GNTX · Gentex Corporation

Gentex Corporation reported solid first-quarter 2026 results, with consolidated net sales of $675.4 million, up 17% year-over-year, driven primarily by the inclusion of VOXX International (acquired in early 2025), which contributed $88.6 million. Core Gentex revenue (excluding VOXX) grew 2% to $586.8 million, outperforming a 3% decline in global light vehicle production, thanks to strong advanced feature adoption such as Full Display Mirrors and In-Cabin Monitoring Systems. Gross margin improved to 33.8% (34.0% core), up 80 basis points year-over-year, despite headwinds from tariffs and higher precious metals costs. Operating expenses rose to $105.0 million, largely due to VOXX, but core adjusted operating expenses increased only modestly. GAAP net income attributable to Gentex was $98.5 million ($0.46 per diluted share), compared to $94.9 million ($0.42) in the prior year. On an adjusted basis, net income was $103.7 million ($0.48 per share). The company repurchased 3.3 million shares for $71.6 million during the quarter. Management raised full-year 2026 revenue guidance to $2.65-$2.75 billion (from $2.60-$2.70 billion), while maintaining gross margin guidance of 34%-35%. Additionally, the company introduced 2027 revenue guidance of $2.80-$2.90 billion. The results reflect Gentex's ability to grow through content gains and new technology launches despite challenging macro conditions, and the VOXX acquisition is now contributing to profitability.