2023-08-01 06:08:50 ET
- Gentherm press release ( NASDAQ: THRM ): Q2 Non-GAAP EPS of $0.58 beats by $0.06 .
- Revenue of $372.3M (+42.8% Y/Y) beats by $2.99M .
- Product revenues of $372.3 million increased 42.8% from $260.7 million in the second quarter of 2022. Excluding the impact of foreign currency translation, product revenues increased 43.4% year over year
- Automotive revenues increased 45.1% year over year; excluding the impact of foreign currency translation and contributions from the Alfmeier acquisition, automotive revenues increased 19.6% year over year
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The Company reaffirms its full-year 2023 guidance that was initially provided in its year-end 2022 earnings release on February 22, 2023:
- Product revenues between $1.45 billion and $1.55 billion
- Adjusted EBITDA between 11.5% and 13.5% of product revenues (1)
- Full-year adjusted effective tax rate between 28% and 32% ( 2 )
- Capital expenditures between $60 million and $70 million
For further details see:
Gentherm Non-GAAP EPS of $0.58 beats by $0.06, revenue of $372.3M beats by $2.99M