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), 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.
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.