Gentherm reports Q3 adjusted EPS 73c, consensus 65c

Reports Q3 revenue $386.87M, consensus $375.15M. “Our third quarter financial and operational performance demonstrated our ability to deliver results, while executing our long-term strategic initiatives. Our commercial momentum continued as we secured $745M of Automotive New Business Awards, keeping us on pace to deliver over $2B for the year. Growth over market in the quarter improved sequentially as we launched several new programs and take rates increased in the China market. Our operational excellence initiatives are gaining traction, which contributed to strong cash generation in the quarter,” said Bill Presley, CEO. “We made great strides on the execution of our strategic priorities in the quarter. Our entrance into another adjacent market with a furniture brand reinforces our confidence in the ability to scale our core technologies across multiple end markets to drive profitable growth. We remain focused on finishing the year strong and positioning Gentherm (THRM) for long-term value creation.”