Gentex Q3 sales miss expectations on delayed launches; cuts guidance

Gentex

23/10/2026 13:09

Overview
U.S. automotive electronics supplier's Q3 sales declined yr/yr and missed analyst expectations
Adjusted EPS for Q3 missed analyst expectations
Company repurchased 5.7 mln shares for $132.6 mln in Q3

Outlook
Gentex cuts 2026 revenue guidance to about $2.65 bln from $2.65-$2.75 bln
Company lowers 2026 gross margin outlook to 34.0%-34.5% from 34.5%-35.5%
Gentex maintains 2027 revenue forecast at $2.80 bln to $2.90 bln

Result Drivers
CUSTOMER ISSUES & DELAYS - Co said Q3 revenue was about $35 mln below forecast due to customer issues and delayed launches
CONTENT GROWTH - Co attributed automotive revenue growth in North America to increased content per vehicle
COST PRESSURES - Higher precious metal costs and lower-than-anticipated sales led to unfavorable product mix and reduced operating leverage

Company press release: ID:nGNX242YT0

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Sales
Miss
$647.70 mln
$670.49 mln (7 Analysts)
Q3 Adjusted EPS
Miss
$0.47
$0.50 (6 Analysts)
Q3 EPS
 
$0.43
 
Q3 Net Income
 
$90.60 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the auto, truck & motorcycle parts peer group is "buy."
Wall Street's median 12-month price target for Gentex Corporation is $24.00, about 10.4% above its October 22 closing price of $21.74
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 12 three months ago

Reuters Recommended Reads
Oct 22 - Gentherm Q3 adjusted EPS and EBITDA miss estimates on margin pressure
Oct 22 - Visteon Q3 sales rise, beat analyst estimates
Oct 22 - Valeo posts lower sales as auto industry weakness persists

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)