Gentex Reports Second Quarter 2020 Financial Results
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Gentex (GNTX) PT Raised to $32 at Jefferies
July 27, 2020 8:28 AM EDTJefferies analyst David Kelley raised the price target on Gentex (NASDAQ: GNTX) to $32.00 (from $31.00) while maintaining a Buy rating following results.
The analyst commented, "NTX reported below consensus 2Q adj. EPS of $0.02 as sales of $230m tracked in line with our below consensus est.... More
Gentex Corp (GNTX) Misses Q2 EPS by 14c, Revenues Miss
July 24, 2020 8:03 AM EDTGentex Corp (NASDAQ: GNTX) reported Q2 EPS of ($0.02), $0.14 worse than the analyst estimate of $0.12. Revenue for the quarter came in at $229.9 million versus the consensus estimate of $258.6 million.
2nd Quarter 2020 Summary
Net Sales decline of 51% quarter over quarter despite a 69% and 62% quarter over quarter decline in light vehicle production in North America and Europe, respectively.Severance related costs of $8.8 million recognized during the quarter in order to achieve an estimated $35 million in annualized savings.Positive cash flow from operations of $39.2 million despite the significantly lower sales... More