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) 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.
Gentex Corporation (NASDAQ:GNTX) was honored as a 2021 Supplier of the Year by General Motors during a ceremony in Phoenix, recognizing its commitment to innovation and quality in the automotive sector. This marks the 23rd time Gentex has received this award, showcasing its long-standing partnership with GM. The Supplier of the Year award, given to 134 suppliers from 16 countries, highlights Gentex's resilience amid industry challenges. The recognition underscores Gentex's role in supplying advanced technologies, such as automatic-dimming mirrors and connected car solutions.
Gentex Corporation (NASDAQ: GNTX) declared a quarterly cash dividend of $0.12 per share, payable on April 20, 2022, to shareholders on record by the close of business on April 8, 2022. The Zeeland, Michigan-based company focuses on digital vision, connected car technologies, dimmable glass, and fire protection products. Established in 1974, Gentex supplies automatic-dimming rearview mirrors and electronics to the automotive sector, alongside fire protection solutions.
Gentex Corporation (NASDAQ: GNTX) reported financial results for Q4 and the full year 2021, posting net sales of $419.8 million for Q4 and $1.73 billion for the year, a 3% increase year-over-year. Earnings per diluted share rose 6% to $1.50 for the year. The Q4 revenue suffered from a 20% decrease in light vehicle production and component shortages. The gross margin declined to 34.3% from 40.9% in Q4 2020. The company anticipates growth in Full Display Mirror shipments and has set revenue guidance for 2022 between $1.87 - $2.02 billion.
Gentex Corporation (NASDAQ: GNTX) will showcase its advanced driver and in-cabin monitoring solutions at CES 2022 in Las Vegas. The company, a leader in electro-optical products, aims to enhance automotive safety with driver monitoring systems derived from recent acquisitions, including Guardian Optical Technologies and Vaporsens. Highlights include a comprehensive system assessing driver alertness and passenger behavior, as well as innovations in dimmable devices and integrated connectivity solutions. Gentex's booth will feature immersive demonstrations, emphasizing its commitment to evolving automotive technology.
Gentex Corporation (NASDAQ: GNTX) will announce its financial results for the fourth quarter and year-end of 2021 on January 28, 2022, before the market opens. A conference call is scheduled for 9:30 AM ET, accessible to investors and the public through a live audio webcast. The call can be joined via dial-in at (844) 389-8658, using passcode 7756476, and a replay will be available 24 hours later. Investors are encouraged to participate for insights into the company's performance.
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