Gentex Q1 Net Income Rises

(RTTNews) - Gentex (GNTX) reported first quarter net income of $108.2 million, an 11% increase compared to the first quarter of 2023. Earnings per share was $0.47, a 12% increase from a year ago. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.47, for the quarter. Analysts' estimates typically exclude special items.

Net sales were $590.2 million, a 7% increase compared to the first quarter of 2023. Analysts on average had estimated $598.01 million in revenue. Automotive net sales were $577.6 million, a 7% increase.

The company said it is making no changes to previously provided guidance for calendar year 2024. Based on the current forecast for light vehicle production for calendar year 2025, the company still expects calendar year 2025 revenue of approximately $2.65 billion - $2.75 billion.

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