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Gentex Corporation - GNTX STOCK NEWS

Welcome to our dedicated page for Gentex Corporation news (Ticker: GNTX), a resource for investors and traders seeking the latest updates and insights on Gentex Corporation stock.

Gentex Corporation (NASDAQ: GNTX), founded in 1974 and headquartered in Zeeland, Michigan, is a leading global electronics company renowned for its innovative product offerings in the automotive, aerospace, and fire protection industries. The company's core competencies include highly automated electronics, CMOS camera development, vacuum coatings, and glass bending and fabrication, making it a vertically integrated powerhouse in technology innovation.

Originally established to produce smoke-detection equipment, Gentex entered the automotive sector in 1982 with its first glare-control interior mirror and continued to pioneer with electrochromic technology in 1987. Today, automotive revenue constitutes about 98% of Gentex's total revenue, with 2023 sales reaching approximately $2.3 billion and 50.6 million mirrors shipped. The product mix consists of 63% interior and 37% exterior mirrors.

Gentex is a long-time supplier of electro-optical products, providing nearly every major automaker with connected-car technologies and advanced electronic features that enhance driver vision and safety. In the aerospace sector, the company supplies dimmable aircraft windows that optimize passenger experience. Its fire protection segment continues to innovate with products like the PLACE Smart Smoke/CO Detection system, a holistic suite of smart home safety devices.

Recent strategic moves include new R&D activities, collaboration agreements, and acquisitions aimed at diversifying its product lines. At the 2024 Consumer Electronics Show (CES), Gentex showcased groundbreaking advancements across several product categories, including the PLACE Smart Smoke/CO Detection system, ADASKY thermal imaging technology for automotive applications, and driver and in-cabin monitoring systems.

Gentex's latest product, the Full Display Mirror (FDM), integrates advanced cameras and dimmable technology to provide superior rearward visibility and enhanced driver safety. Additionally, its HomeLink Smart Home Solutions bridge the gap between car connectivity and home automation, offering a seamless ecosystem controlled via a single app.

Financially, Gentex reported net sales of $590.2 million for Q1 2024, the highest quarterly sales level in the company's history, driven by strong content growth and increased demand for its advanced features. The company continues to focus on margin recovery and cost optimization, aiming for a gross margin of 35%-36% by the end of 2024.

With a 50-year legacy of innovation and a robust portfolio of technologies, Gentex remains at the forefront of enhancing safety, vision, and connectivity across multiple industries.

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Gentex , a leading supplier of digital vision, connected car, dimmable glass, and fire protection technologies, announced the release date for its second quarter 2024 financial results. The report will be available on July 26, 2024, before the market opens, followed by a conference call at 9:30am ET for the investment community. A live audio webcast will be accessible to the general public. Participants can register in advance to ask questions or join a listen-only webcast. A replay will be available 24 hours post-event.

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Gentex (NASDAQ: GNTX) announced a quarterly cash dividend of $0.12 per share for the second quarter of 2024. This dividend is payable on July 17, 2024, to shareholders of record as of July 5, 2024. Gentex, renowned for its digital vision, connected car, dimmable glass, and fire protection technologies, continues to provide value to its shareholders. The company, founded in 1974 and headquartered in Zeeland, Michigan, supplies advanced products to the automotive and aviation markets as well as the fire protection sector. For more details, visit their websites.

