Gentex (NASDAQ:GNTX) reported a robust double-digit increase in first-quarter revenue, bolstered by the successful integration of its premium audio acquisition and a resilient core automotive business that continues to outperform underlying vehicle production.
The Zeeland, Michigan-based technology supplier posted consolidated net sales of $675.4 million for the quarter ended March 31, 2026, a 17% increase compared to the $576.8 million recorded in the prior-year period.
Core Gentex revenue contributed $586.8 million, growing 2% sequentially despite a 3% decline in global light vehicle production.
The results were significantly buoyed by the VOXX automotive business, which added $88.6 million in revenue and achieved profitability exactly one year after its acquisition.
Profitability metrics saw a notable uptick as the company realized operational efficiencies and a more favorable product mix.
Consolidated gross margin reached 33.8%, while core Gentex gross margin improved by 80 basis points to 34.0%.
GAAP net income attributable to Gentex rose to $98.5 million, resulting in diluted earnings per share (EPS) of $0.46, compared to $0.42 a year ago. On an adjusted basis, diluted EPS reached $0.48.
Meanwhile, the company’s balance sheet remained a focal point of its capital allocation strategy.
During the quarter, Gentex repurchased 3.3 million shares for approximately $71.6 million at an average price of $22.01 per share.
As of March 31, the company maintains a robust liquidity position, even as it navigates ongoing headwinds from tariffs and rising commodity costs, particularly in precious metals.
Confidence in the multi-year product pipeline led management to raise its financial outlook.
Gentex updated its 2026 revenue guidance to a range of $2.65 billion to $2.75 billion, up from its previous estimate.
Furthermore, the company introduced 2027 revenue guidance of $2.80 billion to $2.90 billion, citing expected volume growth in its Full Display Mirror (FDM) and the commercial launch of its dimmable visor technology.