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) announced plans to acquire Alfmeier Präzision SE for €177.5 million. This acquisition aims to enhance Gentherm's offerings in automotive comfort, health, and energy efficiency. Alfmeier, generating €232 million in revenue in 2021, specializes in lumbar and massage comfort solutions, leveraging over 200 patents in advanced valve technologies. The merger is expected to create annual run-rate cost savings of approximately $10 million and will bolster Gentherm's presence in the electric vehicle market. The transaction is anticipated to close in Q3 2022.
Gentherm (NASDAQ:THRM), a leader in thermal management technologies, will announce its financial results for Q1 2022 on May 4, 2022, at 6 a.m. ET. A conference call will follow at 8 a.m. ET, providing insights into its performance. Interested parties can join the call via toll-free and international dial-in numbers, or access a live webcast on Gentherm's Investor Relations website. Additionally, a telephonic replay will be available shortly after the call. Gentherm specializes in innovative heating and cooling solutions across automotive and medical markets.
Gentherm (NASDAQ:THRM) reported a 57% increase in net income for full-year 2021, achieving record automotive revenue of $1.004 billion. Fourth-quarter product revenues were $248.2 million, down 14.1% year-over-year, attributed to global supply chain challenges. GAAP diluted EPS for Q4 was $0.60, compared to $1.02 in the prior year. For 2022, Gentherm anticipates product revenues between $1.12 billion and $1.22 billion, supported by the recovery of semiconductor supply and growth in light vehicle production.
Gentherm (NASDAQ:THRM), a leader in thermal management technologies, will announce its financial results for Q4 and year-end 2021 on February 17, 2022, at 6 a.m. ET. A conference call will follow at 8 a.m. ET to discuss the results. Investors can join via a toll-free number or international dial-in. An archived replay will be accessible after the call. Gentherm specializes in automotive and medical temperature control solutions and has a global workforce exceeding 11,000 across multiple countries.
Gentherm (NASDAQ: THRM) has committed to donate $250,000 over five years to the GreenLight Fund Detroit, supporting initiatives aimed at alleviating poverty in the area. This annual contribution of $50,000 will bolster existing programs and introduce four new proven initiatives. Among the beneficiaries are the New Teacher Center and the Center for Employment Opportunities, both focusing on education and employment. Gentherm's Senior VP emphasized the importance of community support, while GreenLight Fund leadership expressed gratitude for the partnership aimed at fostering economic mobility.
Gentherm (NASDAQ:THRM), a leader in thermal management technologies, announced that Phil Eyler, President and CEO, will engage in a fireside chat at the 20th Annual J.P. Morgan Tech/Auto Forum in Las Vegas on January 5, 2022, at 3:05 PM PT. A live audio webcast will be available, with a replay accessible for 30 days on Gentherm's Investor Relations page. Gentherm specializes in advanced heating and cooling solutions for automotive and medical applications, employing over 11,000 people globally.
Gentherm (NASDAQ: THRM) announced the formation of the Gentherm Technology Advisory Council, aimed at advancing its thermal management technologies. Comprising four industry leaders, the council will focus on Electric Vehicles (EV), Advanced Driver-Assistance Systems (ADAS), and IoT. Led by CTO Matt Fisch, the council aims to guide Gentherm's technology roadmap and foster strategic partnerships, enhancing innovation and meeting customer needs in the evolving automotive market.
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