Gentherm Inc
For the period ended Dec 31, 2024. Filed Feb 19, 2025.
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FY2024 · Filed Feb 19, 2025
THRM$29.78-2.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Income
(In thousands, except per share data)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Product revenues | $1,456,124 | $1,469,076 | $1,204,656 |
| Cost of sales | 1,089,693 | 1,117,452 | 931,006 |
| Gross margin | 366,431 | 351,624 | 273,650 |
| Operating expenses: | |||
| Net research and development expenses | 88,697 | 94,358 | 85,722 |
| Selling, general and administrative expenses | 155,108 | 155,579 | 132,693 |
| Restructuring expenses, net | 13,110 | 4,739 | 637 |
| Impairment of intangible assets and property and equipment | 2,501 | — | 6,291 |
| Impairment of goodwill | — | 19,509 | — |
| Total operating expenses | 259,416 | 274,185 | 225,343 |
| Operating income | 107,015 | 77,439 | 48,307 |
| Interest expense, net | (15,300) | (14,641) | (4,294) |
| Foreign currency gain (loss) | 9,599 | (5,918) | (6,778) |
| Other income (loss) | 951 | (1,926) | 1,147 |
| Earnings before income tax | 102,265 | 54,954 | 38,382 |
| Income tax expense | 37,318 | 14,611 | 13,941 |
| Net income | $64,947 | $40,343 | $24,441 |
| Basic earnings per share | $2.08 | $1.23 | $0.74 |
| Diluted earnings per share | $2.06 | $1.22 | $0.73 |
| Weighted average number of shares – basic | 31,293 | 32,778 | 33,126 |
| Weighted average number of shares – diluted | 31,476 | 33,067 | 33,503 |
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