Gentherm Reports $1.07B in H1 Sales
Ticker: THRM · Form: 10-Q · Filed: Jul 31, 2024 · CIK: 903129
| Field | Detail |
|---|---|
| Company | Gentherm Inc (THRM) |
| Form Type | 10-Q |
| Filed Date | Jul 31, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 17 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, earnings, automotive
TL;DR
Gentherm hit $1.07B in sales for H1 2024. Looks solid.
AI Summary
Gentherm Inc. reported its Q2 2024 results, with net sales for the six months ended June 30, 2024, reaching $1.07 billion. The company's financial statements indicate a focus on revenue generation and cost management within the automotive parts and accessories sector. Specific details on profitability and cash flow are available within the full filing.
Why It Matters
This filing provides insight into Gentherm's financial performance for the first half of 2024, impacting investor confidence and potential future stock performance.
Risk Assessment
Risk Level: low — This is a standard quarterly filing with no immediate red flags or significant negative events disclosed.
Key Numbers
- $1.07B — Net Sales (H1 2024) (Represents the total revenue generated by Gentherm in the first half of the fiscal year.)
Key Players & Entities
- Gentherm Inc. (company) — Filer of the 10-Q report
- 20240630 (date) — End of the reporting period for the 10-Q
- $1.07 billion (dollar_amount) — Net sales for the six months ended June 30, 2024
FAQ
What were Gentherm's net sales for the six months ended June 30, 2024?
Gentherm's net sales for the six months ended June 30, 2024, were $1.07 billion.
What is Gentherm Inc.'s Standard Industrial Classification code?
Gentherm Inc.'s Standard Industrial Classification code is 3714, which corresponds to MOTOR VEHICLE PARTS & ACCESSORIES.
In which state was Gentherm Inc. incorporated?
Gentherm Inc. was incorporated in Michigan (MI).
What was the previous name of Gentherm Inc. and when did the name change occur?
The former company name was AMERIGON INC, and the date of the name change was May 3, 1993.
What is the business address of Gentherm Inc.?
The business address of Gentherm Inc. is 21680 HAGGERTY ROAD, NORTHVILLE, MI 48167-8994.
Filing Stats: 4,368 words · 17 min read · ~15 pages · Grade level 17.7 · Accepted 2024-07-31 15:07:19
Filing Documents
- thrm-20240630.htm (10-Q) — 2726KB
- thrm-ex10_1.htm (EX-10.1) — 41KB
- thrm-ex10_2.htm (EX-10.2) — 47KB
- thrm-ex31_1.htm (EX-31.1) — 13KB
- thrm-ex31_2.htm (EX-31.2) — 13KB
- thrm-ex32_1.htm (EX-32.1) — 6KB
- thrm-ex32_2.htm (EX-32.2) — 6KB
- img99452437_0.jpg (GRAPHIC) — 5KB
- 0000950170-24-088484.txt ( ) — 11126KB
- thrm-20240630.xsd (EX-101.SCH) — 1258KB
- thrm-20240630_htm.xml (XML) — 2439KB
Financial Information
Part I. Financial Information 3 Item 1.
Financial Statements (Unaudited)
Financial Statements (Unaudited) 3 Consolidated Condensed Balance Sheets 3 Consolidated Condensed Statements of Income (Loss) 4 Consolidated Condensed Statements of Comprehensive Income (Loss) 5 Consolidated Condensed Statements of Cash Flows 6 Consolidated Condensed Statements of Changes in Shareholders' Equity 7 Notes to Unaudited Consolidated Condensed Financial Statements 8 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 38 Item 4.
Controls and Procedures
Controls and Procedures 40
Other Information
Part II. Other Information 41 Item 1.
Legal Proceedings
Legal Proceedings 41 Item 1A.
Risk Factors
Risk Factors 41 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41 Item 5. Other Information 41 Item 6. Exhibits 42
FINANCIA L INFORMATION
PART I. FINANCIA L INFORMATION
FINANC IAL STATEMENTS
ITEM 1. FINANC IAL STATEMENTS GENTHERM INCORPORATED CONSOLIDATED CONDEN SED BALANCE SHEETS (In thousands, except share data) (Unaudited) June 30, 2024 December 31, 2023 ASSETS Current Assets: Cash and cash equivalents $ 123,466 $ 149,673 Accounts receivable, net 264,759 253,579 Inventory: Raw materials 129,752 126,013 Work in process 17,890 15,704 Finished goods 66,728 64,175 Inventory, net 214,370 205,892 Other current assets 87,091 78,420 Total current assets 689,686 687,564 Property and equipment, net 246,304 245,234 Goodwill 101,822 104,073 Other intangible assets, net 62,082 66,482 Operating lease right-of-use assets 30,631 27,358 Deferred income tax assets 80,264 81,930 Other non-current assets 29,764 21,730 Total assets $ 1,240,553 $ 1,234,371 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Accounts payable $ 222,039 $ 215,827 Current lease liabilities 7,087 7,700 Current maturities of long-term debt 268 621 Other current liabilities 96,724 100,805 Total current liabilities 326,118 324,953 Long-term debt, less current maturities 222,134 222,217 Non-current lease liabilities 21,920 16,175 Pension benefit obligation 2,758 3,209 Other non-current liabilities 27,319 23,095 Total liabilities $ 600,249 $ 589,649 Shareholders' equity: Common Stock: No par value; 55,000,000 shares authorized 31,318,444 and 31,542,001 issued and outstanding at June 30, 2024 and December 31, 2023, respectively 26,539 50,503 Paid-in capital 4,949 — Accumulated other comprehensive loss ( 55,699 ) ( 30,160 ) Accumulated earnings 664,515 624,379 Total shareholders' equity 640,304 644,722 Total liabilities and shareholders' equity $ 1,240,553 $ 1,234,371 See accompanying notes to the consolidated condensed financial statements. 3 GENTHERM INCO