Gentex Q3 net sales rise 17% to $575.8 million; net income up 44%
Gentex reported third-quarter 2023 net sales of $575.8 million, up 17%, and net income of $104.7 million, up 44%, with diluted earnings per share of $0.45 compared with $0.31 a year earlier. The company kept its 2023 revenue guidance of $2.2 - $2.3 billion unchanged, while trimming its tax rate, capital expenditure, and depreciation and amortization estimates, and management said the fourth quarter will likely be affected by the UAW strikes.
Key points
- Net sales of $575.8 million, up 17% from $493.6 million; auto-dimming mirror unit shipments of 12.6 million, up 10%.
- Net income of $104.7 million, up 44% from $72.7 million; diluted EPS of $0.45 versus $0.31.
- Gross margin of 33.2%, up from 29.8% a year earlier; 2023 gross margin guidance of 32.5% - 33% unchanged.
- Management said the fourth quarter will likely be impacted by the UAW strikes from both a revenue and margin perspective.
The filing
Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 27, 2023.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.