Gentherm Incorporated Provides Earnings Guidance for the Full Year 2024 and the Year 2026
February 21, 2024 at 06:00 am EST
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Gentherm Incorporated provided earnings guidance for the full year 2024 and the year 2026. For the year, the company expects Product revenues between $1.5 billion and $1.6 billion, based on the current forecast of customer orders, light vehicle production in the Company?s key markets declining at a low single digit rate, and a EUR to USD exchange rate of $1.10/Euro.
For the year 2026, the company expects Product Revenues between $1.9 billion and $2.0 billion.
Gentherm Incorporated is a provider of thermal management and pneumatic comfort technologies for the automotive industry and medical industries. The Company operates through two segments: Automotive and Medical. The Automotive segment represents the design, development, manufacturing and sales of automotive climate comfort systems, automotive cable systems, battery performance solutions, and automotive electronic and software systems. Its automotive electronic and software systems include electronic control units for climate comfort systems, electronic control units. Its climate comfort systems include seat heaters, blowers, and thermoelectric devices. The Medical segment is comprised of the results from the patient temperature management business in the medical industry. The Patient temperature management includes temperature management systems across multiple product categories addressing the needs of hyper-hypothermia therapy in intensive care, normothermia in surgical procedures.