GNTX - Why Auto Component Maker Gentex Shares Are Seeing Blue Skies Today | Benzinga
Gentex Corp (NASDAQ:GNTX) shares are trading higher after it reported better-than-expected fourth-quarter financial results.
Sales grew 19% Y/Y to $589.1 million, beating the analyst consensus of $560.8 million. EPS of $0.50 beat the analyst consensus of $0.44.
In the fourth quarter of 2023, automotive net sales rose to $578.7 million from $482.9 million the prior year. Auto-dimming mirror unit shipments increased by 12%.
Light vehicle production in the main markets of North America, Europe, and Japan/Korea increased by approximately 6% quarter over quarter.
The gross profit margin of 34.5% expanded from 31.2% a year ...