Gentex Q2 record revenue $583.5M, EPS $0.47 (+52% YoY), raises FY guidance

GENTEX CORP

2023-Q2 EPS reported $0.88 revenue$1,134,234,157

Net sales $583.5M (+26% YoY); net income $109.2M (+51%); diluted EPS $0.47.
Gross margin 33.1% (up 110 bps YoY); unit shipments 12.9M (+21%), both quarterly records.
Automotive net sales $574.1M (+27%); other sales $9.4M (fire -$3.6M, aircraft +$2.5M).
FY2023 revenue guidance raised to $2.2-2.3B (from ~$2.2B); gross margin 32.5-33%.
Repurchased 0.9M shares at avg $27.28; 18.8M 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 0.9

GENTEX CORP reported second quarter ended June 30, 2023 results: revenue $583.5 million, net income $109.2 million, EPS $0.47.

Period: second quarter ended June 30, 2023
Revenue: $583.5 million
Net income: $109.2 million
EPS: $0.47
Result: reported results

Exact text from the filing

car, dimmable glass and fire protection technologies, today reported financial results for the three and six months ended June 30, 2023. 2nd Quarter 2023 Summary • Net sales of $583.5 million, a quarterly sales record, and a 26% increase compared to the second quarter of 2022 • Unit shipments of 12.9 million, a quarterly record, and a 21% increase compared to the

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Source: SEC EDGAR

accession 0000355811-23-000043

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