Gentex Corp Files Q3 2024 10-Q
Ticker: GNTX · Form: 10-Q · Filed: Nov 1, 2024 · CIK: 355811
Sentiment: neutral
Topics: 10-Q, financials, automotive
TL;DR
Gentex Q3 10-Q filed. Financials for period ending 9/30/24 are in.
AI Summary
Gentex Corporation filed its 10-Q for the period ending September 30, 2024. The company, based in Zeeland, Michigan, reported its financial performance for the third quarter and the first nine months of 2024. Key financial data and operational details are presented in this filing.
Why It Matters
This filing provides investors and analysts with the latest financial performance data for Gentex Corporation, crucial for understanding the company's current health and future prospects in the automotive parts sector.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.
Key Numbers
- 2024 Q3 — Reporting Period (Financials for the third quarter of 2024)
- 2024-09-30 — Period End Date (The end date for the financial reporting period)
Key Players & Entities
- Gentex Corp (company) — Filer of the 10-Q
- Zeeland, Michigan (location) — Company's business address
- September 30, 2024 (date) — End of the reporting period
- 20240930 (date) — Filing date
FAQ
What is the primary business of Gentex Corporation?
Gentex Corporation is primarily involved in the manufacturing of automotive parts and accessories, as indicated by its SIC code [3714].
What is the fiscal year end for Gentex Corporation?
Gentex Corporation's fiscal year ends on December 31st.
When was this 10-Q filing submitted?
This 10-Q filing was submitted on November 1, 2024.
What is the SEC file number for Gentex Corporation?
The SEC file number for Gentex Corporation is 000-10235.
What is the physical address of Gentex Corporation?
Gentex Corporation's business address is 600 N Centennial St, Zeeland, MI 49464.
Filing Stats: 4,385 words · 18 min read · ~15 pages · Grade level 19.3 · Accepted 2024-11-01 13:20:35
Key Financial Figures
- $0.06 — ich registered Common Stock, par value $0.06 per share GNTX NASDAQ Global Select Mar
Filing Documents
- gntx-20240930.htm (10-Q) — 1281KB
- gntx10q09302024-exx311.htm (EX-31.1) — 8KB
- gntx10q09302024-exx312.htm (EX-31.2) — 8KB
- gntx10q09302024-exx32.htm (EX-32) — 4KB
- 0000355811-24-000048.txt ( ) — 7174KB
- gntx-20240930.xsd (EX-101.SCH) — 42KB
- gntx-20240930_cal.xml (EX-101.CAL) — 91KB
- gntx-20240930_def.xml (EX-101.DEF) — 190KB
- gntx-20240930_lab.xml (EX-101.LAB) — 487KB
- gntx-20240930_pre.xml (EX-101.PRE) — 352KB
- gntx-20240930_htm.xml (XML) — 1305KB
- 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 37 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 September 30, 2024 and December 31, 2023 September 30, 2024 (Unaudited) December 31, 2023 (Note) ASSETS CURRENT ASSETS Cash and cash equivalents $ 179,639,743 $ 226,435,019 Short-term investments 20,462,581 14,356,476 Accounts receivable, net 356,338,008 321,809,868 Inventories, net 449,311,020 402,473,028 Prepaid expenses and other 39,932,866 32,663,762 Total current assets 1,045,684,218 997,738,153 PLANT AND EQUIPMENT—NET 703,583,489 652,877,672 OTHER ASSETS Goodwill 340,105,631 340,105,631 Long-term investments 325,561,578 299,080,876 Intangible assets, net 201,604,035 214,005,910 Deferred tax asset 50,192,359 41,113,759 Patents and other assets, net 68,565,533 66,515,551 Total other assets 986,029,136 960,821,727 Total assets $ 2,735,296,843 $ 2,611,437,552 LIABILITIES AND SHAREHOLDERS' INVESTMENT CURRENT LIABILITIES Accounts payable $ 182,606,296 $ 184,398,820 Accrued liabilities 100,558,357 87,210,156 Total current liabilities 283,164,653 271,608,976 OTHER NON-CURRENT LIABILITIES 34,504,848 27,311,507 Total liabilities 317,669,501 298,920,483 SHAREHOLDERS' INVESTMENT Common stock 13,646,597 13,887,326 Additional paid-in capital 1,000,948,512 968,245,875 Retained earnings 1,405,918,157 1,336,940,990 Accumulated other comprehensive loss ( 2,885,924 ) ( 6,557,122 ) Total shareholders' investment 2,417,627,342 2,312,517,069 Total liabilities and shareholders' investment $ 2,735,296,843 $ 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