Gentherm (THRM) Tops Q4 EPS by 16c
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Gentherm (NASDAQ: THRM) reported Q4 EPS of $0.71, $0.16 better than the analyst estimate of $0.55. Revenue for the quarter came in at $236.5 million versus the consensus estimate of $237.01 million.
"Overall, Gentherm performed well during the quarter as we saw continued revenue growth of 11% and substantial cash flow generation. Of particular note is the performance and continued progress of our investments in our existing core markets and new growth areas,"" said President and CEO Daniel R. Coker.
Mr. Coker, continued, "Looking more specifically at our various business segments, our automotive segment was the main driver of our revenue growth, where we experienced a 10% increase in revenue from seat heaters, 2% growth in CCS and 12% growth in steering wheel heaters. In our CCS business, as in the prior few quarters, we saw continued near-term headwinds with growth slowing due to customers\' timing decisions and product mix. CSZ also performed well, contributing substantially to our total revenue growth. Within this business, our Hemotherm blood warming device did especially well, as demand is at an all-time high and our product is outperforming the competition. GPT revenue, which was down 15%, continued to come under pressure from weakness in the energy market as capital investments from GPT\'s natural gas pipeline and exploration and production customers remain subdued. As this market normalizes, and development begins again in earnest, we expect a return to growth."
Mr. Coker concluded, "As we look ahead to 2017 and beyond, we remain focused on growth while deploying our capital where it can generate the most value for our shareholders. This means staying ahead of the curve technologically to protect our position as the leader in innovative thermal management solutions that are unmatched in the marketplace. We will continue to invest in our business for long-term growth to further enhance profitability. Two examples of our focus on growth that we were very excited to see begin operating during the quarter are our new CSZ facility expansion, which was designed to allow for meaningful future growth, and our new technology center."
For earnings history and earnings-related data on Gentherm (THRM) click here.
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