Gentherm 2024 Outlook: Sees Revenue Of $1.45B–$1.47B (Prior $1.5B-$1.6B) Vs. $1.50B Est
Portfolio Pulse from Benzinga Newsdesk
Gentherm has revised its 2024 revenue outlook to $1.45B–$1.47B from the previous $1.5B-$1.6B, citing a decrease in light vehicle production. The adjusted EBITDA margin is expected near the mid-point of 12.5%–13.5%, with no changes in tax rate or capital expenditures.
October 30, 2024 | 10:05 am
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Gentherm has lowered its 2024 revenue guidance to $1.45B–$1.47B from $1.5B-$1.6B, due to a forecasted decrease in light vehicle production. The adjusted EBITDA margin is expected near the mid-point of 12.5%–13.5%.
The revision of revenue guidance downward suggests potential challenges in the market, particularly due to a decrease in light vehicle production. This could negatively impact investor sentiment and the stock price in the short term.
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IMPORTANCE 80
RELEVANCE 100