Why Gentex Missed Q3 Estimates and Cut Its Full-Year Sales Guidance

John Rosevear, The Motley Fool
·3 min read
Why Gentex Missed Q3 Estimates and Cut Its Full-Year Sales Guidance

Auto industry supplier Gentex (NASDAQ: GNTX) reported that its net income fell by 34.5% year over year in the third quarter to $76.7 million ($0.32 per share) as its automaker customers were forced to cut production amid an ongoing global shortage of semiconductors. Gentex is the world's leading supplier of automotive rear-view mirrors that do anything more than simply reflect light. If your car's mirror automatically dims, has any sort of information display embedded in it, or has switches on it that control other functions in your vehicle, it was almost certainly made by Gentex.

Continue reading
  • Up next
  • Up next
  • Up next
  • Up next

Latest Stories

  • Boeing posts a $355 million loss as the plane maker tries to dig out from under its latest crisis

    Boeing said Wednesday that it lost $355 million on falling revenue in the first quarter, another sign of the crisis gripping the aircraft manufacturer as it faces increasing scrutiny over the safety of its planes and accusations of shoddy work from a growing number of whistleblowers. Boeing's CEO said the company is in “a tough moment,” and its focus is on fixing its manufacturing issues, not the financial results. Company executives have been forced to talk more about safety and less about finances since a door plug blew out of a Boeing 737 Max during an Alaska Airlines flight in January, leaving a gaping hole in the plane.

  • Ex-officer wanted for 2 murders found dead in standoff, child found safe after Amber Alert

    Elias Huizar, a former police officer accused in two murders, is found dead in Oregon. An Amber Alert was canceled after Roman Santos was found safe.

  • Mulgrave food pantry receives unexpected $150,000 from province

    MULGRAVE — Shaunna Scott of the Mulgrave and Area Medical Centre’s (MAMC) food pantry is still fathoming the good news. With a $150,000 grant this month from the provincial government, her operating budget has ballooned by ten-fold, literally overnight. “We’re astonished,” says the chair of MAMC, a small but mighty good works agency whose volunteer-run food pantry has provided an essential service for a growing number of people in her community, and neighbouring ones in Guysborough County, over

  • Man City XI vs Brighton: Erling Haaland injury latest, predicted lineup and confirmed team news

    Pep Guardiola has ruled the striker out of the game

  • Dow Jones Futures: Tesla, AI Play Surge On Earnings, Meta Looms

    A rally attempt is underway. Tesla and AI play Vertiv were big earnings winners. Meta and ServiceNow loom tonight.

  • Mulgrave faces ‘dire’ need for Scotia Days volunteers

    MULGRAVE — The Town of Mulgrave is facing stiff headwinds on two separate fronts to recruit volunteers for community programs and events this summer, says Councillor Krista Luddington. “Right now, we are on attempt number three [of] trying to hire a recreation coordinator,” she told The Journal last week. “We’re approaching July when we have our annual Scotia Days Festival (July 12-21) and, typically, the coordinator would be at the helm of that festival.” She said that, while the event has been

  • Ex-DUP leader Sir Jeffrey Donaldson in court on rape and other sex charges

    His wife, Lady Eleanor Donaldson, faces charges of aiding and abetting in connection with the alleged offences.

  • London travel news LIVE: Multiple train lines disrupted after damage to overhead wires near Shepherds Bush

    Three different train lines have been disrupted because of damage to the overhead electric wires between Shepherds Bush and Watford Junction. Trains running between these stations may be cancelled, delayed or terminated and started back from Shepherd's Bush. The operators affected are Avanti West Coast, London Northwestern Railway and Southern.

  • EU Parliament backs clampdown on single-use plastic packaging

    The European Parliament approved a proposed law on Wednesday that would ban certain single-use plastic packaging like mini shampoo bottles in hotels and thin plastic bags for groceries, in an attempt to curb the rising tide of packaging waste. The European Union policy - which still needs final formal approval from EU countries - would introduce sweeping changes to the types of packaging allowed for use by food and drinks companies, restaurants and online retailers. It would ban in the EU, from 2030, single-use plastic packaging items for fruit and vegetables, condiments in fast food restaurants, thin plastic bags for groceries and mini cosmetics bottles in hotels.

