Gentex Reports First Quarter 2020 Financial Results

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Go back to Gentex Reports First Quarter 2020 Financial Results

Gentex Corp (GNTX) Reports In-Line Q1 EPS, Revenues Beat; Lowers FY20 Revenue Guidance, Withdraws FY21 Revenue Outlook

April 24, 2020 8:02 AM EDT

Gentex Corp (NASDAQ: GNTX) reported Q1 EPS of $0.36, in-line with the analyst estimate of $0.36. Revenue for the quarter came in at $453.76 million versus the consensus estimate of $438.66 million.

1st Quarter 2020 Summary

Net Sales decline of 3% quarter over quarter versus a 24% quarter over quarter reduction in global light vehicle production volumesNovel coronavirus pandemic (COVID-19) negatively impacted first quarter net sales by approximately 9%Gross margin of 34.5% for the first quarter7.0 million shares repurchased during the quarter

"For the first two months of the first quarter, top-line revenue... More