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 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.
Gentherm (NASDAQ:THRM), a leader in thermal management technologies, announced that Phil Eyler, President and CEO, will present at Baird’s 2020 Global Industrial Conference on November 12, 2020, from 7:55 to 8:25 am (ET). This presentation will be available via a live audio webcast and a replay for 45 days on the company’s website. Gentherm specializes in heating and cooling systems for automotive and medical applications, employing over 11,000 people globally.
Gentherm (NASDAQ: THRM) has received FDA 510(k) clearance for its ASTOPAD Patient Warming System, designed to prevent and treat hypothermia during surgical procedures. This system, which has been used internationally since 1989, features a silent electronic controller and proprietary warming blankets with precise temperature settings ranging from 32°C to 39°C. The innovative carbon fiber heating technology ensures enhanced patient safety and reliability, making it suitable for hospital environments. The ASTOPAD system meets all relevant medical safety standards.
Gentherm (NASDAQ:THRM) will announce its third quarter 2020 financial results on October 29, 2020, at 6:00 a.m. ET. The company will host a conference call at 8:00 a.m. ET that same day to discuss the results. Interested parties can join the call via a toll-free number (1-877-407-4018) or an international dial-in number (1-201-689-8471). A live webcast will be available on Gentherm's website, along with a replay accessible after 2 hours of the call until November 12, 2020. Investors can find additional information and contact details in the release.
Gentherm (NASDAQ: THRM) announces that Phil Eyler, President and CEO, will participate in a virtual fireside chat at the CL King’s 18th Annual Best Ideas Conference on September 16, 2020, starting at 9:30 am ET. The session will be accessible via a live audio webcast, with a replay available for 45 days afterward on Gentherm’s Investor Relations website. Gentherm specializes in innovative thermal management technologies for automotive and medical applications, employing over 11,000 people globally.
Gentherm (NASDAQ:THRM) reported a significant decrease in product revenues for Q2 2020, falling 44.1% to $136.1 million, impacted heavily by the COVID-19 pandemic. The company experienced a GAAP diluted loss per share of $0.32, contrasting with a gain of $0.08 in Q2 2019. While operating expenses were reduced by 30%, Adjusted EBITDA plummeted to $0.1 million. Despite these challenges, Gentherm secured $300 million in new automotive business awards and saw growth in its Medical segment due to increased demand for temperature management solutions during the pandemic.
Gentherm (NASDAQ:THRM), a leader in thermal management technologies, will have its President and CEO, Phil Eyler, participating in a virtual fireside chat at the 2020 J.P. Morgan Auto Conference. The event takes place on August 11, 2020, starting at 12:20 pm (ET). A live audio webcast will be available, along with a replay for 45 days on Gentherm's Investor Relations page. The company specializes in heating and cooling technologies across automotive and medical sectors, with more than 11,000 employees globally.
Gentherm (NASDAQ:THRM) will announce its second quarter 2020 financial results on August 4, 2020, at 6:00 a.m. ET. A conference call is scheduled for the same day at 8:00 a.m. ET, providing investors with insights on performance. Interested parties can join by dialing toll-free 1-855-327-6837 or internationally at 1-631-891-4304, using the conference ID 10010358. A live webcast will also be available on Gentherm's Investor Relations website, with a replay accessible until August 18, 2020.
Gentherm (NASDAQ: THRM) has announced a partnership with ThermoAnalytics to enhance software aimed at improving human thermal comfort predictions in vehicles. This year-long collaboration focuses on personalized user experiences by accurately modeling individual comfort levels and incorporating moisture effects from sweat. The new advanced software will be integrated into Gentherm's Climate Control Seat (CCS®) and ClimateSense™ systems, allowing for better thermal management. The software enhancements will initially be available to select customers, reinforcing Gentherm's commitment to innovative thermal solutions.
Gentherm (NASDAQ: THRM) announced the appointment of David Heinzmann to its Board of Directors, effective August 11, 2020. Heinzmann, currently the President and CEO of Littelfuse, brings extensive experience and has previously led significant business transformations. His leadership at Littelfuse resulted in doubling the company's size over five years. Gentherm's leadership expressed confidence that Heinzmann's strategic insights will enhance their Focused Growth strategy and contribute to shareholder value.
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