  • Daniel Radcliffe plays ring bearer at Lindsay Mendez's wedding

    The Harry Potter alum is currently starring on Broadway alongside Mendez in Merrily We Roll Along. Tony Award winner Mendez married fellow actor J Alex Brinson on 22 April. Mendez's other Merrily We Roll Along co-star, Tony Award nominee Jonathan Groff, served as officiant. The ceremony took place in Central Park, with Mendez's three-year-old daughter Lucy as the flower girl. Mendez and Brinson announced their engagement on Christmas Day, sharing a photo prominently featuring her engagement ring. The couple revealed earlier this month that they're expecting a child together...

  • Former Kentucky superintendent charged with gun on school property has case dismissed

    An attorney argued it infringed on his Second Amendment right.

  • New Housing for Healthcare homes set for completion in December

    GUYSBOROUGH — The Housing Trust of Nova Scotia (HTNS) is sharpening its scissors for a December ribbon-cutting on eight affordable, townhouse-style rental homes it will construct this fall at Cutler’s Brook Estates in Guysborough. HTNS Executive Director Angela Bishop made the announcement at a meeting with Municipality of the District of Guysborough (MODG) Deputy Chief Administrative Officer Shawn Andrews and Guysborough Memorial Hospital Site Lead and Health Services Manager Michelle Myers on

  • Ottawa injects another $36M into vaccine injury compensation fund

    OTTAWA — The federal government has added $36.4 million to a program designed to support people who have been seriously injured or killed by vaccines since the end of 2020. The program was announced shortly after COVID-19 shots first became available to the public, and provides financial compensation to people who were adversely affected by Health Canada-approved vaccines. The Liberals earmarked $75 million for the first five years of the program. To date, a private firm called OXARO has receive

  • Old Dominion Freight Line posts lower-than-expected Q1 revenue on lesser shipments

    U.S. less-than-truckload carrier Old Dominion Freight Line reported first-quarter revenue below above Wall Street estimates on Wednesday, as the company hauled less weight and shipments in the quarter. A shift in consumer spending post-pandemic coupled with global shipping logjams have constrained freight volumes in the industry, impacting profits at carriers such as Old Dominion. It hauled a total of 2.2 million tons of shipments in the quarter, down 3.2% from 2.3 million tons a year earlier.

  • Privacy breaches at St. Martha’s impact nearly 2,700

    ANTIGONISH — Close to 2,700 people can expect to hear from Nova Scotia Health (NSH) after a hospital employee “inappropriately accessed” some or all of their private information – including MSI numbers, home addresses and even triage reports – almost a year ago. “We’re spending a lot of time making sure we know exactly what was touched so that we can contact each of the 2,690 people to work through this with them,” NSH Chief Financial Officer and Vice-President of Corporate Services Derek Spinne

  • At Least 4 Injured After Runaway Horses from Household Cavalry Gallop Through Streets of London

    "All of the horses have now been recovered and returned to camp," an Army spokesperson confirmed to PEOPLE

  • Israel Gaza - live: ‘Extreme force’ unleashed by Israeli forces as civilians flee homes in wave of attacks

    ‘It is as if the war started again’ - Palestinian civilians have fled their homes in northern Gaza following a wave of fresh attacks in the region

  • Will Pippa Middleton receive a royal title when Kate Middleton becomes Queen Consort?

    Pippa Middleton has a very close bond with her elder sister Kate Middleton, but will she have a royal title when she becomes Queen Consort? See details.

  • Surging auto insurance rates squeeze drivers, fuel inflation

    NEW YORK (AP) — Relentlessly rising auto insurance rates are squeezing car owners and stoking inflation. Auto insurance rates rose 2.6% in March and are up 22% from a year ago. Premium costs have been marching steadily higher since 2022, even as inflation at the consumer level steadily cooled from its 9.1% peak in the middle of that year. Consumers have had some relief as the rate of cost increases for food and energy, two key components of most budgets, has eased greatly. But auto insurance and

  • Coronation Street star Stephanie Davis rushed to hospital with suspected pneumonia

    The soap star revealed in a health update that doctors feared she had contracted pneumonia