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 third-quarter financial results for 2021, with product revenues of $243.4 million, down 6.2% from $259.5 million a year ago. Adjusted earnings per share decreased to $0.51 from $0.91. Despite these declines, the company secured $260 million in new automotive awards, with 40% allocated to electric vehicles. Gross margin fell to 28.5% due to supply chain issues, while R&D expenses increased 13.9%. Gentherm updated its full-year guidance for product revenues to between $1.02 billion and $1.05 billion.
Gentherm (NASDAQ: THRM) announced its participation in two upcoming investor conferences in November 2021. Phil Eyler, President and CEO, along with Matteo Anversa, CFO, will present at the Gabelli Funds 45th Annual Auto Symposium on November 1, 2021, at 3:15 pm PT in Las Vegas. Additionally, Eyler will present virtually at the Baird Industrial Conference on November 9, 2021, at 7:55 am ET. A replay will be available on Gentherm's website for 45 days following the event. Gentherm focuses on innovative thermal management technologies across various sectors.
Gentherm (NASDAQ: THRM) has partnered with Datang NXP Semiconductors to develop an innovative cell connection system aimed at enhancing battery module control in the automotive industry. This technology integrates single-cell monitoring ICs with Gentherm's foil-based conductors, replacing traditional sensor cable harnesses. A prototype has been delivered to a prominent automotive battery maker, marking a significant step towards improving electric vehicle battery safety and performance.
Gentherm (NASDAQ:THRM) will report its third-quarter 2021 financial results on October 28, 2021, at 6 a.m. (ET). A conference call to discuss these results is scheduled for the same day at 8 a.m. (ET). Interested parties can access the call via toll-free or international numbers, or through the webcast available on Gentherm's Investor Relations website. A telephonic replay will be available shortly after the call, lasting until November 11, 2021.
Gentherm (NASDAQ: THRM) has been awarded the 2021 Automotive News PACEpilot Innovations to Watch award for its INTU Thermal Comfort with ClimateSense technology, developed in partnership with Lear. This award recognizes pre-commercial innovations in the automotive sector. The INTU system utilizes advanced thermal management along with intelligent software to enhance passenger comfort while achieving significant energy savings—up to 69% in cold and 34% in hot weather compared to traditional HVAC systems. This collaboration aims at advancing electric vehicle capabilities by improving energy efficiency.
Gentherm (NASDAQ: THRM) announced significant executive shifts effective October 1, 2021. Jaymi Wilson has been promoted to Senior Vice President of Global Sales, Marketing, and Corporate Communications, succeeding Paul Giberson, who departs after 15 years. Wilson is tasked with expanding Gentherm’s customer base and financial performance. Yijing Brentano takes on the role of Senior Vice President of Strategy, Corporate Development, and Investor Relations, enhancing corporate strategy and investor ties. Both leaders bring extensive industry experience to their new roles.
Gentherm (NASDAQ: THRM) has invested in Forciot, a Finnish developer of touch, motion, and force sensor technology. This investment aims to enhance Gentherm's automotive and electronics solutions, particularly in improving vehicle safety and passenger comfort. Forciot's sensors can be integrated into vehicle interiors, potentially replacing traditional buttons and enhancing Advanced Driver Assistance Systems (ADAS). The collaboration is set to enable Forciot to scale operations for mass production, aligning with Gentherm's strategy to address evolving automotive industry challenges.
Gentherm (NASDAQ: THRM) will have its Executive Vice President and CFO, Matteo Anversa, participate in a virtual fireside chat at the CL King’s 19th Annual Best Ideas Conference on September 14, 2021, starting at 9:30 am ET. A live audio webcast will be accessible, with a replay available for 45 days on Gentherm’s website. The company specializes in innovative thermal management technologies, serving various sectors, including automotive and medical markets. More details can be found on their website.
Gentherm (NASDAQ:THRM) reported a remarkable financial performance for Q2 2021, showcasing a 95.5% year-over-year increase in product revenues, totaling $266.0 million. This significant growth was driven by a 105.1% rise in automotive revenues. The company secured $400 million in new automotive awards and achieved a GAAP diluted EPS of $0.74, recovering from a loss of $0.32 in the previous year. Despite ongoing supply chain challenges, Gentherm updated its 2021 guidance, predicting product revenues between $1.11 and $1.17 billion.
Gentherm (NASDAQ: THRM) has secured its first production vehicle award for its ClimateSense technology, designed for a new 2024 model electric vehicle from a global automaker. This proprietary technology enhances vehicle energy efficiency and personal thermal comfort by reducing HVAC energy consumption. ClimateSense is projected to provide significant energy savings, with studies indicating up to 69% in cold weather and 34% in hot weather. Gentherm's innovation aligns with the rising demand for electric vehicles, positioning the company favorably in the market.
FAQ
What is the current stock price of Gentherm (THRM)?
What is the market cap of Gentherm (THRM)?
What are Gentherm's main business segments?
What are some of Gentherm's key products in the automotive segment?
What recent innovations has Gentherm introduced?
How has Gentherm performed financially in recent years?
What is Gentherm's role in the medical industry?
Where is Gentherm expanding its global operations?
What is the purpose of Gentherm's Fit-for-Growth 2.0 initiatives?
Who are Gentherm's key partners in the medical segment?
What is the significance of Gentherm's WellSense technology?
How does Gentherm support its commitment to innovation?
