Gentherm Inc. Files Q3 2024 10-Q Report

TL;DR

Gentherm's Q3 2024 10-Q is in. Check financials for latest performance.

AI Summary

Gentherm Inc. filed its 10-Q for the period ending September 30, 2024. The company reported its financial performance for the third quarter and the first nine months of the year. Key financial metrics and operational highlights are detailed within the filing, providing insights into the company's current standing and future outlook.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for Gentherm Inc., crucial for understanding the company's operational health and making informed investment decisions.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information that could reveal positive or negative trends impacting the company's stock.

Key Numbers

• 20240930 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 20241030 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• Gentherm Inc. (company) — Filer of the 10-Q report
• 20240930 (date) — End of the reporting period
• 20241030 (date) — Date of filing
• 0000903129 (company) — Central Index Key for Gentherm Inc.
• MOTOR VEHICLE PARTS & ACCESSORIES (industry) — Standard Industrial Classification for Gentherm Inc.

FAQ

Filing Documents

• thrm-20240930.htm (10-Q) — 2800KB
• thrm-ex31_1.htm (EX-31.1) — 14KB
• thrm-ex31_2.htm (EX-31.2) — 13KB
• thrm-ex32_1.htm (EX-32.1) — 7KB
• thrm-ex32_2.htm (EX-32.2) — 7KB
• 0000950170-24-119052.txt ( ) — 11222KB
• thrm-20240930.xsd (EX-101.SCH) — 1272KB
• thrm-20240930_htm.xml (XML) — 2488KB

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 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 24 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 37 Item 4.

Controls and Procedures

Controls and Procedures 38

Other Information

Part II. Other Information 39 Item 1.

Legal Proceedings

Legal Proceedings 39 Item 1A.

Risk Factors

Risk Factors 39 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 39 Item 5. Other Information 39 Item 6. Exhibits 40

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) September 30, 2024 December 31, 2023 ASSETS Current Assets: Cash and cash equivalents $ 150,581 $ 149,673 Accounts receivable, net 270,913 253,579 Inventory: Raw materials 141,547 126,013 Work in process 20,116 15,704 Finished goods 72,083 64,175 Inventory, net 233,746 205,892 Other current assets 81,711 78,420 Total current assets 736,951 687,564 Property and equipment, net 253,531 245,234 Goodwill 104,839 104,073 Other intangible assets, net 61,067 66,482 Operating lease right-of-use assets 29,366 27,358 Deferred income tax assets 81,923 81,930 Other non-current assets 30,502 21,730 Total assets $ 1,298,179 $ 1,234,371 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Accounts payable $ 254,555 $ 215,827 Current lease liabilities 7,038 7,700 Current maturities of long-term debt 210 621 Other current liabilities 103,647 100,805 Total current liabilities 365,450 324,953 Long-term debt, less current maturities 222,104 222,217 Non-current lease liabilities 21,929 16,175 Pension benefit obligation 2,805 3,209 Other non-current liabilities 25,182 23,095 Total liabilities $ 637,470 $ 589,649 Shareholders' equity: Common Stock: No par value; 55,000,000 shares authorized 30,976,821 and 31,542,001 issued and outstanding at September 30, 2024 and December 31, 2023, respectively 10,698 50,503 Paid-in capital 4,552 — Accumulated other comprehensive loss ( 35,021 ) ( 30,160 ) Accumulated earnings 680,480 624,379 Total shareholders' equity 660,709 644,722 Total liabilities and shareholders' equity $ 1,298,179 $ 1,234,371 See accompanying notes to the consolidated condensed financial statements. 3 GE

View Full Filing

View this 10-Q filing on SEC EDGAR