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Gentherm Inc. (NASDAQ: THRM) is a global leader in thermal management and pneumatic comfort technologies, primarily serving the automotive and medical industries. The company is renowned for its innovative thermal solutions, which include heating, cooling, and ventilating devices designed to enhance comfort and energy efficiency. With a robust patent portfolio and a dedicated team of world-class scientists and engineers, Gentherm is committed to continuous innovation and improvement in thermal technology.
Gentherm's core business is divided into two main segments: Automotive and Medical. The Automotive segment, which constitutes the majority of the company's revenue, offers a wide range of climate comfort systems, battery performance solutions, cable systems, and automotive electronics and software. Gentherm's products in this segment include Climate Control Seats, heated seats, steering wheels, armrests, and other interior components. Their technology is highly regarded by major automotive manufacturers, making Gentherm a preferred supplier for many industry leaders.
The Medical segment focuses on patient temperature management solutions. Gentherm's medical products include systems for whole-body warming and cooling, such as the Blanketrol® and Astopad® systems, which are essential in maintaining normothermia and providing localized therapy. The company's recent partnerships, such as the expanded collaboration with SourceMark Medical, further solidify its position in the healthcare market.
Gentherm's latest innovation, WellSense, was unveiled at the 2024 Consumer Electronics Show (CES). This technology integrates heating, cooling, lumbar, and massage comfort effectors to enhance wellness and well-being in vehicles. WellSense leverages science-based physiology research and offers over-the-air (OTA) feature upgrades, positioning Gentherm at the forefront of health, wellness, comfort, and energy efficiency in the automotive industry.
Financially, Gentherm has shown strong performance, with record revenues and adjusted EBITDA in both Automotive and Medical segments for 2023. The company also secured significant new automotive awards, including the scalable ClimateSense® software for General Motors' future vehicle architectures. Gentherm continues to expand its global footprint with new facilities in Tangier, Morocco, and Monterrey, Mexico, as part of its Fit-for-Growth 2.0 initiatives aimed at driving revenue growth and margin expansion.
Gentherm (NASDAQ: THRM), a leader in automotive thermal management and medical patient temperature management systems, announced a schedule update for their participation in the 2024 Baird Global Industrial Conference. President and CEO Phil Eyler's fireside chat will now begin at 7:55 am CST on Tuesday, November 12, 2024. The 30-minute presentation will be available via live webcast, with a replay accessible for 90 days on Gentherm's website investor relations section.
Gentherm (NASDAQ:THRM) announced its planned CEO succession, effective January 1, 2025. Bill Presley, currently Vice-Chairman and COO of Aptiv PLC, will succeed current President and CEO Phil Eyler as President, CEO, and Board Director. Eyler will remain as an advisor through June 30, 2025. The succession follows a year-long planned transition process. Under Eyler's seven-year leadership, Gentherm implemented its Focused Growth strategy, repositioned business lines, and achieved record business awards and revenue. The company is also in the process of selecting a new CFO, expected to be announced soon.
Gentherm (THRM) reported Q3 2024 financial results with product revenues of $371.5 million, up 1.5% year-over-year. The company achieved $0.51 GAAP diluted EPS compared to $0.48 in Q3 2023, and $0.75 adjusted EPS versus $0.64 last year. Automotive revenues increased 1.1%, outperforming light vehicle production in key markets by 800 basis points. The company secured record Q3 automotive new business awards of $600 million. Gentherm updated its 2024 guidance, now expecting product revenues of $1.45B-$1.47B and adjusted EBITDA margin near mid-point of 12.5%-13.5%.
Gentherm (NASDAQ: THRM), a global leader in thermal management and pneumatic comfort technologies for the automotive industry and medical patient temperature management systems, has announced its participation in the 2024 Baird Global Industrial Conference in Chicago. Phil Eyler, President and CEO, will engage in a fireside chat on Tuesday, November 12, 2024, starting at 6:45 am CST for approximately 30 minutes.
