Gentex (GNTX) Q1 2026 earnings summary

Executive summary

• Consolidated net sales reached $675.4 million for Q1 2026, up 17% year-over-year, with VOXX contributing $88.6 million and core Gentex revenue up 2% despite a 3% decline in global light vehicle production.

• Net income attributable to Gentex was $98.5 million (GAAP), with adjusted net income at $103.7 million; diluted EPS was $0.46 (GAAP) and $0.48 (adjusted).

• Share repurchases totaled 3.3 million shares for $71.6 million during the quarter.

Financial highlights

• Gross margin was 33.8% consolidated and 34.0% for core Gentex, up 80 basis points year-over-year.

• Income from operations was $123.7 million consolidated, $117.9 million for core Gentex, and $121.4 million adjusted (non-GAAP).

• Total other loss was $5.6 million, primarily due to lower investment income and impairment charges.

• Effective tax rate was 16.6%.

Outlook and guidance

• 2026 revenue guidance raised to $2.65–$2.75 billion (from $2.60–$2.70 billion); gross margin guidance unchanged at 34–35%.

• Operating expenses (excluding severance/impairments) expected at $410–$420 million; tax rate 16–18%.

• 2027 revenue guidance set at $2.80–$2.90 billion.

• Light vehicle production in primary markets expected to decline 2% year-over-year in 2026.