Gentherm THRM
Gentherm reports $405.1M revenue
- Form
- 10-Q
- Filed
- Importance
- Notable
- Accession
- 0001193125-26-428998
- Revenue: $405.1 million for the three months ended Sep 30, 2026
- Net loss: $2.59 million for the three months ended Sep 30, 2026
- Diluted EPS: -$0.08 for the three months ended Sep 30, 2026
- Cash and equivalents: $252.1 million at Sep 30, 2026
Written from the 10-Q on EDGAR. AI can make mistakes. Check the filing.
What changed since last quarter
No new risk factors or legal mentions.
Compared with the 10-Q for the period ended Jun 30, 2026.
| This filing | Previous | Change vs prior 10-Q | |
|---|---|---|---|
| Revenue | $405.1M | $416.17M | −2.7% |
| Operating income and margin | $14.36M · 3.5% | $10.69M · 2.6% | +34%, margin +0.9 pts |
| Operating cash flow | $33.74M | $7.32M | +361% |
| Cash | $252.1M | $213.17M | +18% |
The reading, claim by claim
- Its financial statements report revenue of $405.1 million for the quarter, up 4.7% from a year earlier, and a net loss of $2.6 million.
- The income statement shows product revenues of $405,102 thousand for the three months ended September 30, 2026, against $386,870 thousand a year earlier.
- Gross margin was $94,304 thousand, versus $95,148 thousand in 2025.
- Operating income was $14,363 thousand for the quarter, compared with $23,858 thousand a year earlier.
- Income tax expense was $13,430 thousand, versus $5,935 thousand.
- Diluted loss per share was $(0.08), compared with diluted earnings of $0.49 a year earlier.
- For the nine months ended September 30, 2026, net income was $6,048 thousand, against $15,298 thousand for the same period of 2025.
- Net cash provided by operating activities was $36,007 thousand, versus $87,820 thousand.
- On the balance sheet, cash and cash equivalents were $252,098 thousand at September 30, 2026, compared with $160,833 thousand at December 31, 2025.
- Long-term debt, less current maturities, was $319,531 thousand, versus $189,000 thousand.
- The cash flow statement lists borrowings on debt of $204,000 thousand and an acquisition of a business, net of cash acquired, of $34,152 thousand.
11 of 11 claims matched the filing text.
From the filing's financial data, not stated in its text
From this 10-Q's financial data (XBRL) for the quarter ended September 30, 2026
- Gross margin was 23.3% and operating margin 3.5%.
From the filing
ITEM 1. FINANC IAL STATEMENTS
ITEM 1. FINANC IAL STATEMENTS GENTHERM INCORPORATED CONSOLIDATED CONDEN SED BALANCE SHEETS
(In thousands, except share data)
(Unaudited)
ASSETS
Current Assets:
Accounts receivable, net
326,217
281,083
Inventory:
Raw materials
127,403
128,314
Work in process
44,437
35,429
Finished goods
91,647
88,959
Inventory, net
263,487
252,702
Other current assets
85,678
82,332
Total current assets
927,480
776,950
Property and equipment, net
263,561
270,614
Goodwill
122,258
108,918
Other intangible assets, net
63,858
52,796
Operating lease right-of-use assets
48,674
56,524
Deferred income tax assets
93,853
93,552
Other non-current assets
42,615
37,075
Total assets
$
1,562,299
$
1,396,429
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
Accounts payable
$
298,183
$
260,487
Current lease liabilities
7,846
9,646
Current maturities of long-term debt
912
73
Other current liabilities
144,999
134,104
Total current liabilities
451,940
404,310
Long-term debt, less current maturities10
Non-current lease liabilities
42,469
48,105
Pension benefit obligation
3,281
3,748
Other non-current liabilities
23,760
30,943
Total liabilities
$
840,981
$
676,106
Shareholders' Equity:
Common Stock:
No par value; 110,000,000 shares authorized 30,710,902 and 30,526,231 issued and outstanding at September 30, 2026 and December 31, 2025, respectively
13,442
5,611
Paid-in capital
1,590
1,590
Accumulated other comprehensive loss
( 13,848
)
( 964
)
Accumulated earnings
720,134
714,086
Total shareholders' equity
721,318
720,323
Total liabilities and shareholders' equity
$
1,562,299
$
1,396,429
See accompanying notes to the consolidated condensed financial statements.
