Gentex reports record Q4 net sales $589.1M, EPS $0.50, up 35% YoY; guides FY2024 revenue $2.45-2.55B

GENTEX CORP

2023-FY EPS reported $1.84 revenue$2,299,215,044

Q4 net sales $589.1M (record, +19% YoY); net income $116.9M, EPS $0.50 (+35% YoY); gross margin 34.5% (+330 bps).
Full year 2023 net sales $2.30B (record, +20%); net income $428.4M, EPS $1.84 (+35% YoY).
FDM shipments up 45% to 2.44M units; auto net sales $2.25B (+20%).
FY2024 guidance: revenue $2.45-2.55B, gross margin 34-35%, capex $225-250M; FY2025 revenue guided $2.65-2.75B.
Repurchased 4.93M shares for $144.7M in 2023; 15.9M shares remain under buyback plan.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GENTEX CORP reported the fourth quarter and year ended December 31, 2023 results: revenue $589.1 million, net income $116.9 million, EPS $0.50 per diluted share.

Period: the fourth quarter and year ended December 31, 2023
Revenue: $589.1 million
Net income: $116.9 million
EPS: $0.50 per diluted share
Result: reported results

Exact text from the filing

financial results for the fourth quarter and calendar year ended December 31, 2023. Fourth Quarter and Calendar Year 2023 Highlights: • Fourth Quarter 2023 ◦ Net sales of $589.1 million, a new quarterly sales record, and a 19% increase compared to the fourth quarter of 2022 ◦ Gross profit margin of 34.5%, a 330 basis point improvement compared to the fourth

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

GENTEX CORP reported calendar year ended December 31, 2023 results: revenue $2.30 billion, net income $428.4 million, EPS $1.84 per diluted share.

Period: calendar year ended December 31, 2023
Revenue: $2.30 billion
Net income: $428.4 million
EPS: $1.84 per diluted share
Result: reported results

Exact text from the filing

increase compared to the fourth quarter of 2022 ◦ Earnings per diluted share of $0.50, a 35% increase compared to the fourth quarter of 2022 • Calendar Year 2023 ◦ Net sales of $2.30 billion, a new annual sales record, and a 20% increase compared to calendar year 2022 ◦ Gross profit margin of 33.2%, a 140 basis point improvement as compared to calendar year 2022 ◦

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Source: SEC EDGAR

accession 0000355811-24-000007

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