Gentex (NASDAQ: GNTX) posts record Q2 EPS and raises 2026 margins
Rhea-AI Filing Summary
Gentex Corporation reported second-quarter 2026 net sales of $651.3 million, a 1% decrease from a year earlier, while expanding gross margin to 37.0% from 34.2%. GAAP income from operations rose to $141.3 million and net income attributable to Gentex increased 19% to $114.7 million. Diluted EPS was $0.54, with adjusted diluted EPS of $0.58. Automotive net sales were $560.1 million, down from $578.1 million, while Premium Audio grew to $51.7 million and Other Products to $39.4 million. Total auto-dimming mirror units shipped declined 10% to 10,416 thousand, including a 26% drop in international interior mirrors.
The company repurchased 2.7 million shares for $66.0 million in the quarter and 5.9 million shares for $137.6 million year-to-date, with 29.9 million shares still available under its plan. For 2026, Gentex guides consolidated revenue to $2.65–$2.75 billion, gross margin of 34.5%–35.5%, operating expenses of $405–$415 million, a tax rate of 16%–17%, and capital expenditures of $115–$125 million. For 2027, it continues to expect revenue between $2.80 and $2.90 billion, against a backdrop of slightly declining global light vehicle production in 2026 and flat levels in 2027.
Positive
- Record second-quarter EPS and earnings growth: diluted EPS reached $0.54, up 26% from $0.43, with net income attributable to Gentex rising 19% to $114.7 million and gross margin improving to 37.0% from 34.2%.
- Improved profitability guidance and capital discipline: 2026 gross margin outlook raised to 34.5%–35.5%, operating expense guidance reduced to $405–$415 million, and capital expenditure guidance lowered to $115–$125 million while maintaining 2026 revenue guidance and 2027 revenue target of $2.80–$2.90 billion.
Negative
- Automotive softness and mirror unit declines: automotive net sales fell to $560.1 million from $578.1 million, total auto-dimming mirror shipments decreased 10% year over year, international interior mirror units declined 26%, and China revenue was approximately 20% lower quarter over quarter amid persistent tariff-related pressures.
Filing Explained
The July 24 update raises 2026 gross-margin guidance and lowers its operating-expense and capital-expenditure ranges; revenue guidance is unchanged.
This Form 8-K reports Gentex’s second-quarter results and updated 2026 guidance as of
The structural change is to the company’s stated operating outlook.
Gross-margin guidance increased to
These ranges are management’s forward-looking expectations, not second-quarter results or completed spending.
The filing says approximately
At
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Net Sales Q2 2026: $651.3 million
Gross Margin Q2 2026: 37.0%
Net Income Attributable to Gentex Q2 2026: $114.7 million
+5 more
8 metrics
Net Sales Q2 2026
$651.3 million
Three months ended June 30, 2026
Gross Margin Q2 2026
37.0%
Up from 34.2% in Q2 2025
Net Income Attributable to Gentex Q2 2026
$114.7 million
Up 19% compared to Q2 2025
Diluted EPS Q2 2026 (GAAP)
$0.54
Record second-quarter EPS; previously $0.43 in Q2 2025
Automotive Net Sales Q2 2026
$560.1 million
Down from $578.1 million in Q2 2025
Total Auto-Dimming Mirror Units Q2 2026
10,416 thousand
Three months ended June 30, 2026; down 10% year over year
Share Repurchases Q2 2026
$66.0 million
2.7 million shares repurchased at an average price of $24.48
2026 Revenue Guidance
$2.65–$2.75 billion
Full-year 2026 consolidated revenue outlook as of July 24, 2026
Key Terms
IEEPA tariff reimbursements, Inventory Purchase Price Step-up Adjustment Pursuant to ASC 805, Redeemable Non-controlling Interest, Auto-dimming mirror units, +2 more
6 terms
IEEPA tariff reimbursements regulatory
"gross margin was favorably impacted by approximately $18 million of IEEPA tariff reimbursements"
Inventory Purchase Price Step-up Adjustment Pursuant to ASC 805 financial
"Inventory Purchase Price Step-up Adjustment Pursuant to ASC 805"
Redeemable Non-controlling Interest financial
"Redeemable Non-controlling Interest | 2,832,783"
A redeemable non-controlling interest is a minority ownership stake in a subsidiary that can be sold back to or bought out by the parent company or subsidiary at a predetermined time or under certain conditions. For investors, it matters because this claim can act like a future cash obligation or potential dilution, changing the parent’s reported equity, net income allocation, and near‑term cash needs—much like a few partners in a small business who can force the owner to buy them out.
