Gentherm Incorporated Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 26, 2023 at 06:00 am EDT
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Gentherm Incorporated reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net income was USD 15.84 million compared to USD 9.83 million a year ago. Basic earnings per share from continuing operations was USD 0.48 compared to USD 0.3 a year ago. Diluted earnings per share from continuing operations was USD 0.48 compared to USD 0.29 a year ago.
For the nine months, net income was USD 22.26 million compared to USD 28.65 million a year ago. Basic earnings per share from continuing operations was USD 0.67 compared to USD 0.87 a year ago. Diluted earnings per share from continuing operations was USD 0.67 compared to USD 0.86 a year ago.
Gentherm Incorporated is a provider of thermal management and pneumatic comfort technologies for the automotive industry and medical industries. The Company operates through two segments: Automotive and Medical. The Automotive segment represents the design, development, manufacturing and sales of automotive climate comfort systems, automotive cable systems, battery performance solutions, and automotive electronic and software systems. Its automotive electronic and software systems include electronic control units for climate comfort systems, electronic control units. Its climate comfort systems include seat heaters, blowers, and thermoelectric devices. The Medical segment is comprised of the results from the patient temperature management business in the medical industry. The Patient temperature management includes temperature management systems across multiple product categories addressing the needs of hyper-hypothermia therapy in intensive care, normothermia in surgical procedures.