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What Led to Gentex’s Revenue and Income Increase in 3Q15?

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Oct. 22 2015, Published 3:53 p.m. ET

Gentex’s price movement

Gentex (GNTX) has a market cap of $4.6 billion. The stock’s YTD (year-to-date) price movement has been going down quarter-over-quarter in 2015. After the 3Q15 earnings report, GNTX fell by 2.9% to close at $15.55 per share as of October 21, 2015. The price movement on a weekly, monthly, and YTD basis is -0.96%, 1.00%, and -12.2%, respectively.

Technically, the stock has broken major support and is trading below all its moving averages. Currently, it’s trading at -0.05% below the 20-day moving average, -0.13% below the 50-day moving average, and -7.09% below the 200-day moving average.

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The First Trust Consumer Discretionary AlphaDEX ETF (FXD) invests 1.04% of its holdings in Gentex. The ETF tracks an index of large-cap and mid-cap US consumer discretionary stocks. The underlying index uses multifactor selection and tiered equal weighting. The YTD price movement of FXD is 0.01% as of October 20, 2015. The Guggenheim Multi-Asset Income ETF (CVY) invests 0.66% of its holdings in Gentex.

The market caps of Gentex’s competitors are as follows:

  • Johnson Controls (JCI) — $28.8 billion
  • Cintas (CTAS) — $9.9 billion
  • Autoliv (ALV) — $10.09 billion
  • Lear (LEA) — $9.0 billion

Gentex’s performance in 3Q15

The company has reported net revenue of $389.8 million in 3Q15, an increase of 2.8% when compared to the net revenue of $379.3 million in 2Q15. The company’s net income and EPS (earnings per share) have increased to $78.3 million and $0.27 per share in 3Q15, an increase of 5.1% and 8.0% on a quarterly basis.

The company’s cash and cash equivalents have decreased to $564.5 million and inventories have increased to $164.6 million in 3Q15 as compared to cash and cash equivalents and inventories of $569.9 million and $150.8 million in 2Q15. The current ratio and long-term debt-to-equity ratio has been reported as 5.39 and 0.13 in 3Q15.

On August 31, 2015, the company announced a quarterly cash dividend of $0.09 per share on Gentex common stock.

About Gentex

Gentex is a high technology electronics company. It is involved in CMOS camera development and manufacturing, vacuum coatings, automated electronics, and glass bending and fabrication.

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