Gentherm Q1 revenue down 7.2%; acquires Alfmeier automotive for €177.5M

Gentherm Inc

Revenue $267.7M, down 7.2% YoY; GAAP EPS $0.35 vs $0.99, adjusted EPS $0.41 vs $1.04.
Gross margin fell to 24.0% from 30.4%; Adjusted EBITDA $27.0M vs $51.8M.
Maintains 2022 guidance: revenue $1.12–1.22B, Adj EBITDA margin 14–16%.
Acquiring Alfmeier automotive business for €177.5M cash; 2021 revenue €232M.
Expects ~$10M annual cost savings; deal closes Q3 2022 subject to regulatory approvals.

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