GENTHERM Inc
For the period ended Mar 31, 2024. Filed Apr 30, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed Apr 30, 2024
THRM$29.78-2.0%Stored close · as of Nov 10, 2026
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Consolidated Condensed Statements of Income
(In thousands, except per share data)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Product revenues | $356,015 | $363,625 |
| Cost of sales | 267,262 | 282,495 |
| Gross margin | 88,753 | 81,130 |
| Operating expenses: | ||
| Net research and development expenses | 22,745 | 25,145 |
| Selling, general and administrative expenses | 40,721 | 37,042 |
| Restructuring expenses | 7,238 | 1,269 |
| Total operating expenses | 70,704 | 63,456 |
| Operating income | 18,049 | 17,674 |
| Interest expense, net | (3,244) | (4,144) |
| Foreign currency gain (loss) | 2,549 | (2,069) |
| Other income | 973 | 230 |
| Earnings before income tax | 18,327 | 11,691 |
| Income tax expense | 3,542 | 3,728 |
| Net income | $14,785 | $7,963 |
| Basic earnings per share | $0.47 | $0.24 |
| Diluted earnings per share | $0.47 | $0.24 |
| Weighted average number of shares – basic | 31,544 | 33,182 |
| Weighted average number of shares – diluted | 31,691 | 33,386 |
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