Gentherm: Q2 Earnings Snapshot
NORTHVILLE, Mich. (AP) _ Gentherm Inc. (THRM) on Thursday reported second-quarter net income of $24.8 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Northville, Michigan-based company said it had net income of 74 cents. Earnings, adjusted for one-time gains and costs, came to 85 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.
The maker of climate-controlled seats and other products posted revenue of $266 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $251.4 million.
Gentherm expects full-year revenue in the range of $1.11 billion to $1.17 billion.
Gentherm shares have climbed 11% since the beginning of the year. The stock has risen 82% in the last 12 months.