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Gentherm Incorporated - $THRM STOCK NEWS

Welcome to our dedicated page for Gentherm Incorporated news (Ticker: $THRM), a resource for investors and traders seeking the latest updates and insights on Gentherm Incorporated stock.

Gentherm Inc. (NASDAQ: THRM) is a global leader in thermal management and pneumatic comfort technologies, primarily serving the automotive and medical industries. The company is renowned for its innovative thermal solutions, which include heating, cooling, and ventilating devices designed to enhance comfort and energy efficiency. With a robust patent portfolio and a dedicated team of world-class scientists and engineers, Gentherm is committed to continuous innovation and improvement in thermal technology.

Gentherm's core business is divided into two main segments: Automotive and Medical. The Automotive segment, which constitutes the majority of the company's revenue, offers a wide range of climate comfort systems, battery performance solutions, cable systems, and automotive electronics and software. Gentherm's products in this segment include Climate Control Seats, heated seats, steering wheels, armrests, and other interior components. Their technology is highly regarded by major automotive manufacturers, making Gentherm a preferred supplier for many industry leaders.

The Medical segment focuses on patient temperature management solutions. Gentherm's medical products include systems for whole-body warming and cooling, such as the Blanketrol® and Astopad® systems, which are essential in maintaining normothermia and providing localized therapy. The company's recent partnerships, such as the expanded collaboration with SourceMark Medical, further solidify its position in the healthcare market.

Gentherm's latest innovation, WellSense, was unveiled at the 2024 Consumer Electronics Show (CES). This technology integrates heating, cooling, lumbar, and massage comfort effectors to enhance wellness and well-being in vehicles. WellSense leverages science-based physiology research and offers over-the-air (OTA) feature upgrades, positioning Gentherm at the forefront of health, wellness, comfort, and energy efficiency in the automotive industry.

Financially, Gentherm has shown strong performance, with record revenues and adjusted EBITDA in both Automotive and Medical segments for 2023. The company also secured significant new automotive awards, including the scalable ClimateSense® software for General Motors' future vehicle architectures. Gentherm continues to expand its global footprint with new facilities in Tangier, Morocco, and Monterrey, Mexico, as part of its Fit-for-Growth 2.0 initiatives aimed at driving revenue growth and margin expansion.

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Cognizant (NASDAQ: CTSH) has entered an agreement with Gentherm (NASDAQ: THRM) to provide advanced engineering services, including systems engineering, validation, and model-based development. This collaboration will be centered in Hyderabad, India, where Cognizant has established a dedicated delivery and test facility for Gentherm.

The partnership aims to develop next-generation thermal management and pneumatic comfort technologies for the automotive industry, enhancing vehicle experiences and improving operational agility and efficiency. Cognizant will contribute its AI and Cloud Software Engineering expertise to help accelerate Gentherm's product development and market entry.

Both companies emphasize the importance of collaboration to drive innovation and meet the growing demands for software-defined vehicles.

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Gentherm (NASDAQ: THRM) announced a new stock repurchase program worth $150 million, starting after the conclusion of its current program, which has $26 million remaining as of June 4, 2024. This decision reflects confidence in the company's future performance and its ability to generate strong cash flow, according to CEO Phil Eyler. The program's specifics, including the number and timing of shares repurchased, will be determined by management and are subject to various conditions such as market conditions, legal requirements, and debt covenants. The repurchases may be executed through multiple methods, including open market purchases and privately negotiated agreements. The program is flexible and can be modified or terminated by the Board of Directors without prior notice.

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Gentherm (NASDAQ: THRM) has secured its first production vehicle award for its innovative Puls.A™ massage technology, set to feature in a future Hyundai Genesis full-size SUV. The Puls.A system is the world's first pneumatic solution using micro air pressure bursts for deep massage, designed to alleviate pain, tension, and counteract poor posture. It features modular customization and over-the-air upgrades. President and CEO Phil Eyler highlighted the technology's potential in promoting health, wellness, and comfort within vehicles, suggesting promising growth for Gentherm's pneumatic solutions.

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Gentherm (NASDAQ: THRM), a leader in thermal management and pneumatic comfort technologies, announced its participation in the 2024 Baird Consumer, Technology & Services Conference in New York City on June 6, 2024. The company’s President and CEO, Phil Eyler, and Executive Vice President of Finance, CFO, and Treasurer, Matteo Anversa, will engage in a fireside chat starting at 9:40 a.m. ET. The session will last for 30 minutes and will be available via live audio webcast, with a replay accessible for 90 days on Gentherm’s Investor Relations website.

