Gentex Corporation (GNTX) Q3 2025 Financial Results Summary

Gentex Corporation (NASDAQ: GNTX), a leading supplier of digital vision, connected car technologies, and consumer electronics, released its financial results for the third quarter (Q3) of 2025 on October 24, 2025. Below is a summary of key highlights and metrics from the report.

Key Financial Highlights

• Consolidated Net Sales: $655.2 million, an 8% increase from $608.5 million in Q3 2024. This figure includes revenue contributions from VOXX International Corporation, which amounted to $84.9 million.
• Core Gentex Net Sales (excluding VOXX): $570.3 million, a 6% decline compared to the same quarter of the previous year.
• Consolidated Gross Margin: 34.4%, reflecting a 90 basis-point increase from 33.5% in Q3 2024. Core Gentex gross margin (excluding VOXX) was 34.9%, showing a growth of 140 basis points.
• Consolidated Income from Operations: $122.3 million, down from $125.7 million in Q3 2024.
• Consolidated Net Income Attributable to Gentex: $101.0 million, compared to $122.5 million in Q3 2024.
• Earnings Per Diluted Share: $0.46, decreased from $0.53 in Q3 2024.

Operational Highlights

• Regional Performance:
• North America: OEM revenue increased 5% quarter-over-quarter due to robust production schedules.
• Europe: Revenue declined 14% due to customer-specific production challenges.

• China: Revenue dropped 35% amid the impact of tariffs.

• Operating Expenses: Increased to $102.8 million from $78.3 million in Q3 2024, attributed mainly to the VOXX acquisition. Core Gentex operating expenses were $79.2 million, up slightly from $78.3 million.

• Total Other Loss: $1.8 million compared to an income of $19.7 million in Q3 2024, mainly due to a one-time gain from the fair value adjustment of the VOXX investment in the prior year.

Share Repurchases

• Gentex repurchased 1.0 million shares of its common stock during Q3 2025, amounting to $28.3 million at an average price of $28.18 per share.
• Year-to-date share repurchases reached 9.8 million shares for a total of $230.5 million, averaging $23.50 per share.

Cash Dividends

• The company declared a cash dividend of $0.12 per share, consistent with Q3 2024.

Future Estimates

• Light Vehicle Production Forecast:
• Global light vehicle production for Q4 2025 is expected to decline approximately 4% compared to Q4 2024.

• Full-year 2025 production projected to be down by 1% compared to 2024.

• Updated 2025 Annual Guidance:

• Consolidated Revenue: $2.50 billion to $2.60 billion (previously $2.44 billion to $2.61 billion).
• Gross Margin: Estimated between 33.5% and 34% (previously 33% to 34%).
• Operating Expenses (excluding severance): $380 million to $390 million (increased from a previous estimate of $370 million to $390 million).

Summary of Financial Metrics

• Revenue Growth:
• Q3 2025 consolidated revenue grew by 8% YoY.
• Core revenue (Gentex alone) experienced a 6% decline.
• Gross Margin Expansion:
• Consolidated gross margin grew by 90 basis points.
• Core gross margin saw a larger 140 basis-point increase.
• Earnings Decline:
• Net income and EPS decreased compared to the prior year, aligning with previous gains related to the VOXX investment.

This financial summary offers a clear view of Gentex Corporation’s performance in Q3 2025, highlighting both growth and operational challenges as well as strategic movements in share repurchases and dividends.

GENTEX CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)

GENTEX CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS