NASDAQ$GNTX
Gentex Corporation · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Gentex's financial performance declined due to component shortages and supply chain constraints, but the company maintained a solid gross margin and repurchased shares.
Gentex reported a decrease in net sales and net income for the first quarter of 2022, primarily due to component shortages and supply chain constraints affecting light vehicle production. Despite these challenges, the company's gross margin remained within its annual guidance range, and it repurchased 2.44 million shares of its common stock.
- Net sales decreased to $468.3 million compared to $483.7 million in Q1 2021.
- Gross profit margin was 34.3%, down from 37.9% in Q1 2021, impacted by rising costs and lower sales.
- Net income fell to $87.5 million from $113.5 million in the same period last year.
- The company repurchased 2.44 million shares for $71.3 million during the quarter.
Headline financials
Revenue & EPS history
Gentex · Revenue · Quarterly
$468M
Revenue by segment
Gentex · $9.4M total across 1 segment · Q2 2023
- Other Net Sales$9.4M-10.5%100.0%
Forward guidance
The company expects revenue to be difficult to forecast due to volatility in customer orders, supply chain constraints, and economic uncertainty. The company is maintaining its previously provided guidance for calendar year 2022.
Tailwinds
- Light vehicle production is forecasted to increase 9% in 2022 compared to 2021.
- Company expects calendar year 2023 revenue growth of approximately 15% - 20% above the 2022 revenue guidance.
- The company has devoted significant resources to product re-engineering.
- Anticipated record sales levels will help leverage overhead to offset cost increases.
- Consistent and disciplined capital allocation philosophy will result in excellent shareholder returns.
Headwinds
- Revenue will remain difficult to forecast due to high levels of volatility in customer orders and vehicle production volumes.
- Electronics supply chain constraints.
- The Ukraine-Russia conflict.
- Labor shortages.
- Overall economic uncertainty.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2022
-0.9%
Avg return
Earnings day
+0.1%
Avg return
5 days after
+0.6%
Avg return
30 days after
45%
31 / 69 earnings
Positive
+11.4%
Q2 2019
Best reaction
-29.1%
Q2 2012
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.7% | -0.6% | +3.5% | |
| Q4 2025 | -4.3% | +3.4% | -2.7% | |
| Q3 2025 | -10.2% | -9.8% | -14.8% | |
| Q2 2025 | -0.5% | -0.5% | +2.2% | |
| Q1 2025 | -2.8% | -0.9% | -1.6% | |
| Q4 2024 | -8.2% | -10.3% | -13.8% | |
| Q3 2024 | +5.5% | +4.9% | +2.5% | |
| Q2 2024 | -3.7% | -4.6% | -4.1% | |
| Q1 2024 | +0.6% | -2.0% | -0.8% | |
| Q4 2023 | +5.8% | +4.1% | +13.3% | |
| Q3 2023 | -6.7% | -4.3% | +2.8% | |
| Q2 2023 | +5.8% | +6.1% | +0.7% | |
| Q1 2023 | +5.8% | +4.6% | +2.4% | |
| Q4 2022 | -3.0% | +1.7% | -2.4% | |
| Q3 2022 | +3.4% | +0.4% | +12.2% | |
| Q2 2022 | -7.5% | -5.2% | -2.4% | |
| Q1 2022 | +6.8% | +3.5% | +4.3% | |
| Q4 2021 | +0.4% | +2.5% | -3.4% | |
| Q3 2021 | -5.3% | -4.4% | -0.6% | |
| Q2 2021 | +1.3% | +4.2% | -1.7% | |
| Q1 2021 | -0.4% | +0.4% | -2.5% | |
| Q4 2020 | +1.3% | +3.3% | +5.5% | |
| Q3 2020 | +0.7% | -4.0% | +11.7% | |
| Q2 2020 | +2.4% | +4.9% | +2.0% | |
| Q1 2020 | +5.1% | +7.6% | +9.9% | |
| Q4 2019 | -4.0% | -2.0% | -13.7% | |
| Q3 2019 | -0.4% | +1.3% | +3.2% | |
| Q2 2019 | +11.4% | +15.0% | +12.1% | |
| Q1 2019 | +3.0% | +4.6% | -0.6% | |
| Q4 2018 | -8.0% | -9.0% | -11.0% | |
| Q3 2018 | +10.0% | +7.6% | +20.9% | |
| Q2 2018 | -3.8% | -5.0% | +3.3% | |
| Q1 2018 | -6.2% | -2.8% | +1.6% | |
| Q4 2017 | +2.5% | +3.5% | +2.6% | |
| Q3 2017 | -8.5% | -8.1% | -7.8% | |
| Q2 2017 | -9.2% | -7.4% | -8.3% | |
| Q1 2017 | -1.3% | -0.7% | -9.2% | |
| Q4 2016 | -3.4% | -4.7% | -3.6% | |
| Q3 2016 | -2.4% | -3.8% | +3.3% | |
| Q2 2016 | +7.8% | +11.3% | +10.1% | |
| Q1 2016 | +0.2% | — | — | |
| Q4 2015 | +2.6% | — | — | |
| Q3 2015 | -0.1% | — | — | |
| Q2 2015 | -1.8% | — | — | |
| Q1 2015 | -0.3% | — | — | |
| Q4 2014 | -4.4% | — | — | |
| Q3 2014 | +9.3% | — | — | |
| Q2 2014 | +2.0% | — | — | |
| Q1 2014 | +1.1% | — | — | |
| Q4 2013 | -1.9% | — | — | |
| Q3 2013 | +10.4% | — | — | |
| Q2 2013 | -5.0% | — | — | |
| Q1 2013 | +4.1% | — | — | |
| Q4 2012 | +3.0% | — | — | |
| Q3 2012 | -3.4% | — | — | |
| Q2 2012 | -29.1% | — | — | |
| Q1 2012 | -16.4% | — | — | |
| Q4 2011 | -1.4% | — | — | |
| Q3 2011 | +0.7% | — | — | |
| Q2 2011 | -8.1% | — | — | |
| Q1 2010 | -1.2% | — | — | |
| Q1 2011 | +2.6% | — | — | |
| Q4 2010 | -4.8% | — | — | |
| Q3 2010 | +2.8% | — | — | |
| Q3 2009 | +2.8% | — | — | |
| Q2 2010 | -1.9% | — | — | |
| Q4 2008 | -1.9% | — | — | |
| Q2 2009 | -1.9% | — | — | |
| Q4 2009 | -1.9% | — | — |
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