Auto-dimming mirror units technical
"GENTEX CORPORATION AUTO-DIMMING MIRROR SHIPMENTS (Thousands)"
Mobility Global light vehicle production forecast market
"Light Vehicle Production ( Mobility Global mid-July light vehicle production forecast)"
Adjusted Net Income financial
"Adjusted Net Income and Adjusted Earnings per Share are presented as supplemental measures"
Adjusted net income is a company's reported profit after removing unusual, one-time, or non-operational items so the number reflects the business’s regular earning power. Investors use it like a cleaned-up scorecard — similar to judging a player’s season performance without a few fluke games — to compare companies or assess trends without being misled by rare gains or losses that won’t affect future cash flow.
Earnings Snapshot
Net sales: $651.3 million · Guidance included
three months ended June 30, 2026
Net sales
$651.3 million
1% decrease compared to Q2 2025
Gross margin
37.0%
up from 34.2% in Q2 2025
Net income attributable to Gentex
$114.7 million
up 19% compared to $96.0 million in Q2 2025
Diluted EPS (GAAP)
$0.54
increase of 26% compared to $0.43 in Q2 2025
Adjusted diluted EPS (non-GAAP)
$0.58
up from $0.50 in Q2 2025
Guidance
For 2026, Gentex guides revenue to $2.65–$2.75 billion, gross margin to 34.5%–35.5%, operating expenses to $405–$415 million, tax rate to 16%–17%, capex to $115–$125 million, and expects 2027 revenue of $2.80–$2.90 billion.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What were Gentex (GNTX) net sales and earnings for Q2 2026?
Gentex reported Q2 2026 net sales of $651.3 million, down 1% year over year. Net income attributable to Gentex was $114.7 million, up 19%, and diluted EPS was $0.54, with adjusted diluted EPS of $0.58.
How did Gentex (GNTX) gross margin change in Q2 2026?
Gentex achieved a gross margin of 37.0% in Q2 2026, up from 34.2% a year earlier. The improvement reflected approximately $18 million of IEEPA tariff reimbursements reducing cost of goods sold and favorable product mix, partially offset by higher commodity costs.
What 2026 and 2027 guidance did Gentex (GNTX) provide?
For 2026, Gentex guides revenue of $2.65–$2.75 billion, gross margin of 34.5%–35.5%, operating expenses of $405–$415 million, tax rate of 16%–17%, and capex of $115–$125 million. For 2027, it expects revenue of $2.80–$2.90 billion.
How did Gentex (GNTX) automotive and non-automotive segments perform in Q2 2026?
Automotive net sales were $560.1 million, down from $578.1 million, pressured by lower light vehicle production and base mirror shipments. Premium Audio revenue grew 16% to $51.7 million, and Other Products rose 12% to $39.4 million, supported by aerospace and biometric products.
How are global light vehicle production trends affecting Gentex (GNTX)?
Using the mid-July 2026 Mobility Global forecast, total light vehicle production is expected to decline about 2% in Q3 2026 and 3% for full-year 2026. Gentex notes weakness in core markets and about a 20% quarter-over-quarter revenue decline in China.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report: July 24, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | |||||||||
| (Address of principal executive offices) | (Zip Code) | ||||||||||
Registrant's telephone number, including area code: (616 ) 772-1800
_____________________________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Section 2. Financial Information
Item 2.02 Results of Operations and Financial Condition.
(a)On July 24, 2026 Gentex Corporation issued a news release announcing financial results for the second quarter ended June 30, 2026. A copy of the news release is attached as Exhibit 99.1 to the Form 8-K.
The information in this Form 8-K and the attached Exhibit shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.
Section 9. Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
(d) Exhibit
99.1 – News Release Dated July 24, 2026.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: July 24, 2026
GENTEX CORPORATION
(Registrant)
By /s/ Kevin C. Nash
Kevin C. Nash
Vice President - Finance and Chief Financial Officer
EXHIBIT INDEX
99.1 News Release Dated July 24, 2026
Exhibit 99.1
GENTEX REPORTS SECOND QUARTER 2026 FINANCIAL RESULTS
ZEELAND, MI -- (GLOBE NEWSWIRE - July 24, 2026) - Gentex Corporation (NASDAQ: GNTX), a leading supplier of digital vision, connected car, dimmable glass, fire protection technologies, medical devices, and consumer electronics, today reported financial results for the three and six months ended June 30, 2026.
