Welcome to our dedicated page for Gentherm news (Ticker: THRM), a resource for investors and traders seeking the latest updates and insights on Gentherm stock.
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) reported a strong fourth quarter for 2020 with product revenues of $288.9 million, a 25.4% increase from the previous year. GAAP diluted earnings per share rose to $1.02 from $0.66. Despite a full-year revenue decrease of 6.0% to $913.1 million, the company secured automotive business awards totaling $940 million. Gentherm's gross margin improved to 32.1%. The company anticipates product revenues of $1.05 to $1.13 billion for 2021, targeting adjusted EBITDA of 17-19% of revenues.
Gentherm (NASDAQ:THRM) will announce its fourth quarter and year-end 2020 financial results on March 1, 2021, at 6 a.m. (ET). A conference call will follow at 8 a.m. (ET) to discuss the results. Investors can join the call via toll-free or international numbers provided, and a live webcast will be available on Gentherm's website. The replay of the call will be accessible shortly after its conclusion until March 15, 2021. Gentherm specializes in thermal management technologies across various applications, including automotive and medical sectors.
Gentherm (NASDAQ:THRM) announced record quarterly revenue of $288.9 million for Q4 2020, representing a 25.4% increase year-over-year, despite a 6.0% decline in full-year revenue to $913.1 million. The company postponed its Q4 and full-year earnings release due to ongoing audits concerning tax asset valuations. Gentherm secured $440 million in new automotive business awards in Q4 2020, totaling $940 million for the year. Expected product revenues for 2021 range between $1.05 billion and $1.13 billion, with adjusted EBITDA projected at 17%-19% of revenue.
Gentherm (NASDAQ:THRM) will announce its financial results for Q4 and year-end 2020 on February 19, 2021, at 6 a.m. ET, followed by a conference call at 8 a.m. ET. The call can be accessed via a toll-free number or an international dial-in. A live webcast will also be available on Gentherm's Investor Relations website, with a replay accessible for one year. Gentherm develops thermal management technologies for automotive and medical applications, employing over 11,000 people worldwide.
Gentherm (NASDAQ: THRM) announced the appointment of Betsy Meter to its Board of Directors, effective January 8, 2021. Meter, a former Managing Partner at KPMG Michigan, brings extensive experience in accounting and operational issues, particularly in the automotive sector. Her strategic insights and strong industry network are expected to enhance shareholder value as Gentherm pursues its Focused Growth strategy. This appointment marks an important step in promoting diversity within the Board, now comprising three female members.
Gentherm (NASDAQ:THRM) announced the appointment of Steve Fletcher as the new Senior Vice President and General Manager of its Medical business. Fletcher, who has extensive experience in medical technology, will drive profitable growth and product development while aligning with the company's automotive product lines. Gentherm's CEO, Phil Eyler, expressed confidence in Fletcher's ability to enhance the company's leadership in patient temperature management solutions. Fletcher previously held roles at C2 Sense and Thermo Fisher Scientific.
Gentherm (NASDAQ:THRM), a leader in thermal management technologies, announced that CEO Phil Eyler will participate in a virtual fireside chat during the 19th Annual J.P. Morgan Tech/Auto Forum on January 12, 2021, at 12:25 pm PT (3:25 pm ET). A live audio webcast will be available, with a replay accessible for 45 days on Gentherm's Investor Relations page. The company specializes in heating and cooling systems for various applications, including automotive and medical sectors, with over 11,000 employees worldwide.
Gentherm (NASDAQ:THRM), a leader in thermal management technologies, has rescheduled its conference call to discuss Q3 2020 financial results to 11 am ET on October 29, 2020. Investors can dial in using the toll-free number 1-855-327-6837 or access via the webcast available on the company's website. A replay will be available two hours post-call until November 12, 2020 at 11:59 p.m. ET. Gentherm specializes in innovative thermal products across various sectors, employing over 11,000 personnel globally.
Gentherm (NASDAQ:THRM) announced a delay in its conference call scheduled to discuss third-quarter financial results for 2020 due to technical issues with their service provider. The company will inform stakeholders of the new date and time once a solution is in place.
Gentherm specializes in innovative thermal management technologies across various sectors, including automotive and medical applications, and employs over 11,000 people globally.
Gentherm (NASDAQ:THRM) reported a strong financial performance for Q3 2020, with product revenues reaching $259.5 million, an 8.1% year-over-year increase. The company achieved a record quarterly gross margin of 31.8% and adjusted EBITDA of $50.1 million, reflecting a 23.1% increase from the previous year. GAAP diluted earnings per share rose to $0.73, up from $0.48. New business awards in the automotive sector totaled $80 million. Despite macroeconomic uncertainties, Gentherm's performance underscores its strategic growth initiatives in thermal management solutions.
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