Business
Gentherm Reports 2026 First Quarter Results
Revenue Growth of 7.2% (ex-FX) Year-over-Year Delivered Record Quarterly Revenue of $394 Million Expanded Gross Margin versus Prior Year as Operational Initiatives Gain Traction Announced Transformational Combination with Modine Performance Technologies; On Track to Close in 2026 NOVI, Mich., April 23, 2026 (GLOBE NEWSWIRE) -- Gentherm (NASDAQ:THRM), a global market leader of innovative thermal management and pneumatic comfort technologies, today announced its financial results for the first qua
About this update from Gentherm Inc
Revenue Growth of 7.2% (ex-FX) Year-over-Year Delivered Record Quarterly Revenue of $394 Million Expanded Gross Margin versus Prior Year as Operational Initiatives Gain Traction Announced Transformational Combination with Modine Performance Technologies; On Track to Close in 2026 NOVI, Mich., April 23, 2026 (GLOBE NEWSWIRE) -- Gentherm (NASDAQ:THRM), a global market leader of innovative thermal management and pneumatic comfort technologies, today announced its financial results for the first quarter ended March 31, 2026. “Our team executed well in the first quarter. We started seeing the tangible results from our efforts to establish a more robust operating system which drove improved performance on stronger volumes. We also continued progressing our organic growth initiatives in both home and office, and medical markets,” said Bill Presley, the Company's President and CEO. “This quarter also marked a strategic inflection point for Gentherm. Our announced combination with Modine Performance Technologies creates a stronger enterprise, with an expanded product portfolio, broader end market exposure, and clear value creation opportunities.” First Quarter Highlights First Quarter Financial Highlights Presley concluded, “While we navigate any potential near-team volatility, we are strategically repositioning the company, and I remain confident we have the right plan established to drive improved performance over the long-term.” Guidance The Company’s guidance for full year 2026 remains unchanged and is provided below1: 12026 guidance based on tariffs currently in effect as of today, our current forecast of customer orders and expectations of near-term conditions, light vehicle production in our relevant markets decreasing at a low single digit rate for full year 2026 versus 2025, and a EUR to USD exchange rate of $1.16/Euro. Assumes an effective tax rate of ~30%. Does not reflect any impact from the planned combination with Modine Performance Technologies. The Company provides various non-GAAP financial measures in this release. See “Use of Non-GAAP Measures” below for additional information, including definitions, usefulness for investors and limitations, as well as reconciliations below to the most directly comparable GAAP financial measures. Conference Call As previously announced, Gentherm will conduct a conference call today at 8:00 am Eastern Time to...