Second Quarter 2026 Highlights
•Net sales of $651.3 million
•Gross margin of 37.0%, an increase of 280 basis points from second quarter 2025 and 320 basis points from first quarter 2026.
•Income from operations (GAAP) $141.3 million; adjusted income from operations (non-GAAP) $141.7 million
•Net income attributable to Gentex (GAAP) $114.7 million; adjusted net income (non‑GAAP) $122.9 million
•Earnings per diluted share attributable to Gentex (GAAP) $0.54; adjusted earnings per diluted share (non‑GAAP) $0.58
•Share repurchases: 2.7 million shares repurchased during the quarter for a total of $66.0 million
Financial Summary
For the second quarter of 2026, the Company reported net sales of $651.3 million, a 1% decrease compared to net sales of $657.9 million in the second quarter of 2025. Automotive revenue declined approximately 3% quarter over quarter, reflecting lower revenue in Europe, Japan/Korea, and China, which was mostly offset by strength in North America. In addition, revenue from the Company's Other Products category provided meaningful growth, led by a 16% quarter over quarter increase in Premium Audio revenue to $51.7 million, while Aerospace, Biometrics, Fire Protection, and Automotive Aftermarket revenue collectively increased by approximately 12% quarter over quarter.
"Our second quarter results demonstrate the importance of our strategy to grow through technology, product mix, and diversification," said Steve Downing, President and CEO. "While total mirror unit shipments and revenues came in approximately 3% and 5% below our beginning-of-quarter forecast,
respectively, our results benefited from strong North American performance, higher content per vehicle in Europe, and continued growth from our non-automotive product lines. In Europe, new DMS and ICMS launches continued to gain traction during the quarter, helping limit the impact of a 26% quarter over quarter decline in international interior mirror unit shipments. Since the beginning of the tariff wars, we have continued to be impacted by pressure in China, where revenue declined approximately 20% quarter over quarter. Outside of automotive, Premium Audio revenue increased approximately 16% quarter over quarter, while our Other Products category collectively grew approximately 12% in the same period. In total, non-automotive revenue was approximately 14% of the Company's total revenue for the quarter. These results reinforce the benefits of our diversification strategy and our confidence in the long-term opportunities to expand both our technology portfolio and revenue base, inside automotive and in other markets."
For the second quarter of 2026, the Company's gross margin was 37.0%, compared to a gross margin of 34.2% for the second quarter of 2025, representing a 280 basis-point increase over the second quarter of last year. When compared with the second quarter of 2025, the Company's gross margin was favorably impacted by approximately $18 million of IEEPA tariff reimbursements received during the quarter that reduced cost of goods sold and favorable product mix, which were partially offset by commodity cost increases and the reduction in overall sales levels, compared to the second quarter of last year. “We delivered very strong gross margin performance during the second quarter, on both a quarter over quarter and sequential basis,” commented Downing. “Of the approximately $38 million of IEEPA tariff reimbursements received during the quarter, approximately $18 million reduced cost of goods sold and favorably impacted gross margin. Beyond that benefit, gross margin also improved sequentially by approximately 50 basis points from the first quarter of 2026, despite lower automotive revenue, ongoing non-IEEPA tariff costs, and significantly higher precious metals costs. The improvement was driven by favorable product mix, disciplined operational execution, and improved profitability within the Other Products categories.”
Consolidated operating expenses during the second quarter of 2026 were $99.7 million, compared to operating expenses of $106.8 million in the second quarter of 2025. The decrease was primarily due to prior year severance costs. On a non-GAAP basis, adjusted operating expenses were
$99.3 million in the second quarter of 2026, compared to $97.5 million in the second quarter of 2025. "The second quarter highlighted the strength of our teams and our ability to execute across a broad range of strategic growth initiatives," said Gentex COO and CTO Neil Boehm. "We continue to support a growing number of advanced technology launches, including FDM, DMS, ICMS, and dimmable devices, while maintaining a disciplined focus on cost management. As these technologies gain more traction, we believe the Company's investments in innovation, automation, and operational efficiency position us to support our future growth initiatives, while effectively managing operating expenses."
Income from operations for the second quarter of 2026 was $141.3 million, up 19% compared to income from operations of $118.5 million for the second quarter of 2025. On a non-GAAP basis, Gentex adjusted income from operations was $141.7 million in the second quarter of 2026, compared to $130.3 million in the second quarter of 2025.
Total other loss was $4.5 million during the second quarter of 2026, compared to a loss of $3.0 million in the second quarter of 2025. The quarter over quarter increase was primarily driven by credit loss reserves related to certain loans receivable and impairment charges on equity and other technology investments, partially offset by higher investment income and gains on asset sales.
