Gentex cuts 2024 revenue and margin guidance; Q2 net income falls to $86.0 million
Gentex reported second-quarter 2024 net sales of $572.9 million, down from $583.5 million a year earlier, and net income of $86.0 million, compared with $109.2 million. The company lowered its 2024 revenue and gross margin guidance, citing weaker light vehicle production and a sales shortfall in June, which reduces its outlook for shareholders.
Key points
- Q2 2024 diluted EPS was $0.37, versus $0.47 in Q2 2023; gross margin was 32.9%, versus 33.1%.
- Other loss of $13.5 million included $18.3 million in non-cash losses on tech investment holdings.
- 2024 revenue guidance cut to $2.40-$2.50 billion from $2.45-$2.55 billion; gross margin guidance cut to 34%-34.5% from 34%-35%.
- 2025 revenue estimate set at approximately $2.6-$2.7 billion.
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 July 26, 2024.
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.