Gentex Full Year 2024 Earnings: Misses Expectations

Gentex (NASDAQ:GNTX) Full Year 2024 Results

Key Financial Results

• Revenue: US$2.31b (flat on FY 2023).
• Net income: US$404.5m (down 4.2% from FY 2023).
• Profit margin: 18% (in line with FY 2023).
• EPS: US$1.77 (down from US$1.84 in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Gentex Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 5.7%.

The primary driver behind last 12 months revenue was the Automotive segment contributing a total revenue of US$2.26b (98% of total revenue). Notably, cost of sales worth US$1.54b amounted to 67% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Research & Development (R&D) costs, amounting to US$181.5m (50% of total expenses). Explore how GNTX's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Auto Components industry in the US.

Performance of the American Auto Components industry.

The company's shares are down 9.0% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We've done some analysis and you can see our take on Gentex's balance sheet.

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