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 Incorporated (THRM) delivers cutting-edge thermal management solutions for automotive climate control and medical patient care systems. This dedicated news hub provides investors and industry professionals with timely updates on the company's technological advancements and market position.
Access authoritative coverage of Gentherm's latest developments including product innovations, strategic partnerships, and financial performance. Our curated collection features press releases on climate control system enhancements, medical temperature management breakthroughs, and operational expansions across global markets.
Key updates include earnings announcements, R&D milestones in thermal efficiency technologies, and manufacturing initiatives supporting automotive electrification trends. Stay informed about patent filings, leadership changes, and sustainability efforts within Gentherm's dual-focused business strategy.
Bookmark this page for streamlined access to verified information about THRM's progress in pneumatic comfort systems and healthcare thermal regulation. Check regularly for objective reporting on developments impacting both automotive OEM partnerships and medical device applications.
Gentherm (THRM) reported Q3 2024 financial results with product revenues of $371.5 million, up 1.5% year-over-year. The company achieved $0.51 GAAP diluted EPS compared to $0.48 in Q3 2023, and $0.75 adjusted EPS versus $0.64 last year. Automotive revenues increased 1.1%, outperforming light vehicle production in key markets by 800 basis points. The company secured record Q3 automotive new business awards of $600 million. Gentherm updated its 2024 guidance, now expecting product revenues of $1.45B-$1.47B and adjusted EBITDA margin near mid-point of 12.5%-13.5%.
Gentherm (NASDAQ: THRM), a global leader in thermal management and pneumatic comfort technologies for the automotive industry and medical patient temperature management systems, has announced its participation in the 2024 Baird Global Industrial Conference in Chicago. Phil Eyler, President and CEO, will engage in a fireside chat on Tuesday, November 12, 2024, starting at 6:45 am CST for approximately 30 minutes.
The event will feature a live webcast of the presentation, with a replay available for 90 days following the event on Gentherm's website. Interested parties can access the webcast through the Events page in the Investor Relations section at www.gentherm.com. For further information, investors can contact Gregory Blanchette, while media inquiries should be directed to Melissa Fischer.
Gentherm (NASDAQ: THRM), the global market leader in innovative thermal management and pneumatic comfort technologies for the automotive industry and medical patient temperature management systems, has announced its schedule for the 2024 third quarter results release and conference call.
The company will report its financial results on Wednesday, October 30, 2024, followed by a conference call at 8 am (ET) on the same day. Investors can join the call using the toll-free number 1-877-407-4018 (US) or 1-201-689-8471 (International) with the Conference ID 13749599.
A live webcast and one-year archived replay of the call will be available on Gentherm's website. A telephonic replay will be accessible until November 13, 2024, using specific dial-in numbers and the passcode 13749599.
Gentherm (NASDAQ:THRM), a leader in automotive thermal management and medical patient temperature management systems, announced the resignation of its CFO, Matteo Anversa, effective September 1, 2024. Anversa is leaving to become CFO at Logitech International after five and a half years with Gentherm. CEO Phil Eyler praised Anversa's contributions, including implementing the Fit-For-Growth strategy and executing the Alfmeier acquisition.
Anversa expressed gratitude for his time at Gentherm, highlighting achievements such as record revenues, expanded profitability, and significant new business wins. The company has initiated a CFO succession process led by the CEO and will provide updates as appropriate.
Gentherm (NASDAQ:THRM) reported strong Q2 2024 results with record quarterly revenue of $375.7 million, up 0.9% year-over-year. GAAP diluted EPS was $0.60, compared to a loss of $0.05 in Q2 2023. Adjusted diluted EPS rose to $0.66 from $0.58 last year. The company secured $660 million in automotive new business awards.
Key highlights include:
- Automotive revenues increased 0.7% YoY (1.8% excluding forex impact)
- Medical revenue grew 8.3% YoY
- Gross margin improved to 25.7% from 23.6% last year
- Adjusted EBITDA increased 17.7% to $49.9 million
Gentherm maintained its full-year 2024 guidance, expecting product revenues at the low end of $1.5B-$1.6B range and Adjusted EBITDA margin rate above the mid-point of 12.5%-13.5% range.
Gentherm (NASDAQ: THRM), a leader in automotive thermal management and medical patient temperature control, announced its participation in the 2024 J.P. Morgan Auto Conference in New York City. Phil Eyler, President and CEO, and Matteo Anversa, Executive VP of Finance, CFO, and Treasurer, will engage in a fireside chat on Thursday, August 8, 2024, starting at 8:45 a.m. ET for approximately 35 minutes.
A live audio webcast of the presentation will be available, with a replay accessible for 30 days after the event on Gentherm's website investor relations section. For further information, investors can contact Gregory Blanchette, while media inquiries should be directed to Melissa Fischer.
Gentherm (NASDAQ: THRM), a global leader in thermal management and pneumatic comfort technologies for the automotive industry and medical patient temperature management systems, announced that it will report its financial results for the second quarter of 2024 on Wednesday, July 31, 2024.
A conference call to discuss these results will be held at 8 am (ET) on the same day. Investors can join the call via toll-free or international dial-in numbers, and a webcast will be available on the Gentherm website.
A telephonic replay of the call will be accessible approximately two hours after the call and will remain available until August 14, 2024.
Gentherm (NASDAQ: THRM), a leader in automotive and medical thermal management technologies, has been named a top North American Supplier by Honda. Of the 746 suppliers serving Honda's 13 North American plants, Gentherm was one of 52 recognized for excellence in quality, delivery, and value. Specifically, Gentherm received the Excellence in Value award at Honda's annual Supplier Conference in Columbus, Ohio. This award highlights Gentherm's commitment to improving efficiency and cost-effectiveness. President and CEO Phil Eyler expressed enthusiasm for the ongoing partnership with Honda.
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.
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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