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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Gentherm
Gentherm (THRM) investor relations material
Gentherm Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary22 Oct, 2026
Executive summary
Q3 product revenue rose 4.7% YoY to $405.1M, while adjusted EBITDA fell to $45.0M and GAAP net income was a $2.6M loss.
The Modine Performance Technologies combination closed October 1, expanding the portfolio and contributing to higher FY2026 guidance through its expected Q4 results.
Automotive awards, product launches and medical expansion supported commercial momentum amid inflation, FX and other cost pressures.
Financial highlights
Q3 product revenue was $405.1M versus $386.9M; gross margin was 23.3% versus 24.6%, and operating income was $14.4M versus $23.9M.
Q3 net loss was $2.6M versus net income of $14.9M; adjusted diluted EPS was $0.33 versus $0.73, and GAAP diluted EPS was $(0.08) versus $0.49.
A 123.9% effective tax rate and higher operating expenses, including merger and acquisition costs, weighed on quarterly earnings.
9M revenue rose to $1.215B from $1.116B; adjusted EBITDA was $143.1M versus $134.2M, and adjusted diluted EPS was $1.90 versus $1.78.
9M operating cash flow was $36.0M versus $87.8M; adjusted free cash flow was $59.5M versus $72.3M.
Outlook and guidance
FY2026 guidance is product revenue of $1.825B–$1.925B, adjusted EBITDA of $210M–$230M and adjusted free cash flow of $100M–$120M.
Guidance includes expected Q4 Modine Performance Technologies contribution of ~$275M revenue and ~$28M adjusted EBITDA; assumptions include low-single-digit light-vehicle production declines and EUR/USD at $1.15.
Legacy 2027 revenue outlook remains $1.7B; broader 2027 guidance was planned for February.
Long-term targets include revenue above $3.5B and adjusted EBITDA of $525M+ by 2030, with $25M of cost synergies expected.
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Latest events from Gentherm
- Record FY revenue and $2.6B in awards support 2024 growth targets.THRM
Q4 2023 - Shareholders approved key merger-related proposals, clearing the way for the planned transaction.THRMAGM 2026
- Transformative combination with Modine targets $3.5B+ revenue and 15%+ margins by 2030.THRMJ.P. Morgan Automotive Conference
- Q2 2026 revenue up 11%, guidance raised, $400M buyback, and IME acquisition completed.THRMQ2 2026
- Modine combination and market expansion drive growth toward $3.5B+ revenue by 2030.THRM2026 Baird Global Consumer, Technology & Services Conference
- All proposals passed, with strong financial results and a major acquisition announced.THRMAGM 2026
- Record revenue, margin gains, and Modine merger highlight strong Q1 and positive outlook.THRMQ1 2026
- Clarifies voting rules for increasing the equity plan share pool by 1.7 million shares.THRMProxy filing
- Q3 revenue and margins rose, $600M in new awards won, but guidance was cut on market headwinds.THRMQ3 2024
Next Gentherm earnings date
Q4 202619 Feb, 2027
Gentherm
Next Gentherm earnings date
Q4 202619 Feb, 2027
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Frequently asked questions
Gentherm Incorporated develops, manufactures, and markets thermal management technologies. The company operates in three segments: Thermostat Solutions, Home Solutions, and Automotive Solutions. The Thermostat Solutions segment offers digital thermostats and related services for residential and commercial customers. The Home Solutions segment produces and sells refrigerators, wine coolers, freezers, beverage centers, dehumidifiers, air purifiers, blowers for heating and cooling; dehumidifiers for heating and cooling; heat pumps for heating and cooling; mini-splits/zone ductless systems for heating and cooling; geothermal products for home improvement contractors serving the residential market; boilers for heating water and space heating; cooking appliances; room air conditioners; furnaces; blowers/cooling systems; components and accessories to all appliances described above; hybrid ventilation systems by providing a single basic model with multiple options so as to allow a customer to purchase the system that fits its needs and budget. The Automotive Solutions segment manufactures condensers for automotive air conditioners. Gentherm Incorporated is based in Northville, Michigan.