Gentex Corporation (NASDAQ: GNTX) reported third-quarter FY23 sales growth of 17% year-on-year to $575.85 million, beating the analyst consensus of $566.22 million. EPS of $0.45 beat the analyst consensus of $0.44.
In the third quarter of 2023, automotive net sales were $564.5 million, a 17% increase Y/Y. Auto-dimming mirror unit shipments increased by 10%.
Global light vehicle production in North America, Europe, Japan/Korea, and China increased by approximately 5% compared to the third quarter of 2022.
The gross profit margin of 33.2% expanded 340 basis ...