Gentex Q3 sales rise 6% to record $608.5 million; 2024 revenue outlook cut
Gentex reported record third-quarter 2024 net sales of $608.5 million, up 6% from a year earlier, and diluted earnings per share of $0.53, up 18%. The company lowered its calendar 2024 revenue and gross margin guidance, citing weaker light vehicle production, and said its gross margin target will likely not be reached until 2025.
Key points
- Net sales were $608.5 million, up from $575.8 million in Q3 2023, while light vehicle production in the primary markets fell 6%.
- Net income was $122.5 million, up 17%, and diluted EPS was $0.53 versus $0.45, helped by $14.5 million in non-cash gains on tech investments.
- 2024 revenue guidance was lowered to $2.35-$2.40 billion from $2.40-$2.50 billion, and gross margin guidance to 33.5%-34.0% from 34%-34.5%.
- The company repurchased 3.2 million shares at an average price of $30.16 and has about 10.1 million shares left under its plan.
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 25, 2024.
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