Gentex tumbles on forecast trim, weak quarterly results
23/10/2026 14:39
BUZZ-Gentex tumbles on forecast trim, weak quarterly results **Shares of auto-parts manufacturer Gentex GNTX.O fall 6.3% to $20.4
** Stock headed for its steepest one day drop since October 2025, if losses hold
** Co cuts FY26 revenue forecast to $2.65 bln, from prior range of $2.65 bln - $2.75 bln
** Forecast cut driven by certain customer issues and delayed launches in the quarter - CEO
** CEO adds "higher precious metal costs which increased bill of material costs has been an ongoing headwind over the last few quarters as these commodity prices have increased significantly"
** Posts Q3 sales of $647.7 mln, missing analysts' estimates of $670.5 mln - data compiled by LSEG
** Including session's move, stock down 6.6% YTD
(Reporting by Anand Gopal in Bengaluru)
Recent news on Gentex
See all newsUS STOCKS ON THE MOVE-Huron Consulting, RingCentral, Selective Insurance
U.S. STOCKS ON THE MOVE-Huron Consulting, Crown Castle, Bloom Energy
Gentex tumbles on forecast trim, weak quarterly results
Gentex Corporation reports results for the quarter ended September 30 - Earnings Summary
Gentex Q3 sales miss expectations on delayed launches; cuts guidance