During the second quarter of 2026, the Company had an effective tax rate of 16.5%, compared to an effective tax rate of 17.2% during the second quarter of 2025.
Net income attributable to Gentex for the second quarter of 2026 was $114.7 million, up 19% compared to $96.0 million in the second quarter of 2025. Non-GAAP net income attributable to Gentex was $122.9 million in the second quarter of 2026, compared to $110.9 million in the second quarter of 2025.
Earnings per diluted share attributable to Gentex for the second quarter of 2026 were $0.54, compared to earnings per diluted share of $0.43 for the second quarter of 2025. On a non-GAAP basis, adjusted earnings per diluted share attributable to Gentex were $0.58 for the second quarter of 2026, compared to $0.50 for the second quarter of 2025. “While revenue during the quarter was below our forecast, our disciplined approach to managing the business delivered record second-quarter earnings per share of $0.54, an increase of 26% compared to the second quarter of 2025. Our strategy remains consistent: find new opportunities for growth despite the difficult market conditions, continue to expand
and stabilize gross margins, tightly manage operating expenses, and deploy capital in a disciplined manner. We believe this approach will continue to drive earnings growth, strong cash generation, and long-term shareholder value, while we are also actively investing in the largest number of new products, technologies, and markets in the Company's history," said Downing.
Segment Revenue
Automotive
Automotive net sales were $560.1 million in the second quarter of 2026, down from $578.1 million in the second quarter of 2025. The quarter over quarter decrease primarily reflects lower light vehicle production and reduced base auto-dimming mirror unit shipments. Despite these headwinds, favorable product mix, new technology launches, and continued content gains with customers were able to partially offset the decline.
Premium Audio
Net sales from the Premium Audio category were $51.7 million in the second quarter of 2026, compared to $44.5 million in the second quarter of 2025, an increase of approximately 16%. Growth was driven primarily by strong performance from the Powered Systems and Onkyo brands, supported by new product introductions and continued demand across premium audio categories.
Other Products
Net sales from the Other Products category, which includes aerospace products, fire protection devices, medical technologies, biometric solutions and automotive aftermarket products, were $39.4 million, which was a 12% increase compared to the second quarter of 2025. This growth was primarily driven by strong performance in aerospace products, as well as continued growth in biometric and accessory product revenues. These gains were partially offset by lower automotive aftermarket sales.
Share Repurchases
During the second quarter of 2026, the Company repurchased 2.7 million shares of its common stock at an average price of $24.48 per share, for a total of $66.0 million. Year-to-date, the Company has repurchased 5.9 million shares for a total of $137.6 million, at an average price of $23.13 per share. As of June 30, 2026, the Company has approximately 29.9 million shares remaining available for repurchase pursuant to its previously announced share repurchase plan. The Company intends to continue to
repurchase additional shares of its common stock in the future in support of the previously disclosed capital allocation strategy, but share repurchases will vary from time to time and will take into account macroeconomic issues, market trends, and other factors that the Company deems appropriate.
Future Estimates
The Company’s light vehicle production assumptions for the third quarter of 2026 and calendar years 2026 and 2027 are based on the mid-July 2026 Mobility Global outlook for North America, Europe, Japan/Korea, and China. Based on this outlook, global light vehicle production is expected to decline approximately 2% in the third quarter of 2026, compared to the same prior-year period and approximately 3% for the full year 2026, compared to 2025. While global light vehicle production is currently expected to be relatively flat in 2027, the Company expects continued weakness in the Company’s primary automotive markets of North America, Europe, and Japan/Korea with any forecasted growth coming from emerging markets. Forecasted vehicle production volumes for the third quarter of 2026 and calendar years 2026 and 2027 are shown below.
