6M, +11%.
GAAP diluted EPS $0.42 vs $0.37 in Q1 2022; gross margin 31.7% (up from Q4 2022's 31.2%).
Automotive net sales $537.4M (+17%); auto-dimming mirror shipments up 16% YoY.
Reiterated FY2023 guidance: revenue ~$2.2B, gross margin 32%-33%, capex $200-$225M.
Repurchased 1.0M shares at avg $27.19; 19.7M shares remain under buyback plan.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

GENTEX CORP reported the three months ended March 31, 2023 results: revenue $550.8 million, net income $97.6 million, EPS $0.42.

Period: the three months ended March 31, 2023
Revenue: $550.8 million
Net income: $97.6 million
EPS: $0.42
Result: reported results

Exact text from the filing

car, dimmable glass and fire protection technologies, today reported financial results for the three months ended March 31, 2023. 1st Quarter 2023 Summary • Net sales of $550.8 million, a quarterly sales record, and an 18% increase compared to the first quarter of 2022 • Gross profit margin of 31.7%, an increase of 50 basis points from the fourth quarter of

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Source: SEC EDGAR

accession 0000355811-23-000030

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