The event will feature a live webcast of the presentation, with a replay available for 90 days following the event on Gentherm's website. Interested parties can access the webcast through the Events page in the Investor Relations section at www.gentherm.com. For further information, investors can contact Gregory Blanchette, while media inquiries should be directed to Melissa Fischer.
Gentherm (NASDAQ: THRM), the global market leader in innovative thermal management and pneumatic comfort technologies for the automotive industry and medical patient temperature management systems, has announced its schedule for the 2024 third quarter results release and conference call.
The company will report its financial results on Wednesday, October 30, 2024, followed by a conference call at 8 am (ET) on the same day. Investors can join the call using the toll-free number 1-877-407-4018 (US) or 1-201-689-8471 (International) with the Conference ID 13749599.
A live webcast and one-year archived replay of the call will be available on Gentherm's website. A telephonic replay will be accessible until November 13, 2024, using specific dial-in numbers and the passcode 13749599.
Gentherm (NASDAQ:THRM), a leader in automotive thermal management and medical patient temperature management systems, announced the resignation of its CFO, Matteo Anversa, effective September 1, 2024. Anversa is leaving to become CFO at Logitech International after five and a half years with Gentherm. CEO Phil Eyler praised Anversa's contributions, including implementing the Fit-For-Growth strategy and executing the Alfmeier acquisition.
Anversa expressed gratitude for his time at Gentherm, highlighting achievements such as record revenues, expanded profitability, and significant new business wins. The company has initiated a CFO succession process led by the CEO and will provide updates as appropriate.
Gentherm (NASDAQ:THRM) reported strong Q2 2024 results with record quarterly revenue of $375.7 million, up 0.9% year-over-year. GAAP diluted EPS was $0.60, compared to a loss of $0.05 in Q2 2023. Adjusted diluted EPS rose to $0.66 from $0.58 last year. The company secured $660 million in automotive new business awards.
Key highlights include:
- Automotive revenues increased 0.7% YoY (1.8% excluding forex impact)
- Medical revenue grew 8.3% YoY
- Gross margin improved to 25.7% from 23.6% last year
- Adjusted EBITDA increased 17.7% to $49.9 million
Gentherm maintained its full-year 2024 guidance, expecting product revenues at the low end of $1.5B-$1.6B range and Adjusted EBITDA margin rate above the mid-point of 12.5%-13.5% range.
Gentherm (NASDAQ: THRM), a leader in automotive thermal management and medical patient temperature control, announced its participation in the 2024 J.P. Morgan Auto Conference in New York City. Phil Eyler, President and CEO, and Matteo Anversa, Executive VP of Finance, CFO, and Treasurer, will engage in a fireside chat on Thursday, August 8, 2024, starting at 8:45 a.m. ET for approximately 35 minutes.
A live audio webcast of the presentation will be available, with a replay accessible for 30 days after the event on Gentherm's website investor relations section. For further information, investors can contact Gregory Blanchette, while media inquiries should be directed to Melissa Fischer.
Gentherm (NASDAQ: THRM), a global leader in thermal management and pneumatic comfort technologies for the automotive industry and medical patient temperature management systems, announced that it will report its financial results for the second quarter of 2024 on Wednesday, July 31, 2024.
A conference call to discuss these results will be held at 8 am (ET) on the same day. Investors can join the call via toll-free or international dial-in numbers, and a webcast will be available on the Gentherm website.
A telephonic replay of the call will be accessible approximately two hours after the call and will remain available until August 14, 2024.
Gentherm (NASDAQ: THRM), a leader in automotive and medical thermal management technologies, has been named a top North American Supplier by Honda. Of the 746 suppliers serving Honda's 13 North American plants, Gentherm was one of 52 recognized for excellence in quality, delivery, and value. Specifically, Gentherm received the Excellence in Value award at Honda's annual Supplier Conference in Columbus, Ohio. This award highlights Gentherm's commitment to improving efficiency and cost-effectiveness. President and CEO Phil Eyler expressed enthusiasm for the ongoing partnership with Honda.
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