| Light Vehicle Production ( Mobility Global mid-July light vehicle production forecast) | ||||||||||||||||||||||||||||||||
| (in Millions) | ||||||||||||||||||||||||||||||||
| Region | Q3 2026 | Q3 2025 | % Change | Calendar Year 2027 | Calendar Year 2026 | Calendar Year 2025 | 2027 vs 2026 % Change | 2026 vs 2025 % Change | ||||||||||||||||||||||||
| North America | 3.87 | 3.97 | (3) | % | 15.02 | 15.06 | 15.27 | — | % | (1) | % | |||||||||||||||||||||
| Europe | 3.85 | 3.87 | (1) | % | 16.88 | 16.90 | 17.05 | — | % | (1) | % | |||||||||||||||||||||
| Japan and Korea | 2.92 | 2.93 | — | % | 11.42 | 11.95 | 12.07 | (4) | % | (1) | % | |||||||||||||||||||||
| China | 8.11 | 8.36 | (3) | % | 31.93 | 31.58 | 33.10 | 1 | % | (5) | % | |||||||||||||||||||||
| Total Light Vehicle Production | 18.75 | 19.13 | (2) | % | 75.25 | 75.49 | 77.49 | — | % | (3) | % | |||||||||||||||||||||
Based on actual results through the first six months of 2026, the updated Mobility Global light vehicle production forecast, and the Company’s expectations for its Automotive, Premium Audio, and Other Products category, the Company is updating certain elements of its full-year 2026 guidance as noted below. The updated guidance reflects the anticipated impact of all known tariffs effective as of July 24, 2026.
2026 Annual Guidance (as of July 24, 2026)
•Consolidated Revenue: $2.65 – $2.75 billion (no change)
•Gross Margin: 34.5% – 35.5% (previously 34% - 35%)
•Operating Expenses (excluding severance and impairments): $405 – $415 million (previously $410 - $420m)
•Tax Rate: 16% – 17% (previously 16% -18%)
•Capital Expenditures: $115 – $125 million (previously $125 - $140 million)
•Depreciation & Amortization: $100 – $110 million (no change)
2027 Revenue Guidance
Based on the mid-July 2026 Mobility Global light vehicle production forecast and the Company's expectations for Automotive, Premium Audio, and Other Products revenue, the Company continues to expect calendar-year 2027 revenue to range between $2.80 and $2.90 billion.
Closing Remarks
"As we entered 2026, we knew geopolitical challenges would continue to pressure our business in China, and we also expected ongoing headwinds within our base mirror business. As a result, we anticipated that revenue growth would be more subdued than what we've historically delivered. Despite those challenges, the execution of our team has been some of the best I have seen during my time leading this Company. Across the organization, we continue to launch, develop, invent, and commercialize new technologies at a pace unmatched in our history, while maintaining a relentless focus on profitability, operational efficiency, and capital discipline. Concurrently, we have worked hard together with the VOXX team to improve VOXX's financial performance and we are well on our way to achieve the profitability targets we established post-acquisition. Similar to the Gentex team, the VOXX and PAC teams have recently developed several new product categories and developed business relationships with attractive long-term growth potential, to become meaningful contributors to our overall profitability only fifteen months after acquisition. Together, we are proving to be formidable competitors in our relevant industries. Our continued focus on quality, operational excellence, gross margin expansion, operating expense management, and capital allocation have enabled us to deliver strong earnings performance
despite a challenging environment. Looking ahead, we believe the Company is well positioned to have a solid second half of 2026 with growth continuing into 2027 and 2028. Many of the investments we have made over the last several years in new products and technologies, including dimmable visors and sunroofs, our fourth-generation FDM, DMS/ICMS, advanced manufacturing capabilities, and other market expansion opportunities, are expected to begin contributing more meaningfully to revenue growth. When combined with our continued focus on operational excellence and financial discipline, we believe these investments will drive future growth to create significant long-term shareholder value," concluded Downing.
Safe Harbor for Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The statements contained in this communication that are not purely historical are forward-looking statements. Forward-looking statements give the Company’s current expectations or forecasts of future events. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “future,” “goal,” “guidance,” “hope,” “intend,” "likely", “may,” “opinion,” “optimistic,” “plan,” “poised,” “predict,” “project,” “should,” “strategy,” “target,” “will,” "work to," and variations of such words and similar expressions. Such statements are subject to risks and uncertainties that are often difficult to predict and beyond the Company’s control and could cause the Company’s results to differ materially from those described. These risks and uncertainties include, without limitation: changes in general industry or regional market conditions, including the impact of inflation; changes in consumer and customer preferences for our products (such as cameras replacing mirrors and/or autonomous driving); our ability to be awarded new business; continued uncertainty in pricing negotiations with customers and suppliers; loss of business from increased competition; changes in strategic relationships; customer bankruptcies or divestiture of customer brands; fluctuation in vehicle production schedules (including the impact of customer employee strikes); changes in product mix; raw material and other supply shortages; labor shortages, supply chain constraints and disruptions; our dependence on information systems; higher raw material, fuel, energy and other costs; unfavorable fluctuations in currencies or interest rates
in the regions in which we operate; costs or difficulties related to the integration and/or ability to maximize the value of any new or acquired technologies and businesses; changes in regulatory conditions; warranty and recall claims and other litigation and customer reactions thereto; possible adverse results of pending or future litigation or infringement claims; changes in tax laws; import and export duty and tariff rates and uncertainties in or with the countries with which we conduct business; negative impact of any governmental investigations and associated litigation, including securities litigation relating to the conduct of our business; and force majeure events. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made.
