GNTX Earnings Prediction
The chart below shows how GNTX performed 10 days before and after its earnings report, based on data from the past quarters. Typically, GNTX sees a -0.12% change in stock price 10 days leading up to the earnings, and a +0.82% change 10 days following the report. On the earnings day itself, the stock moves by +0.05%. This data can give you a slight idea of what to expect for the next quarter's release.
GNTX Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
541.64M
-8.06%
-10.99%
Gross Margin
32.54%
-5.74%
-2.95%
Operating Margin
18.21%
-19.21%
-11.86%
Net Margin
16.19%
-18.44%
-19.61%
EPS
0.39
-22.00%
-26.42%
No Data Available
GNTX Earnings Analysis
Gentex Corp Corporation (GNTX.O) Earnings Conference Call
Positive
Record Net Sales Growth: For calendar year 2024, the company's net sales were $2,310,000,000 an increase of 1% compared to net sales of $2,300,000,000 last year, representing the highest annual sales in company history despite light vehicle production that decreased this year by more than 4% in the company's primary markets.
Gross Margin Improvement: For calendar year 2024, the gross margin was 33.3% compared to a gross margin of 33.2% last year, indicating a slight improvement in gross margin despite challenges.
FDM Shipment Increase: For the year, FDM shipments increased 21 percent to 2,960,000 units, which more than offset a 6% decrease in automotive mirror unit shipments compared to 2023.
Share Repurchase Activity: The company repurchased 604,000 shares of its common stock during the Q4 at an average of $30.54 per share, and for the year ended December 31, 2024, the company repurchased 6,400,000 shares at an average price of $32.20 per share for a total of $206,100,000.
Tax Rate Improvement: The effective tax rate for calendar year 2024 was 14.3% compared to an effective tax rate of 15.2% last year, reflecting improved tax efficiency.
Negative
Q4 Sales Decline: Net sales for Q4 2024 decreased by 8% to $541.6 million from $589.1 million in Q4 2023, resulting in a revenue shortfall of approximately $45 million to $50 million compared to initial forecasts.
Gross Margin Decline: Gross margin in Q4 2024 was 32.5%, down from 34.5% in Q4 2023, primarily due to lower sales levels and a weaker product mix, which prevented overhead cost leverage.
Operating Expenses Surge: Operating expenses increased by 22% to $86.5 million in Q4 2024, driven by staffing and engineering-related professional fees, along with an $8.9 million intangible asset impairment charge.
Net Income Decline: Net income for Q4 2024 was $87.7 million, a decline from $116.9 million in Q4 2023, with earnings per diluted share dropping to $0.39 from $0.50 year-over-year.
Net Income Decline: For the full year 2024, net income decreased to $404.5 million from $428.4 million in 2023, with earnings per diluted share falling to $1.76 from $1.84.