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Gentex (NASDAQ: GNTX) reported record-breaking financial results for the first quarter of 2024, with net sales of $590.2 million, a 7% increase from the same period in 2023. The company achieved a gross profit margin of 34.3%, a 260 basis point increase from the previous year, and reported income from operations of $129.3 million, a 14% increase. Net income reached $108.2 million, an 11% increase, and earnings per diluted share were $0.47, a 12% increase. Gentex attributes its revenue growth to strong content growth, increased take rates of its products, and growth in outside auto-dimming mirror business. Despite lower-than-expected light vehicle production, Gentex exceeded market expectations and remains focused on increasing revenue growth opportunities while reducing dependence on vehicle production. The company's gross margin improved to 34.3% due to cost reductions, higher sales levels, and manufacturing efficiencies. Operating expenses increased by 19% to $72.9 million, primarily driven by R&D investments. Gentex remains confident in its margin recovery plan and expects to reach a 35%-36% gross margin range by the end of 2024. Share repurchases and future forecasts for light vehicle production indicate steady growth and profitability for Gentex in 2024 and 2025.
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Gentex (GNTX) to Release First Quarter 2024 Financial Results, Hosting Conference Call for Investors
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Gentex Corporation (GNTX) declares a quarterly cash dividend of $0.12 per share, payable on April 17, 2024, to shareholders of record on April 5, 2024.
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Gentex Corporation (NASDAQ: GNTX) launches HomeLink Smart Home Solutions at the International Builders’ Show, aiming to integrate car connectivity and home automation. The company partners with Alarm.com to offer a seamless user experience and plans to introduce the HomeLink Smart Home Connector for enhanced control. Gentex expands its product lineup to include smart home packages for new home construction and direct consumer options.
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Gentex Corporation (NASDAQ: GNTX) reported record net sales for the fourth quarter and calendar year 2023, with impressive increases in revenue, gross profit margin, income from operations, net income, and earnings per diluted share. The company also achieved significant improvements in gross margin, despite inflationary cost pressures. Operating expenses increased due to staffing and engineering-related professional fees. The effective tax rate for the fourth quarter of 2023 was 13.9%, leading to a net income of $116.9 million and earnings per diluted share of $0.50. For calendar year 2023, the net sales reached $2.30 billion, representing a 20% increase compared to 2022. Gentex's revenue outperformance in 2023 versus the underlying market was driven by growth in Full Display Mirror® shipments and exterior auto-dimming mirror unit shipments. The Company's revenue guidance for 2024 and 2025 indicates confidence in continued revenue growth. Gentex also plans to focus on gross margin improvement, aiming for a 35 to 36 percent gross margin profile by the end of 2024.
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Solace Power Inc., a global leader in wireless power technology, has been recognized as one of the best places to work in Atlantic Canada in 2024 by Atlantic Business Magazine. This accolade reflects the company's exemplary work environment and HR practices, placing them among the top twenty-four companies in the region.
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Gentex Corporation (GNTX) showcases new developments in technology and innovation at CES 2024, including a soft launch of PLACE, a new residential, smart-home sensing product, and the debut of Gentex partner ADASKY’s thermal imaging solutions with forward- and rearward-facing applications.
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ADASKY (NASDAQ: ADKY) and Gentex to unveil thermal imaging for rear vision in a digital rearview mirror at CES 2024
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FAQ

What does Gentex Corporation specialize in?

Gentex specializes in highly automated electronics, CMOS camera development, vacuum coatings, and glass bending and fabrication, serving the automotive, aerospace, and fire protection industries.

When was Gentex Corporation founded?

Gentex Corporation was founded in 1974.

What are some of Gentex’s recent achievements?

Recent achievements include new R&D activities, strategic acquisitions, collaboration agreements, and showcasing groundbreaking technologies at the 2024 Consumer Electronics Show (CES).

What percentage of Gentex's revenue is from the automotive sector?

Approximately 98% of Gentex's total revenue comes from the automotive sector.

What is Gentex's PLACE Smart Smoke/CO Detection system?

The PLACE Smart Smoke/CO Detection system is a suite of smart home safety devices offering room-specific functionality, blending safety, comfort, and security features controlled via a single app.

How did Gentex perform financially in Q1 2024?

Gentex reported net sales of $590.2 million in Q1 2024, the highest quarterly sales in the company's history, driven by strong content growth and demand for advanced features.

What is the Full Display Mirror (FDM) by Gentex?

The Full Display Mirror (FDM) integrates advanced cameras and dimmable technology to provide superior rearward visibility and enhanced driver safety.

Where is Gentex Corporation headquartered?

Gentex Corporation is headquartered in Zeeland, Michigan.

What are the strategic goals of Gentex Corporation?

Gentex aims to expand its product content, improve profitability, and achieve a gross margin of 35%-36% by the end of 2024 through innovative product development and cost optimization strategies.

What new product did Gentex introduce at the CES 2024?

At CES 2024, Gentex introduced PLACE, a smart home safety product line, and showcased advancements in thermal imaging technology, driver monitoring systems, and dimmable glass technologies.

Gentex Corporation

Nasdaq:GNTX

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7.69B
231.18M
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92.38%
2.23%
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