The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law or the rules of the NASDAQ Global Select Market. Accordingly, any forward-looking statement should be read in conjunction with the additional information about risks and uncertainties identified under the heading “Risk Factors” in the Company’s latest Form 10-K and Form 10-Q filed with the SEC, which risks and uncertainties include tariffs and supply chain constraints that have affected, are affecting, and will continue to affect, general economic and industry conditions, customers, suppliers, and the regulatory environment in which the Company operates. Includes content supplied by Mobility Global Light Vehicle Production Forecast of July 16, 2026 (http://www.gentex.com/forecast-disclaimer).
Second Quarter Conference Call
A conference call related to this news release will be simulcast live on the Internet beginning at 9:30 a.m. ET today, July 24, 2026. Participants who wish to ask questions may register for the call at https://register-conf.media-server.com/register/BI04159734f80b4251b4b548ae7f443098. It is recommended that participants join 10 minutes prior to the event start, although they may register ahead of the call and dial in at any time during the call. Participants may listen to the call via audio streaming https://edge.media-server.com/mmc/p/wmvxyyhw. A webcast replay will be available approximately 24
hours after the conclusion of the call at http://ir.gentex.com/events-and-presentations/upcoming-past-events.
About the Company
Founded in 1974, Gentex Corporation (The NASDAQ Global Select Market: GNTX) is a leading supplier of digital vision, connected car, dimmable glass, fire protection technologies, medical devices, and consumer electronics. Visit the Company’s web site at www.gentex.com.
Contact Information:
Gentex Investor & Media Contact
Josh O'Berski
616.931.3505
Exhibit 99.1
GENTEX CORPORATION
AUTO-DIMMING MIRROR SHIPMENTS
(Thousands)
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||||||||||||||
| 2026 | 2025 | % Change | 2026 | 2025 | % Change | ||||||||||||||||||||||||||||||
| North American Interior Mirrors | 2,349 | 2,221 | 6 | % | 4,621 | 4,470 | 3 | % | |||||||||||||||||||||||||||
| North American Exterior Mirrors | 1,627 | 1,524 | 7 | % | 3,028 | 2,895 | 5 | % | |||||||||||||||||||||||||||
| Total North American Mirror Units | 3,976 | 3,746 | 6 | % | 7,649 | 7,365 | 4 | % | |||||||||||||||||||||||||||
| International Interior Mirrors | 3,928 | 5,313 | (26) | % | 8,438 | 10,453 | (19) | % | |||||||||||||||||||||||||||
| International Exterior Mirrors | 2,511 | 2,517 | — | % | 5,182 | 5,300 | (2) | % | |||||||||||||||||||||||||||
| Total International Mirror Units | 6,439 | 7,830 | (18) | % | 13,620 | 15,753 | (14) | % | |||||||||||||||||||||||||||
| Total Interior Mirrors | 6,277 | 7,534 | (17) | % | 13,059 | 14,923 | (12) | % | |||||||||||||||||||||||||||
| Total Exterior Mirrors | 4,138 | 4,041 | 2 | % | 8,210 | 8,194 | — | % | |||||||||||||||||||||||||||
| Total Auto-Dimming Mirror Units | 10,416 | 11,575 | (10) | % | 21,269 | 23,118 | (8) | % | |||||||||||||||||||||||||||
Note: Percent change and amounts may not total due to rounding.
