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) 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.
Gentex Corporation (NASDAQ: GNTX) reported Q2 2022 net sales of $463.4 million, an 8% increase from Q2 2021. Gross profit margin was 32.0%, down from 35.4% last year, primarily due to inflationary pressures and lower-than-expected sales. Net income decreased to $72.4 million, or $0.31 per share. The company experienced a sales shortfall of $70-$80 million due to production reductions and component supply shortages. Future guidance indicates potential growth with light vehicle production expected to rise 21% in Q3 2022.
Gentex Corporation (NASDAQ: GNTX), based in Zeeland, Michigan, will release its Q2 2022 financial results on July 22, before market opening. The company will conduct a conference call for investors at 9:30 AM ET to discuss these results. Interested participants can register to receive dial-in information, while a listen-only option is available via a live audio webcast. A replay of the call will be accessible approximately 24 hours later on the company's investor relations website.
Gentex Corporation (NASDAQ: GNTX), based in Zeeland, Michigan, has declared a quarterly cash dividend of $0.12 per share. This dividend will be payable on July 20, 2022, to shareholders who are on record at the close of business on July 8, 2022. The company is known for its advanced technologies in digital vision, connected car systems, dimmable glass, and fire protection.
Gentex Corporation (NASDAQ: GNTX) reported first-quarter 2022 net sales of $468.3 million, down from $483.7 million in Q1 2021, affected by a 5% global decline in light vehicle production. Gross profit margin was 34.3%, a decrease from 37.9% a year ago, due to rising material and labor costs. Net income fell to $87.5 million from $113.5 million in Q1 2021, with EPS at $0.37 compared to $0.46. The company anticipates a 9% increase in light vehicle production for 2022, while navigating ongoing supply chain challenges and inflationary pressures.
Gentex Corporation (NASDAQ: GNTX), based in Zeeland, Michigan, will release its first quarter 2022 financial results on April 22, 2022, before the market opens. A conference call will follow at 9:30 AM ET to discuss the results, which will be accessible to the public via a live audio webcast. Interested participants can join the call by dialing (844) 389-8658 with passcode 9781438. A replay will be available approximately 24 hours post-call on the company's investor relations website.
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