Welcome to our dedicated page for Gentex news (Ticker: GNTX), a resource for investors and traders seeking the latest updates and insights on Gentex stock.
Gentex Corporation (NASDAQ: GNTX), founded in 1974 and headquartered in Zeeland, Michigan, is a leading global electronics company renowned for its innovative product offerings in the automotive, aerospace, and fire protection industries. The company's core competencies include highly automated electronics, CMOS camera development, vacuum coatings, and glass bending and fabrication, making it a vertically integrated powerhouse in technology innovation.
Originally established to produce smoke-detection equipment, Gentex entered the automotive sector in 1982 with its first glare-control interior mirror and continued to pioneer with electrochromic technology in 1987. Today, automotive revenue constitutes about 98% of Gentex's total revenue, with 2023 sales reaching approximately $2.3 billion and 50.6 million mirrors shipped. The product mix consists of 63% interior and 37% exterior mirrors.
Gentex is a long-time supplier of electro-optical products, providing nearly every major automaker with connected-car technologies and advanced electronic features that enhance driver vision and safety. In the aerospace sector, the company supplies dimmable aircraft windows that optimize passenger experience. Its fire protection segment continues to innovate with products like the PLACE Smart Smoke/CO Detection system, a holistic suite of smart home safety devices.
Recent strategic moves include new R&D activities, collaboration agreements, and acquisitions aimed at diversifying its product lines. At the 2024 Consumer Electronics Show (CES), Gentex showcased groundbreaking advancements across several product categories, including the PLACE Smart Smoke/CO Detection system, ADASKY thermal imaging technology for automotive applications, and driver and in-cabin monitoring systems.
Gentex's latest product, the Full Display Mirror (FDM), integrates advanced cameras and dimmable technology to provide superior rearward visibility and enhanced driver safety. Additionally, its HomeLink Smart Home Solutions bridge the gap between car connectivity and home automation, offering a seamless ecosystem controlled via a single app.
Financially, Gentex reported net sales of $590.2 million for Q1 2024, the highest quarterly sales level in the company's history, driven by strong content growth and increased demand for its advanced features. The company continues to focus on margin recovery and cost optimization, aiming for a gross margin of 35%-36% by the end of 2024.
With a 50-year legacy of innovation and a robust portfolio of technologies, Gentex remains at the forefront of enhancing safety, vision, and connectivity across multiple industries.
Gentex Corporation (NASDAQ: GNTX) showcased advanced products at CES 2023, focusing on enhancing safety and comfort in automotive and aerospace sectors. Key features include a scalable driver monitoring system to assess distraction and drowsiness, and the Full Display Mirror (FDM), now on 80 vehicles. Gentex, a leader in dimmable technology, also introduced new dimmable sunroofs and smart glass innovations. The company emphasizes connectivity with HomeLink integration and showcases the eSight Go, wearable tech for visual impairments. The event runs from January 5-8 in Las Vegas.
Gentex Corporation (NASDAQ: GNTX), a supplier of digital vision and connected car technologies, will announce its fourth quarter and full year 2022 financial results on January 27, 2023, before market opening. The company will hold a conference call at 9:30 AM ET to discuss these results, available to the public through a live audio webcast. Investors can register to ask questions and receive detailed call access. A replay of the webcast will be available 24 hours after the call concludes, providing investors another opportunity to review the financial updates.
Gentex Corporation (NASDAQ: GNTX) has partnered with the ODC Network to establish the Gentex Discovery Preschool, an innovative on-site childcare center for its employees. Scheduled to open in 2024, this 43,000-square-foot facility will accommodate up to 250 children and feature nature-based educational programs. The initiative aims to address childcare shortages, enhancing workforce participation and making Gentex an attractive employer in West Michigan. The center will offer subsidized rates and extended hours for both first and second shift workers.
Gentex Corporation (NASDAQ: GNTX) announced a quarterly cash dividend of $0.12 per share, payable on January 18, 2023.
This dividend will be distributed to shareholders of record as of January 6, 2023. Gentex, based in Zeeland, Michigan, specializes in digital vision, connected car, and fire protection technologies.
The Editorial Advisory and Securities Review Committee of BetterInvesting Magazine has designated Ulta Beauty (NASDAQ: ULTA) as the "Stock to Study" and Gentex (NASDAQ: GNTX) as the "Undervalued Stock" for January/February 2023. This recognition comes amid a market surge, reinforcing BetterInvesting's principles of regular investing regardless of market conditions. The committee emphasizes the importance of investor education and encourages independent analysis before making investment decisions. For insights, refer to the magazine's January/February 2023 issue.
Gentex Corporation (NASDAQ: GNTX) is set to showcase its innovative product lineup at the SEMA Show in Las Vegas from November 1-4, 2022. Key highlights include video-based digital rearview mirrors for both passenger and professional racing vehicles, a dimmable sun visor concept, and in-vehicle connectivity solutions. The company will also present a custom Chevrolet Silverado and matching Vorsheer trailer. Known for its contributions to automotive safety and technology, Gentex aims to strengthen customer engagement with e-concierge services integrated into vehicle applications.
Gentex Corporation (NASDAQ: GNTX) reported a strong third quarter in 2022, with net sales of $493.6 million, marking a 24% increase from $399.6 million in Q3 2021. Despite challenges such as customer order fluctuations and supply chain issues, the company achieved a gross profit margin of 29.8%. However, net income dipped to $72.7 million, down from $76.7 million year-over-year. The company repurchased 0.9 million shares, totaling $22.3 million. Future production forecasts show growth, but ongoing challenges may affect revenue projections.
Gentex Corporation has launched the Gentex Foundation, a nonprofit organization dedicated to charitable giving, alongside the Amanda Clark Scholarship for female high school seniors pursuing STEM degrees. The Foundation will focus on providing grants to nonprofits in various sectors, including economic development and diversity initiatives. Gentex, a major employer in Ottawa County with over 5,300 employees, recently announced a $300 million expansion that will create 500 jobs in West Michigan, reinforcing its commitment to community support and employee development.
Gentex Corporation (NASDAQ: GNTX) is set to release its third quarter 2022 financial results on October 28, before the market opens. A conference call will follow at 9:30 AM ET for the investment community to discuss these results. Participants can register for the call to receive dial-in numbers or join via a listen-only webcast. A replay of the call will be available 24 hours post-event. The announcement highlights Gentex's continuous commitment to financial transparency and engagement with its investors.
Gentex Corporation (NASDAQ: GNTX) announced a quarterly cash dividend of $0.12 per share, payable on October 19, 2022. Shareholders on record by the close of business on October 7, 2022 will receive this dividend. Founded in 1974, Gentex specializes in digital vision, connected car technologies, dimmable glass, and fire protection. The company serves the automotive and aviation markets with innovative products, including automatic-dimming rearview mirrors and fire protection technologies.
FAQ
What is the current stock price of Gentex (GNTX)?
What is the market cap of Gentex (GNTX)?
What does Gentex Corporation specialize in?
When was Gentex Corporation founded?
What are some of Gentex’s recent achievements?
What percentage of Gentex's revenue is from the automotive sector?
What is Gentex's PLACE Smart Smoke/CO Detection system?
How did Gentex perform financially in Q1 2024?
What is the Full Display Mirror (FDM) by Gentex?
Where is Gentex Corporation headquartered?
What are the strategic goals of Gentex Corporation?
What new product did Gentex introduce at the CES 2024?