Exhibit 99.1
GENTEX CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
| (Unaudited) | (Unaudited) | ||||||||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
| Net Sales | 651,299,705 | 657,858,210 | 1,326,742,831 | 1,234,631,300 | |||||||||||||||||||
| Cost of Goods Sold | 410,301,978 | 432,567,307 | 857,118,190 | 817,606,810 | |||||||||||||||||||
| Gross Profit | 240,997,727 | 225,290,903 | 469,624,641 | 417,024,490 | |||||||||||||||||||
| Engineering, Research & Development | 49,259,001 | 51,471,277 | 100,911,620 | 97,395,641 | |||||||||||||||||||
| Selling, General & Administrative | 50,037,461 | 48,515,355 | 99,829,295 | 78,448,360 | |||||||||||||||||||
| Impairment Charges | — | — | 2,800,000 | — | |||||||||||||||||||
| Severance Expense | 362,871 | 6,784,136 | 1,085,413 | 9,673,248 | |||||||||||||||||||
| Operating Expenses | 99,659,333 | 106,770,768 | 204,626,328 | 185,517,249 | |||||||||||||||||||
| Income from Operations | 141,338,394 | 118,520,135 | 264,998,313 | 231,507,241 | |||||||||||||||||||
| Other Income/(Loss) | (4,509,704) | (3,049,996) | (10,122,061) | (2,409,520) | |||||||||||||||||||
| Income (Loss) Before Income Taxes | 136,828,690 | 115,470,139 | 254,876,252 | 229,097,721 | |||||||||||||||||||
| Income Tax Provision | 22,644,919 | 19,819,689 | 42,271,422 | 38,573,226 | |||||||||||||||||||
| Net Income (Loss) | 114,183,771 | 95,650,450 | 212,604,830 | 190,524,495 | |||||||||||||||||||
| Less: Net Income (Loss) attributable to non-controlling interest | 505,646 | (389,134) | 539,730 | (389,134) | |||||||||||||||||||
| Net Income (Loss) Attributable to Gentex Corporation | $ | 114,689,417 | $ | 96,039,584 | $ | 213,144,560 | $ | 190,913,629 | |||||||||||||||
Earnings Per Share Attributable to Gentex Corporation(1) | |||||||||||||||||||||||
| Basic | $ | 0.54 | $ | 0.43 | $ | 0.99 | $ | 0.85 | |||||||||||||||
| Diluted | $ | 0.54 | $ | 0.43 | $ | 0.99 | $ | 0.85 | |||||||||||||||
| Cash Dividends Declared per Share | $ | 0.12 | $ | 0.12 | $ | 0.24 | $ | 0.24 | |||||||||||||||
(1) Earnings Per Share has been adjusted to exclude the portion of net income allocated to participating securities as a result of share-based payment awards. | |||||||||||||||||||||||
Exhibit 99.1
GENTEX CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
| June 30, 2026 | December 31, 2025 | ||||||||||
| (Unaudited) | (Note) | ||||||||||
| ASSETS | |||||||||||
| Cash and Cash Equivalents | $ | 233,444,229 | $ | 145,645,715 | |||||||
| Short-Term Investments | 9,366,704 | 5,386,566 | |||||||||
| Accounts Receivable, net | 386,338,964 | 368,517,569 | |||||||||
Inventories, net | 518,950,411 | 516,253,617 | |||||||||
| Other Current Assets | 101,183,924 | 92,631,001 | |||||||||
| Total Current Assets | 1,249,284,232 | 1,128,434,468 | |||||||||
| Plant and Equipment - Net | 780,173,903 | 790,935,378 | |||||||||
| Goodwill | 360,849,822 | 357,211,919 | |||||||||
| Long-Term Investments | 238,487,553 | 272,975,939 | |||||||||
| Intangible Assets, net | 184,618,279 | 189,341,387 | |||||||||
Deferred Tax Asset | 112,638,362 | 108,338,592 | |||||||||
| Patents and Other Assets, net | 91,729,143 | 81,355,151 | |||||||||
| Total Other Assets | 988,323,159 | 1,009,222,988 | |||||||||
| Total Assets | $ | 3,017,781,294 | $ | 2,928,592,834 | |||||||
| LIABILITIES AND SHAREHOLDERS' INVESTMENT | |||||||||||
| Current Liabilities | $ | 423,470,023 | $ | 387,542,969 | |||||||
| Other Non-current Liabilities | 52,468,099 | 49,209,006 | |||||||||
| Deferred Income Taxes | 909,631 | 908,922 | |||||||||
Redeemable Non-controlling Interest | 2,832,783 | 3,102,213 | |||||||||
| Shareholders' Investment | 2,538,100,758 | 2,487,829,724 | |||||||||
| Total Liabilities & Shareholders' Investment | $ | 3,017,781,294 | $ | 2,928,592,834 | |||||||
Note: The condensed consolidated balance sheet at December 31, 2025 has been derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.
Exhibit 99.1
GENTEX CORPORATION AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP MEASURES
(Unaudited)
In this press release, the Company has provided information regarding certain non-GAAP financial measures, which are reconciled to their closest GAAP financial measure in the following schedules. Use of the term "adjusted" or "excluding" in connection with a financial measure identifies and reflects a non-GAAP financial measure.
