Gentherm has posted first-quarter product revenue up 26.2% to US$288.5m.

First quarter highlights

  • Product revenues of US$288.5m increased 26.2% from US$228.6m in the 2020 first quarter
  • Excluding the impact of foreign currency translation, product revenues increased 21.5% year over year
  • GAAP diluted earnings per share was US$0.99 as compared with US$0.36 for the prior-year period
  • Adjusted diluted earnings per share was US$1.04. Adjusted diluted earnings per share in the prior-year period was US$0.51
  • Secured automotive new business awards totalling US$400m in the quarter

“I am pleased with the strong execution by the Gentherm team, especially in light of the headwinds in the global supply chain, allowing us to continue to outperform in Automotive versus the key markets we serve,” said Gentherm president and CEO, Phil Eyler.

“In addition, we secured US$400m of new awards from automakers around the world and continued to make progress on ClimateSense development. While there is still uncertainty in the supply chain, I am proud of our global team for maintaining the momentum on the topline and delivering strong operating performance, while continuing to expand technology leadership.”

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By GlobalData