NASDAQ$THRM
Gentherm Incorporated · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Gentherm achieved record quarterly revenue and significantly outperformed light vehicle production.
Gentherm reported record product revenues of $363.6 million, a 35.9% increase compared to the first quarter of 2022. The company secured $480 million in new automotive business awards and reaffirms its 2023 guidance.
- Product revenues increased by 35.9% to $363.6 million compared to Q1 2022.
- Automotive revenues increased by 36.8% year over year.
- GAAP diluted earnings per share was $0.24, while adjusted diluted earnings per share was $0.49.
- Secured $480 million in new automotive business awards.
Headline financials
Revenue & EPS history
Gentherm · Revenue · Quarterly
$364M
Revenue by segment
Gentherm · $479M total across 5 segments · Q3 2022
- Automotive segment$323M—67.3%
- Climate Control Seats$112M—23.4%
- Lumbar and Massage Comfort Solutions$22.7M—4.7%
- Other Automotive$11.4M—2.4%
- Medical segment$10.4M—2.2%
Forward guidance
The Company reaffirms its full-year 2023 guidance that was initially provided in its year-end 2022 earnings release on February 22, 2023.
Tailwinds
- Product revenues between $1.45 billion and $1.55 billion, based on the current forecast of customer orders, inflation and pricing recovery.
- Light vehicle production in the Company’s key markets growing at a low single-digit rate in 2023 versus 2022.
- EUR to USD exchange rate of $1.05/Euro.
- Adjusted EBITDA between 11.5% and 13.5% of product revenues
- Full-year effective tax rate between 28% and 32%
Headwinds
- macroeconomic, geopolitical and similar global factors on the cyclical Automotive industry
- the production levels of our major customers and OEMs in our key markets and sudden fluctuations in such production levels, in particular with respect to models for which we supply significant amounts of product
- our ability to integrate our recent acquisitions and realize synergies, as well as to consummate additional strategic acquisitions and investments
- our ability to effectively manage new product launches and research and development
- increasing competition, including with non-traditional entrants
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 2023
+0.7%
Avg return
Earnings day
+0.5%
Avg return
5 days after
+0.4%
Avg return
30 days after
56%
37 / 66 earnings
Positive
+18.4%
Q4 2023
Best reaction
-22.7%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +9.3% | +4.0% | +13.7% | |
| Q4 2025 | +1.4% | +10.8% | -10.9% | |
| Q3 2025 | +8.2% | +7.2% | +1.9% | |
| Q2 2025 | -1.7% | -1.9% | -3.4% | |
| Q1 2025 | -0.3% | +3.8% | +8.2% | |
| Q4 2024 | -7.7% | -6.0% | -16.8% | |
| Q3 2024 | +1.0% | +5.8% | +1.4% | |
| Q2 2024 | +7.5% | -1.0% | +0.5% | |
| Q1 2024 | +3.1% | +1.7% | +5.3% | |
| Q4 2023 | +18.4% | +12.8% | +11.5% | |
| Q3 2023 | -22.7% | -23.7% | -11.7% | |
| Q2 2023 | +7.7% | +8.3% | +0.7% | |
| Q1 2023 | +5.1% | +4.5% | +0.7% | |
| Q4 2022 | -7.2% | -9.1% | -17.7% | |
| Q3 2022 | +1.5% | +13.6% | +25.0% | |
| Q2 2022 | -5.9% | -5.1% | -7.7% | |
| Q1 2022 | -1.1% | -6.1% | +1.9% | |
| Q4 2021 | -1.0% | -2.0% | -17.1% | |
| Q3 2021 | -16.8% | -8.6% | -5.2% | |
| Q2 2021 | +15.0% | +15.5% | +22.0% | |
| Q1 2021 | -6.4% | -6.0% | -4.6% | |
| Q4 2020 | +2.3% | +2.7% | +9.6% | |
| Q3 2020 | +4.3% | +10.9% | +28.3% | |
| Q2 2020 | +5.7% | +5.7% | +11.9% | |
| Q1 2020 | +4.7% | +2.3% | +19.3% | |
| Q4 2019 | +5.1% | +0.2% | -38.7% | |
| Q3 2019 | -4.2% | -6.3% | -5.7% | |
| Q2 2019 | +1.0% | +0.5% | -12.3% | |
| Q1 2019 | -0.2% | -0.0% | -6.0% | |
| Q4 2018 | -0.2% | -0.2% | -14.6% | |
| Q3 2018 | +13.3% | +17.7% | +18.5% | |
| Q2 2018 | +6.8% | +9.8% | +18.8% | |
| Q1 2018 | -3.1% | -2.7% | +0.6% | |
| Q4 2017 | +4.1% | -0.3% | +6.8% | |
| Q3 2017 | -6.1% | -4.8% | +0.3% | |
| Q2 2017 | -11.3% | -15.2% | -23.0% | |
| Q1 2017 | +2.3% | +2.2% | +4.0% | |
| Q4 2016 | +6.6% | +2.4% | +3.5% | |
| Q3 2016 | -3.8% | -5.5% | +9.1% | |
| Q2 2016 | -11.7% | -16.8% | -14.1% | |
| Q1 2016 | -15.5% | — | — | |
| Q4 2015 | -0.4% | — | — | |
| Q3 2015 | +7.0% | — | — | |
| Q2 2015 | -0.2% | — | — | |
| Q1 2015 | +2.2% | — | — | |
| Q4 2014 | +5.8% | — | — | |
| Q3 2014 | -5.3% | — | — | |
| Q2 2014 | +2.8% | — | — | |
| Q1 2014 | +6.6% | — | — | |
| Q4 2013 | +14.2% | — | — | |
| Q3 2013 | +14.3% | — | — | |
| Q2 2013 | -7.9% | — | — | |
| Q1 2013 | +8.0% | — | — | |
| Q1 2011 | +2.2% | — | — | |
| Q4 2012 | +1.6% | — | — | |
| Q3 2012 | +6.5% | — | — | |
| Q2 2012 | +10.3% | — | — | |
| Q1 2012 | +1.2% | — | — | |
| Q4 2011 | -4.1% | — | — | |
| Q3 2010 | +0.9% | — | — | |
| Q3 2011 | +0.9% | — | — | |
| Q2 2011 | -6.6% | — | — | |
| Q2 2010 | -6.6% | — | — | |
| Q4 2009 | -6.6% | — | — | |
| Q4 2010 | -6.6% | — | — | |
| Q1 2010 | -3.3% | — | — |
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