Gentex Q2 revenue $572.9M miss; EPS $0.37 vs $0.47; guidance cut on weaker auto production

GENTEX CORP

2024-Q2 EPS reported $0.84 revenue$1,163,150,989

Net sales $572.9M, down from $583.5M YoY; net income $86.0M vs $109.2M.
Diluted EPS $0.37 vs $0.47; gross margin 32.9% vs 33.1% as sales and mix weakened.
Revenue guidance for 2024 cut to $2.40-2.50B from $2.45-2.55B; gross margin guidance trimmed to 34-34.5%.
Other income swung to loss of $13.5M due to $18.3M non-cash mark-to-market losses on tech investments.
Light vehicle production forecast for 2024 down 2% vs 2023; 2025 revenue estimate ~$2.6-2.7B.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.