secwatch.observer — SEC 8-K summary
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Issuer:     Gentherm Inc (THRM)
CIK:        0000903129
Form:       8-K
Filed at:   2024-07-31T23:59:59+00:00
Accession:  0000950170-24-088211
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gentherm Q2 2024: Record revenue $376M, EPS $0.60 vs loss, $660M new awards
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- Product revenue $375.7M (+0.9% YoY); GAAP diluted EPS $0.60 vs ($0.05); adjusted EPS $0.66 vs $0.58.
- Adjusted EBITDA $49.9M (+17.7% YoY); gross margin improved to 25.7% from 23.6% in prior year.
- Auto new business awards $660M in Q2, $1.2B YTD; includes first proprietary Puls.A massage solution award.
- Automotive revenues outperformed key market light vehicle production by 500 bps; Medical revenue up 8.3% YoY.
- Fit-for-Growth 2.0 driving cost reductions; new plant start-up costs in Morocco and Mexico partially offset gains.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/903129/000095017024088211/0000950170-24-088211-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/903129/000095017024088211/thrm-20240731.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-088211

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer