Gentex Q3 net sales $575.8M (+17% YoY), EPS $0.45 (+45%), gross margin expands to 33.2%

GENTEX CORP

2023-Q3 EPS reported $1.33 revenue$1,710,082,647

Net sales $575.8M (+17% YoY), unit shipments 12.6M (+10%).
GAAP EPS $0.45, income from operations $122.4M (+41%).
Gross margin 33.2% (up 340 bps YoY); targets 35-36% by end of 2024.
FY2023 revenue guidance unchanged $2.2-2.3B; initial FY2024 revenue ~$2.45-2.55B.
Repurchased 0.8M shares in Q3 at avg $32.41; 18.0M 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 0.95

GENTEX CORP reported the third quarter ended September 30, 2023 results: revenue $575.8 million, net income $104.7 million, EPS $0.45.

Period: the third quarter ended September 30, 2023
Revenue: $575.8 million
Net income: $104.7 million
EPS: $0.45
Result: reported results

Exact text from the filing

dimmable glass and fire protection technologies, today reported financial results for the three and nine months ended September 30, 2023. 3rd Quarter 2023 Summary • Net sales of $575.8 million, a 17% increase compared to the third quarter of 2022 • Unit shipments of 12.6 million, a 10% increase compared to the third quarter of 2022 • Gross profit margin of 33.2%, an

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Source: SEC EDGAR

accession 0000355811-23-000053

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