Welcome to our dedicated page for Gentherm news (Ticker: THRM), a resource for investors and traders seeking the latest updates and insights on Gentherm stock.
Gentherm Inc. reports developments in thermal management and pneumatic comfort technologies for automotive and medical markets. Its Automotive products include Climate Control Seats (CCS®), Climate Control Interiors (CCI™), Lumbar and Massage Comfort Solutions, Valve Systems, cable systems, battery performance solutions, and automotive electronics and software systems. Its Medical business covers patient temperature management systems and related device technology.
Recurring news includes quarterly and annual results, conference participation, automotive new-business activity, shareholder voting matters, and medical-device regulatory updates. Company announcements also cover ThermAffyx™ Patient Safety System, an integrated patient warming and securement system submitted through the FDA 510(k) pathway, and communications activity around Gentherm Medical products.
Gentherm (NASDAQ:THRM) reported a 57% increase in net income for full-year 2021, achieving record automotive revenue of $1.004 billion. Fourth-quarter product revenues were $248.2 million, down 14.1% year-over-year, attributed to global supply chain challenges. GAAP diluted EPS for Q4 was $0.60, compared to $1.02 in the prior year. For 2022, Gentherm anticipates product revenues between $1.12 billion and $1.22 billion, supported by the recovery of semiconductor supply and growth in light vehicle production.
Gentherm (NASDAQ:THRM), a leader in thermal management technologies, will announce its financial results for Q4 and year-end 2021 on February 17, 2022, at 6 a.m. ET. A conference call will follow at 8 a.m. ET to discuss the results. Investors can join via a toll-free number or international dial-in. An archived replay will be accessible after the call. Gentherm specializes in automotive and medical temperature control solutions and has a global workforce exceeding 11,000 across multiple countries.
Gentherm (NASDAQ: THRM) has committed to donate $250,000 over five years to the GreenLight Fund Detroit, supporting initiatives aimed at alleviating poverty in the area. This annual contribution of $50,000 will bolster existing programs and introduce four new proven initiatives. Among the beneficiaries are the New Teacher Center and the Center for Employment Opportunities, both focusing on education and employment. Gentherm's Senior VP emphasized the importance of community support, while GreenLight Fund leadership expressed gratitude for the partnership aimed at fostering economic mobility.
Gentherm (NASDAQ:THRM), a leader in thermal management technologies, announced that Phil Eyler, President and CEO, will engage in a fireside chat at the 20th Annual J.P. Morgan Tech/Auto Forum in Las Vegas on January 5, 2022, at 3:05 PM PT. A live audio webcast will be available, with a replay accessible for 30 days on Gentherm's Investor Relations page. Gentherm specializes in advanced heating and cooling solutions for automotive and medical applications, employing over 11,000 people globally.
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Gentherm (NASDAQ: THRM) announced the formation of the Gentherm Technology Advisory Council, aimed at advancing its thermal management technologies. Comprising four industry leaders, the council will focus on Electric Vehicles (EV), Advanced Driver-Assistance Systems (ADAS), and IoT. Led by CTO Matt Fisch, the council aims to guide Gentherm's technology roadmap and foster strategic partnerships, enhancing innovation and meeting customer needs in the evolving automotive market.
Gentherm (NASDAQ:THRM) reported third-quarter financial results for 2021, with product revenues of $243.4 million, down 6.2% from $259.5 million a year ago. Adjusted earnings per share decreased to $0.51 from $0.91. Despite these declines, the company secured $260 million in new automotive awards, with 40% allocated to electric vehicles. Gross margin fell to 28.5% due to supply chain issues, while R&D expenses increased 13.9%. Gentherm updated its full-year guidance for product revenues to between $1.02 billion and $1.05 billion.
Gentherm (NASDAQ: THRM) announced its participation in two upcoming investor conferences in November 2021. Phil Eyler, President and CEO, along with Matteo Anversa, CFO, will present at the Gabelli Funds 45th Annual Auto Symposium on November 1, 2021, at 3:15 pm PT in Las Vegas. Additionally, Eyler will present virtually at the Baird Industrial Conference on November 9, 2021, at 7:55 am ET. A replay will be available on Gentherm's website for 45 days following the event. Gentherm focuses on innovative thermal management technologies across various sectors.
Gentherm (NASDAQ: THRM) has partnered with Datang NXP Semiconductors to develop an innovative cell connection system aimed at enhancing battery module control in the automotive industry. This technology integrates single-cell monitoring ICs with Gentherm's foil-based conductors, replacing traditional sensor cable harnesses. A prototype has been delivered to a prominent automotive battery maker, marking a significant step towards improving electric vehicle battery safety and performance.