Gentex Q2 Highlights: Earnings Beat, 26% Sales Growth & More
Portfolio Pulse from Shivani Kumaresan
Gentex Corp reported Q2 FY23 sales growth of 26% YoY to $583.47 million, beating the analyst consensus. Automotive net sales improved by 27% and light vehicle production increased by 18%. The company repurchased 0.9 million shares of its common stock during Q2. Gentex expects FY23 revenue of about $2.2 billion - $2.3 billion.
July 28, 2023 | 3:44 pm
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Gentex reported strong Q2 FY23 results with sales growth of 26% YoY, beating analyst consensus. The company also repurchased shares and expects higher FY23 revenue.
Gentex's strong Q2 results and positive outlook for FY23, along with the share repurchase, are likely to boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100