Gentex Corp Files Q2 2024 10-Q
Ticker: GNTX · Form: 10-Q · Filed: Aug 2, 2024 · CIK: 355811
Sentiment: neutral
Topics: 10-Q, quarterly-filing, financials
TL;DR
Gentex Q2 2024 10-Q filed. Financials are in.
AI Summary
Gentex Corp filed its 10-Q for the period ending June 30, 2024. The company reported financial results for the second quarter of 2024, detailing its revenues, expenses, and net income. Specific financial figures and comparative data from previous periods are included in the filing.
Why It Matters
This filing provides investors and analysts with the official financial performance of Gentex Corp for the second quarter of 2024, influencing investment decisions and market sentiment.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.
Key Players & Entities
- Gentex Corp (company) — Filer of the 10-Q
- June 30, 2024 (date) — End of the reporting period
- 20240802 (date) — Filing date
FAQ
What were Gentex Corp's total revenues for the second quarter of 2024?
The filing indicates financial results for the period ending June 30, 2024, but specific revenue figures are not detailed in the provided header information.
How does the second quarter 2024 performance compare to the second quarter of 2023?
The filing covers the period from April 1, 2024, to June 30, 2024, and includes comparative data from April 1, 2023, to June 30, 2023, but specific comparative numbers are not in the header.
What is Gentex Corp's fiscal year end?
Gentex Corp's fiscal year ends on December 31.
In which state is Gentex Corp incorporated?
Gentex Corp is incorporated in Michigan (MI).
What is the filing date of this 10-Q report?
This 10-Q report was filed on August 2, 2024.
Filing Stats: 4,411 words · 18 min read · ~15 pages · Grade level 19.6 · Accepted 2024-08-02 09:47:07
Key Financial Figures
- $0.06 — ich registered Common Stock, par value $0.06 per share GNTX NASDAQ Global Select Mar
Filing Documents
- gntx-20240630.htm (10-Q) — 1257KB
- gntx10q06302024-exx311.htm (EX-31.1) — 8KB
- gntx10q06302024-exx312.htm (EX-31.2) — 8KB
- gntx10q06302024-exx32.htm (EX-32) — 4KB
- 0000355811-24-000038.txt ( ) — 7079KB
- gntx-20240630.xsd (EX-101.SCH) — 42KB
- gntx-20240630_cal.xml (EX-101.CAL) — 91KB
- gntx-20240630_def.xml (EX-101.DEF) — 188KB
- gntx-20240630_lab.xml (EX-101.LAB) — 481KB
- gntx-20240630_pre.xml (EX-101.PRE) — 349KB
- gntx-20240630_htm.xml (XML) — 1274KB
- Financial Information
Part I - Financial Information Page Item 1. Unaudited Condensed Consolidated Financial Statements 3 Unaudited Condensed Consolidated Balance Sheets 3 Unaudited Condensed Consolidated Statements of Income 4 Unaudited Condensed Consolidated Statements of Comprehensive Income 5 Unaudited Condensed Consolidated Statements of Shareholders' Investment 6 Unaudited Condensed Consolidated Statements of Cash Flows 8 Notes to Unaudited Condensed Consolidated Financial Statements 9 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 34 Item 4.
Controls and Procedures
Controls and Procedures 34
- Other Information
Part II - Other Information Item 1A.
Risk Factors
Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36 Item 6. Exhibits 36 Signature s 36 Exhibit Index 38 2
—FINANCIAL INFORMATION
PART I —FINANCIAL INFORMATION
Unaudited Condensed Consolidated Financial Statements
Item 1. Unaudited Condensed Consolidated Financial Statements. GENTEX CORPORATION AND SUBSIDIARIES UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS As of June 30, 2024 and December 31, 2023 June 30, 2024 (Unaudited) December 31, 2023 (Note) ASSETS CURRENT ASSETS Cash and cash equivalents $ 260,241,951 $ 226,435,019 Short-term investments 15,534,338 14,356,476 Accounts receivable, net 306,565,681 321,809,868 Inventories, net 463,492,305 402,473,028 Prepaid expenses and other 38,049,578 32,663,762 Total current assets 1,083,883,853 997,738,153 PLANT AND EQUIPMENT—NET 679,486,957 652,877,672 OTHER ASSETS Goodwill 340,105,631 340,105,631 Long-term investments 308,051,778 299,080,876 Intangible assets, net 205,790,910 214,005,910 Deferred tax asset 52,335,039 41,113,759 Patents and other assets, net 68,630,894 66,515,551 Total other assets 974,914,252 960,821,727 Total assets $ 2,738,285,062 $ 2,611,437,552 LIABILITIES AND SHAREHOLDERS' INVESTMENT CURRENT LIABILITIES Accounts payable $ 206,001,837 $ 184,398,820 Accrued liabilities 98,726,663 87,210,156 Total current liabilities 304,728,500 271,608,976 OTHER NON-CURRENT LIABILITIES 33,257,035 27,311,507 Total liabilities 337,985,535 298,920,483 SHAREHOLDERS' INVESTMENT Common stock 13,813,772 13,887,326 Additional paid-in capital 1,000,014,813 968,245,875 Retained earnings 1,394,446,595 1,336,940,990 Accumulated other comprehensive loss ( 7,975,653 ) ( 6,557,122 ) Total shareholders' investment 2,400,299,527 2,312,517,069 Total liabilities and shareholders' investment $ 2,738,285,062 $ 2,611,437,552 Note: The condensed consolidated balance sheet at December 31, 2023 has been derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. 3 GENTEX CORPORATION AND SUBSIDIARIES UNAUDITED CONDENSED C