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.
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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.
Gentherm (NASDAQ:THRM) will report its third-quarter 2021 financial results on October 28, 2021, at 6 a.m. (ET). A conference call to discuss these results is scheduled for the same day at 8 a.m. (ET). Interested parties can access the call via toll-free or international numbers, or through the webcast available on Gentherm's Investor Relations website. A telephonic replay will be available shortly after the call, lasting until November 11, 2021.
Gentherm (NASDAQ: THRM) has been awarded the 2021 Automotive News PACEpilot Innovations to Watch award for its INTU Thermal Comfort with ClimateSense technology, developed in partnership with Lear. This award recognizes pre-commercial innovations in the automotive sector. The INTU system utilizes advanced thermal management along with intelligent software to enhance passenger comfort while achieving significant energy savings—up to 69% in cold and 34% in hot weather compared to traditional HVAC systems. This collaboration aims at advancing electric vehicle capabilities by improving energy efficiency.
Gentherm (NASDAQ: THRM) announced significant executive shifts effective October 1, 2021. Jaymi Wilson has been promoted to Senior Vice President of Global Sales, Marketing, and Corporate Communications, succeeding Paul Giberson, who departs after 15 years. Wilson is tasked with expanding Gentherm’s customer base and financial performance. Yijing Brentano takes on the role of Senior Vice President of Strategy, Corporate Development, and Investor Relations, enhancing corporate strategy and investor ties. Both leaders bring extensive industry experience to their new roles.
Gentherm (NASDAQ: THRM) has invested in Forciot, a Finnish developer of touch, motion, and force sensor technology. This investment aims to enhance Gentherm's automotive and electronics solutions, particularly in improving vehicle safety and passenger comfort. Forciot's sensors can be integrated into vehicle interiors, potentially replacing traditional buttons and enhancing Advanced Driver Assistance Systems (ADAS). The collaboration is set to enable Forciot to scale operations for mass production, aligning with Gentherm's strategy to address evolving automotive industry challenges.
Gentherm (NASDAQ: THRM) will have its Executive Vice President and CFO, Matteo Anversa, participate in a virtual fireside chat at the CL King’s 19th Annual Best Ideas Conference on September 14, 2021, starting at 9:30 am ET. A live audio webcast will be accessible, with a replay available for 45 days on Gentherm’s website. The company specializes in innovative thermal management technologies, serving various sectors, including automotive and medical markets. More details can be found on their website.