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GNTXBearishEarningsnews
Materiality pending

Gentex (GNTX) Q1 Earnings Match Estimates, Increase Y/Y

May 1, 2024, 1:28 PM EDT1 sourcesAI-analyzed

AI summary

What happened, with direct paths to the underlying reporting

- GNTX's Q1 2024 EPS met estimates but had net sales below, up 7% YoY. - Automotive segment's net sales rose 7%, total shipments declined 2%. - Operating expenses rose 19% YoY, dividend of 12 cents per share paid. - Reaffirmed guidance for 2024 with net sales $2.45-$2.55 billion. - GNTX stock has a Zacks Rank #3 (Hold), projected sales growth for competitors. Price Impact Rating: bearish Impact Horizon Rating: short-term Type: Earnings

  • GNTX's Q1 2024 EPS met estimates but had net sales below, up 7% YoY.
  • Automotive segment's net sales rose 7%, total shipments declined 2%.
  • Operating expenses rose 19% YoY, dividend of 12 cents per share paid.
  • Reaffirmed guidance for 2024 with net sales $2.45-$2.55 billion.
  • GNTX stock has a Zacks Rank #3 (Hold), projected sales growth for competitors.

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