Gentex Corp slips after 2022 revenue forecast cut

Gentex

22/07/2022 14:09

** Automotive technology supplier Gentex Corp's  GNTX.O 
shares drop 2% to $29 premarket
    ** Company lowers fiscal 2022 revenue expectations to $1.87
bln-$1.97 bln from $1.87 bln-$2.02 bln; analysts had expected
$1.95 bln - Refinitiv
    ** Gentex still expects calendar year 2023 revenue growth of
about 15%-20% above new 2022 revenue forecast
    ** Company reports Q2 revenue and profit below estimates,
hurt by supply shortages, order fluctuations and inflationary
pressures  urn:newsml:reuters.com:*:nGNX50KzMh
    ** Gentex expects many of its inflationary pressures and
supply chain constraints to continue throughout 2022 and into
2023
    ** As of last close, company's shares down 14.9% this year

 (Reporting by Nandhini Srinivasan in Bengaluru)
 ((nandhini.srinivasan@thomsonreuters.com))