Oct 22, 6:10 AM ET
Gentherm reported third-quarter 2026 product revenue of $405.1 million, up 4.7% year over year, but swung to a net loss of $2.6 million from net income of $14.9 million a year earlier. The company raised its full-year 2026 product revenue guidance to $1.825 billion to $1.925 billion and adjusted EBITDA guidance to $210 million to $230 million, reflecting the October 1 combination with Modine Performance Technologies.
- Q3 GAAP diluted loss per share was $(0.08) versus $0.49 a year earlier; adjusted diluted EPS was $0.33 versus $0.73.
- Q3 adjusted EBITDA was $45.0 million, or 11.1% of revenue, compared with $49.0 million, or 12.7%, a year earlier.
- Full-year 2026 product revenue guidance rose from $1.55 billion to $1.65 billion (July) to $1.825 billion to $1.925 billion (October).
- The company repurchased $60 million of common stock in October and has about $340 million of authorization remaining.
Read the filing on SEC.gov ↗
Oct 1, 4:47 PM ET
Gentherm completed its combination with Modine's Performance Technologies business on October 1, 2026, in a Reverse Morris Trust transaction. Modine shareholders own about 43.62% of the combined company, and Gentherm shareholders own about 56.38%. The filing also discloses a $250.0 million term loan, guaranteed by Gentherm and secured by substantially all of its assets, plus a $2.07 per share special dividend payable October 7, 2026.
- Modine shareholders received 0.44619 Gentherm shares for each Modine share held at the September 28, 2026 record date, with cash in lieu of fractional shares.
- Gentherm declared a special dividend of $2.07 per share, payable October 7, 2026 to shareholders of record as of September 28, 2026.
- SpinCo borrowed $250.0 million of term loans under a senior secured delayed draw facility with Bank of America, N.A. as administrative agent; Gentherm guarantees the obligations.
- Paul Mascarenas was appointed to the board effective October 1, 2026, increasing its size from 9 to 10 members; Katrin Schatz was named Interim President of Modine Performance Technologies.
Read the filing on SEC.gov ↗
Jul 23, 6:10 AM ET
Gentherm reported second-quarter 2026 product revenue of $416.2 million, up 11.0% from a year earlier, and raised its full-year 2026 guidance. The board also approved a new $400 million stock repurchase program over three years, effective July 27, 2026, replacing the 2024 program, which had $110.1 million remaining. Gross margin fell to 23.2% from 23.9%, and operating cash flow dropped to $2.3 million from $31.7 million.
- Q2 product revenue $416.2 million, up 11.0%; up 9.5% excluding currency effects
- Adjusted diluted EPS $0.75 versus $0.54; GAAP diluted EPS $0.14 versus $0.02
- 2026 product revenue guidance raised to $1.55 billion to $1.65 billion from $1.5 billion to $1.6 billion; adjusted EBITDA raised to $185 million to $200 million from $175 million to $195 million
- New $400 million repurchase program over three years, effective July 27, 2026; replaces 2024 program with $110.1 million remaining
Read the filing on SEC.gov ↗
Jul 2, 8:16 AM ET
Gentherm and its subsidiaries signed a Third Amended and Restated Credit Agreement on June 29, 2026, with Bank of America, N.A. as administrative agent. It replaces the Second Amended and Restated Credit Agreement dated June 10, 2022, and provides a $550 million secured five-year revolving credit facility. The filing ties this to a proposed transaction with Modine Manufacturing Company and its Performance Technologies business, but does not describe the credit terms as conditional on that transaction.
- Five-year secured revolving credit facility of $550 million, with a $50 million swing line sublimit and a $30 million letter of credit sublimit
- Borrowings priced at a margin of 1.125% to 2.000% over benchmark rates, based on the consolidated net leverage ratio; quarterly commitment fee of 0.150% to 0.250%
- Agreement requires a minimum consolidated interest coverage ratio and a maximum consolidated net leverage ratio
- Replaces the Second Amended and Restated Credit Agreement dated June 10, 2022; the full agreement is filed as Exhibit 10.1
Read the filing on SEC.gov ↗
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