Gentherm Stock Price, News & Analysis

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.

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.

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.

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.

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.