3
Table of Contents
GENTHERM INCORPORATED CONSOLIDATED CONDENSED STATEMENTS OF (LOSS) INCOME
(In thousands, except per share data)
(Unaudited)
Three Months Ended September 30,
Nine Months Ended September 30,
2026
2025
2026
2025
$
1,214,974
$
1,115,814
Cost of sales
310,798
291,722
927,016
844,439
287,958
271,375
Operating expenses:
Net research and development expenses
23,465
24,429
71,480
71,203
Selling, general and administrative expenses
51,638
42,875
162,648
122,440
Restructuring expenses, net
4,838
3,986
17,493
10,608
Loss on sale of land and building, net
—
—
—
2,196
Total operating expenses
79,941
71,290
251,621
206,447
36,337
64,928
Interest expense, net
( 3,832
)
( 3,313
)
( 9,755
)
( 10,911
)
Foreign currency gain (loss)
193
339
( 1,104
)
( 27,391
)
Other income (loss)
116
—
300
( 1,124
)
Earnings before income tax
10,840
20,884
25,778
25,502
19,730
10,204
Basic (loss) earnings per share
$
( 0.08
)
$
0.49
$
0.20
$
0.50
Diluted (loss) earnings per share6
$
0.19
$
0.50
Weighted average number of shares – basic
30,672
30,480
30,613
30,619
Weighted average number of shares – diluted
30,672
30,748
31,078
30,802
See accompanying notes to the consolidated condensed financial statements.
4
Table of Contents
GENTHERM INCORPORATED CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME
(In thousands)
(Unaudited)
Three Months Ended September 30,
Nine Months Ended September 30,
2026
2025
2026
2025
Net (loss) income
$
( 2,590
)
$
14,949
$
6,048
$
15,298
Other comprehensive (loss) income:
Pension benefit obligations, net of tax
12
15
38
43
Foreign currency translation adjustments
( 125
)
( 687
)
( 8,107
)
79,364
Unrealized (loss) gain on cash flow hedge derivatives, net of tax
( 1,830
)
25
( 4,815
)
7,144
Other comprehensive (loss) income, net of tax
( 1,943
)
( 647
)
( 12,884
)
86,551
Comprehensive (loss) income
$
( 4,533
)
$
14,302
$
( 6,836
)
$
101,849
See accompanying notes to the consolidated condensed financial statements.
5
Table of Contents
GENTHERM INCORPORATED CONSOLIDATED CONDENSED S TATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
Nine Months Ended September 30,
2026
2025
Operating Activities:
Net income
$
6,048
$
15,298
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
44,201
39,478
Deferred income taxes
( 9,548
)
( 12,836
)
Stock based compensation
10,371
10,573
Loss on disposition of property and equipment
121
2,671
Provisions for inventory
4,086
5,234
Other non-cash items, including unrealized foreign currency (gain) loss
( 1,018
)
30,957
Changes in assets and liabilities:
Accounts receivable, net
( 43,474
)
( 20,543
)
Inventory
( 22,133
)
( 20,136
)
Other assets
( 1,403
)
( 22,325
)
Accounts payable
43,305
33,514
Other liabilities
5,451
25,935
Net cash provided by operating activities8
Investing Activities:
Purchases of property and equipment
( 22,558
)
( 33,378
)
Proceeds from the sale of property and equipment
83
3,770
Acquisition of business, net of cash acquired11
—
Cost of technology investments
( 121
)
( 915
)
Proceeds from deferred purchase price of factored receivables
—
744
Net cash used in investing activities
( 56,748
)
( 29,779
)
Financing Activities:
Repayments of debt
( 85,887
)
( 103,112
)
Cash paid for financing new loans
( 2,761
)
—
Taxes withheld and paid on employees' stock based compensation
( 2,540
)
( 1,306
)
Cash paid for the repurchase of Common Stock
—
( 10,015
)
Net cash provided by (used in) financing activities
112,812
( 42,433
)
Foreign currency effect
( 806
)
4,508
Net increase in cash and cash equivalents
91,265
20,116
Cash and cash equivalents at beginning of period
160,833
134,134
Cash and cash equivalents at end of period
$
252,098
$
154,250
Supplemental disclosure of cash flow information:
Cash paid for interest
$
9,059
$
9,835
Non-Cash Investing Activities:
Period-end balance of accounts payable for property and equipment
$
3,794
$
2,959
See accompanying notes to the consolidated condensed financi
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