Gentherm (THRM) Misses Q3 EPS by 3c, Revenues Miss

October 25, 2018 6:14 AM EDT
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Price: $67.97 -1.44%

EPS Growth %: +103.9%

Financial Fact:
Cost of revenue: 14.49M

Today's EPS Names:
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Gentherm (NASDAQ: THRM) reported Q3 EPS of $0.54, $0.03 worse than the analyst estimate of $0.57. Revenue for the quarter came in at $258 million versus the consensus estimate of $265.64 million.

  • Product revenues of $258.9 million increased 9.8% from $235.9 million in the third quarter of 2017
  • GAAP loss per share was $0.01 as compared to GAAP earnings per share of $0.18 for the prior-year period
  • Adjusted earnings per share, excluding impairment loss, restructuring expenses, unrealized currency loss, and expenses and other impacts related to acquisitions (see table herein), was $0.54. Adjusted earnings per share in the prior-year period was $0.36
  • Secured record automotive new business awards totaling approximately $470 million in the quarter, of which 50% represents Climate Control Seat (CCS®)
  • Repurchased $43.9 million of the Company’s stock

Phil Eyler, the company's President and CEO, said “I am excited about the continued progress we are making with our focused growth strategy. Despite the production headwinds in the industry, we achieved organic growth in automotive, outperforming our key markets by over 600 basis points. For the first time in six quarters, we delivered sequential and year-over- year revenue growth in CCS®. We had many exciting launches in the quarter, of note were the BMW X5 and 8 Series, comprised of significant incremental Gentherm content. We secured nearly $1.3 billion of new awards from top auto makers around the world year to date. In just three quarters, we have already surpassed our record of $1.2 billion in awards in 2017. In Medical, we delivered strong double-digit growth both sequentially and year over year.”

Continued Eyler, "In addition, we continue to lower operating expenses through the Fit-for-Growth program, which gives us confidence in achieving the adjusted EBITDA guidance for the year. The momentum we are seeing in new awards and the increased focus on margin position us well to achieve our 2021 outlook.”

For earnings history and earnings-related data on Gentherm (THRM) click here.

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