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) has commenced shipments of its Bluetooth-enabled automatic-dimming mirror featuring HomeLink integrated buttons to Volkswagen (VWoA). This innovative product is designed to operate various RF and cloud-based smart home devices. HomeLink, the leading car-to-home automation system, is expected to be a popular option for consumers, launching with the 2022 Volkswagen Taos and expanding to other vehicles. Gentex continues to be a key supplier for the automotive industry, enhancing driver safety and convenience with advanced electronic features.
Gentex Corporation (NASDAQ: GNTX) announced that its 2021 Annual Meeting of Shareholders will now be held virtually due to ongoing COVID-19 regulations. The meeting is scheduled for May 20, 2021, at 4:30 p.m. E.T. Shareholders can participate by accessing this link and using their 16-digit control number. The meeting will address voting on nine director elections, the appointment of Ernst & Young LLP as auditors for 2021, and the advisory approval of executive compensation.
Gentex Corporation (NASDAQ: GNTX) reported Q1 2021 net sales of $483.7 million, increasing 7% year-over-year. Gross profit margin improved to 37.9%, a 340 basis point increase, and net income rose 27% to $113.5 million. Earnings per share reached $0.46, a 28% increase. However, production was hampered by part shortages, leading to an estimated $45 million revenue loss. Operating expenses decreased by 4% to $49.6 million. For 2021, Gentex maintains revenue guidance of $1.94 - $2.02 billion amid ongoing supply chain issues.
Gentex Corporation (NASDAQ: GNTX), based in Zeeland, Michigan, will release its First Quarter 2021 financial results on April 23 before market open. The company plans to host a conference call at 9:30 am ET to discuss these results, available to the public via live audio webcast. Interested participants can join using the dial-in number (844) 389-8658 with passcode 8652117. A replay of the webcast will be accessible approximately 24 hours after the event. For more information, visit Gentex's website.
Gentex Corporation (NASDAQ: GNTX) has declared a quarterly cash dividend of $0.12 per share, payable on April 21, 2021. Shareholders of record as of April 9, 2021 will receive this dividend. Gentex, based in Zeeland, Michigan, is a leading supplier of technologies such as automatic-dimming mirrors and fire protection products for the automotive and aviation industries. The company aims to reward its shareholders while continuing to develop innovative solutions in its market.
Gentex Corporation (NASDAQ: GNTX) reported strong financial results for Q4 and the full year 2020. Q4 net sales reached $529.9 million, a 19% increase from Q4 2019, driven by a 42% rise in Full Display Mirror® shipments. Quarterly net income hit a record $143.3 million, marking a 44% year-over-year rise, with earnings per share at $0.58, a 49% increase. Despite an overall annual revenue decline of 9% to $1.68 billion due to reduced global vehicle production, the company forecasts revenue growth for 2021 and 2022, with a guidance range of $1.94 - $2.02 billion for 2021.
Gentex Corporation (NASDAQ: GNTX) has announced its acquisition of innovative nanofiber sensing technology that detects various chemicals, including explosives and volatile organic compounds. This technology, acquired with the Utah-based startup Vaporsens, enhances Gentex's strong position in electro-optical products for automotive, aerospace, and fire protection sectors. The nanofiber sensors offer high sensitivity in detecting chemicals in parts per billion and trillion ranges, opening new applications across multiple industries.
Gentex Corporation (NASDAQ: GNTX) provided an update during CES 2021 regarding its product development, highlighting new partnerships and technology advancements. The company, a supplier of electro-optical products, noted significant growth in its product offerings, including the Full Display Mirror (FDM), which is now shipped to 8 automakers and over 50 vehicle models. Additionally, Gentex announced collaborations with PayByCar and Simplenight to enhance vehicle connectivity and driver experience. The company also continues to innovate in medical technologies and aerospace applications.
Gentex Corporation (NASDAQ: GNTX) has partnered with Simplenight to enhance mobile capabilities for drivers and vehicle occupants. This collaboration aims to provide seamless access to personalized entertainment and lifestyle bookings, integrating with existing connected vehicle technologies. Simplenight’s platform will be incorporated into Gentex's HomeLink systems, enabling real-time bookings for various services. Gentex's CTO highlighted the synergy between both companies, emphasizing the growing demand for mobile commerce in transportation.
Gentex Corporation (NASDAQ: GNTX) announces the release of its fourth quarter and year-end financial results for 2020 on January 29, prior to market opening. The company will hold a conference call at 9:30 AM ET to discuss the results, which will be accessible to the public via a live audio webcast. Participants can join by dialing (844) 389-8658 with passcode 1054528, and a replay will be available approximately 24 hours after the call. This announcement is crucial for investors monitoring Gentex's financial performance amidst evolving market conditions.
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?