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Gentherm, a global leader in thermal management technologies, won the 2024 Automotive News PACE Innovation Partnership Award for developing ClimateSense with General Motors. This award recognizes collaboration in bringing cutting-edge technology to the automotive industry. Gentherm's ClimateSense will be featured in the 2024 Cadillac CELESTIQ, showcasing energy savings and optimal comfort. The PACE Awards ceremony took place in Detroit, celebrating innovation in automotive technology.

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Gentherm reported its 2024 first quarter financial results, highlighting a 86% increase in net income year over year and $530M in automotive new business awards. The company's product revenues decreased slightly, with automotive revenues also showing a slight decline. However, the company's CEO expressed confidence in strong demand for its solutions and profitability improvements through cost-saving initiatives. Gentherm reaffirmed its 2024 guidance and remains optimistic about revenue growth and margin expansion.

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Gentherm (THRM) to Report First Quarter 2024 Financial Results on April 30, 2024
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Gentherm (THRM) releases its 2023 Sustainability Report, emphasizing ESG initiatives and progress towards emission reduction goals. Key highlights include renewable energy usage, Scope 3 emissions guidance for suppliers, diversity representation growth, and successful integration of acquisitions.
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Gentherm (THRM) achieves record annual revenue of $1.5 billion, secures unprecedented automotive business awards of $2.6 billion, and updates 2024 guidance and 2026 outlook. The company's financial results for the fourth quarter and full year 2023 show significant growth in product revenues, automotive revenues, and earnings per share. Gentherm's strategic initiatives, acquisitions, and innovative technologies position it as a global leader in thermal management and pneumatic comfort technologies for the automotive industry.
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Gentherm (THRM) wins the 2024 BIG Innovation Award for its ClimateSense® Technology, a groundbreaking automotive microclimate comfort solution. The technology offers personalized comfort for each occupant and significant energy savings of up to 69% in cold weather and 34% in hot weather testing.
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FAQ

What are Gentherm's main business segments?

Gentherm's main business segments are Automotive and Medical. The Automotive segment includes climate comfort systems and battery performance solutions, while the Medical segment focuses on patient temperature management systems.

What are some of Gentherm's key products in the automotive segment?

Key products in Gentherm's automotive segment include Climate Control Seats, heated seats, steering wheels, armrests, battery performance solutions, and automotive electronics and software.

What recent innovations has Gentherm introduced?

Gentherm recently introduced WellSense, a technology that integrates heating, cooling, lumbar, and massage comfort effectors to enhance wellness and well-being in vehicles. It was showcased at the 2024 Consumer Electronics Show (CES).

How has Gentherm performed financially in recent years?

Gentherm reported record revenues and adjusted EBITDA for 2023, with significant automotive awards, including a scalable ClimateSense® software award for General Motors' future vehicle architectures.

What is Gentherm's role in the medical industry?

In the medical industry, Gentherm is a leader in patient temperature management systems, offering products like the Blanketrol® and Astopad® systems for whole-body warming and cooling.

Where is Gentherm expanding its global operations?

Gentherm is expanding its global footprint with new facilities in Tangier, Morocco, and Monterrey, Mexico, as part of its Fit-for-Growth 2.0 initiatives.

What is the purpose of Gentherm's Fit-for-Growth 2.0 initiatives?

Gentherm's Fit-for-Growth 2.0 initiatives aim to drive revenue growth and margin expansion through operational improvements, including supplier cost reductions and increased productivity.

Who are Gentherm's key partners in the medical segment?

One of Gentherm's key partners in the medical segment is SourceMark Medical, with whom they have an expanded partnership to supply various patient warming solutions.

What is the significance of Gentherm's WellSense technology?

WellSense is significant for integrating advanced thermal and comfort features in vehicles, enhancing passenger wellness and comfort, and offering scalable solutions for software-defined vehicles.

How does Gentherm support its commitment to innovation?

Gentherm supports its commitment to innovation through continuous R&D, a robust patent portfolio, and a dedicated team of scientists and engineers focused on advancing thermal technologies.

Gentherm Incorporated

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