Gentherm Q1 net income up 86% YoY; secures $530M in new awards; reaffirms 2024 guidance

Gentherm Inc

2024-Q1 EPS reported $0.47 revenue$356,015,000

Product revenues of $356M down 2.1% YoY; automotive rev down 2.3% but outperformed production by 300bps.
GAAP diluted EPS $0.47 vs $0.24; adjusted EPS $0.62 vs $0.49.
Secured $530M in automotive new business awards, a Q1 record; won GM conquest award for next-gen truck platform.
Gross margin rate improved to 24.9% from 22.3% driven by Fit-for-Growth 2.0 initiatives.
Adjusted EBITDA $43.5M (+4.9% YoY); reaffirms full-year 2024 guidance.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Gentherm Inc reported first quarter ending March 31, 2024 results: revenue $356.0 million, EPS $0.47. Guidance reaffirmed.

Period: first quarter ending March 31, 2024
Revenue: $356.0 million
EPS: $0.47
Guidance: reaffirmed
Result: reported results

Exact text from the filing

medical patient temperature management systems, today announced its financial results for the first quarter ending March 31, 2024. First Quarter Highlights • Product revenues of $356.0 million decreased 2.1% from $363.6 million in the first quarter of 2023. Excluding the impact of foreign currency translation, product revenues decreased 1.3% year over year • Automotive

View on SEC.gov

1341 earnings releases filed in the last 30 days. Browse all earnings releases →

Gentherm Inc filing history →

Source: SEC EDGAR

accession 0000950170-24-050187

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

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.