Beginning in the first quarter of 2026, the Company revised its non-GAAP presentation to include Adjusted Other (Loss) Income. As a result, prior-period non-GAAP measures presented herein have been revised to conform to the current presentation. Management believes the revised presentation enhances period-over-period comparability and provides investors with a more consistent view of the Company's performance. These revisions affect only the presentation of non-GAAP financial measures and do not affect the Company's previously reported GAAP results.
Non-GAAP Financial Measures: The Company has presented Adjusted Operating Expenses, Adjusted Income from Operations, and Adjusted Other (Loss) Income as supplemental measures of the Company's performance. Current quarter Adjusted Operating Expenses, Adjusted Income from Operations, and Adjusted Other (Loss) Income exclude impairment charges, acquisition related costs, and severance costs set forth in the table below.
Exhibit 99.1
(Unaudited) | |||||||||||||||||
| Three Months Ended June 30, | |||||||||||||||||
| Consolidated 2026 | Consolidated 2025 | ||||||||||||||||
Gross Profit - GAAP | $ | 240,997,727 | $ | 225,290,903 | |||||||||||||
| Inventory Purchase Price Step-up Adjustment Pursuant to ASC 805 | — | 2,498,442 | |||||||||||||||
Adjusted Gross Profit - (Non-GAAP) | $ | 240,997,727 | $ | 227,789,345 | |||||||||||||
Gross Margin - GAAP | 37.0 | % | 34.2 | % | |||||||||||||
Adjusted Gross Margin - (Non-GAAP) | 37.0 | % | 34.6 | % | |||||||||||||
Operating Expenses - GAAP | $ | 99,659,333 | $ | 106,770,768 | |||||||||||||
Less: | |||||||||||||||||
Acquisition Related Costs | — | 2,473,051 | |||||||||||||||
Severance Costs | 362,871 | 6,784,136 | |||||||||||||||
Adjusted Operating Expenses - (Non-GAAP) | $ | 99,296,462 | $ | 97,513,581 | |||||||||||||
Income from Operations - GAAP | $ | 141,338,394 | $ | 118,520,135 | |||||||||||||
Less: | |||||||||||||||||
| Inventory Purchase Price Step-up Adjustment Pursuant to ASC 805 | — | 2,498,442 | |||||||||||||||
Acquisition Related Costs | — | 2,473,051 | |||||||||||||||
Severance Costs | 362,871 | 6,784,136 | |||||||||||||||
Adjusted Income from Operations - (Non-GAAP) | $ | 141,701,265 | $ | 130,275,764 | |||||||||||||
Other (Loss) Income - GAAP | $ | (4,509,704) | $ | (3,049,996) | |||||||||||||
Less: | |||||||||||||||||
Impairment Charge - Technology Investment | (9,423,773) | (6,182,000) | |||||||||||||||
Adjusted Other (Loss) Income - (Non-GAAP) | $ | 4,914,069 | $ | 3,132,004 | |||||||||||||
Exhibit 99.1
Adjusted Net Income and Adjusted Earnings per Share: Adjusted Net Income and Adjusted Earnings per Share are presented as supplemental measures of the Company's performance. Adjusted Net Income is defined as Net Income adjusted for impairment charges, acquisition related costs, and severance costs during the second quarter of 2026 and second quarter of 2025. Adjusted Earnings per Share is defined as Adjusted Net Income divided by weighted average diluted shares outstanding.
(Unaudited) | |||||||||||||||||
| Three Months Ended June 30, | |||||||||||||||||
| 2026 Consolidated | 2025 Consolidated | ||||||||||||||||
Net Income Attributable to Gentex Corporation - GAAP | $ | 114,689,417 | $ | 96,039,584 | |||||||||||||
Inventory purchase price step-up adjustments pursuance to ASC 805, net of tax | — | 2,068,710 | |||||||||||||||
Acquisition Related Costs, net of tax | — | 2,047,686 | |||||||||||||||
Severance Costs, net of tax | 302,816 | 5,617,265 | |||||||||||||||
| Impairment Charges - Technology Investment, net of tax | 7,864,154 | 5,118,696 | |||||||||||||||
Net Income (Loss) Attributable to Gentex Corporation - (Non-GAAP) | $ | 122,856,387 | $ | 110,891,941 | |||||||||||||
Adjusted Earnings Per Share: | |||||||||||||||||
Basic | $ | 0.58 | $ | 0.50 | |||||||||||||
Diluted | $ | 0.58 | $ | 0.50 | |||||||||||||
The Company believes that the presentation of these non-GAAP financial measures provides insight into the Company's core performance and trends with respect to the same. Management of the Company similarly uses such non-GAAP financial measures in assessing the business internally.