Gentex Q3 Earnings Beat, But CEO Issues Warning Of Potential Q4 Downturn Due To UAW Strikes; Shares Fall
Portfolio Pulse from Nabaparna Bhattacharya
Gentex Corporation reported Q3 FY23 sales growth of 17% YoY to $575.85 million, beating the analyst consensus. However, the company's CEO warned of a potential Q4 downturn due to UAW strikes. The company's shares fell by 6.16% following the announcement.
October 27, 2023 | 4:32 pm
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Gentex's Q3 FY23 results beat estimates, but the company warned of a potential Q4 downturn due to UAW strikes, causing its shares to fall.
Gentex's Q3 results were strong, beating analyst estimates. However, the company's warning of a potential Q4 downturn due to UAW strikes has likely caused investor concern, leading to a drop in the company's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100