Gentex Non-GAAP EPS of $0.58 beats by $0.08, revenue of $651.3M misses by $18.25M

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Gentex press release ( GNTX ): Q2 Non-GAAP EPS of $0.58 beats by $0.08 . Revenue of $651.3M (-1.0% Y/Y) misses by $18.25M . Automotive revenue declined approximately 3% quarter over quarter, reflecting lower revenue in Europe , Japan / Korea , and China

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Gentex reported Q2 non-GAAP EPS of $0.58, beating market expectations by $0.08, but revenue came in at $651.3 million, down 1.0% year-over-year and missing estimates. Automotive revenue fell about 3% quarter-over-quarter due to weakness in Europe and Asia. The market is relieved by the improved profitability while simultaneously reflecting concerns over revenue stagnation caused by slowing global automotive demand. Investors should closely monitor the pace of regional demand recovery and the sustainability of cost reductions.

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