Gentex Corp

GNTX: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$15.00	Bzbgkl	Hzzqwbr

Parts Shortages Hurt Gentex's Second Quarter Despite Large Year-Over-Year Improvement

David Whiston

Jul 23, 2021

Gentex’s second-quarter results saw significant headwinds from lost production due to parts shortages impacting the auto industry, but we see no reason to change our fair value estimate. Revenue increased by 86% year over year thanks to a soft comparable with the pandemic in 2020, but sales fell by nearly 9% versus second-quarter 2019. Gentex shipped about 2 million less units than it expected at the start of the quarter, which caused diluted EPS of $0.36 to miss the Refinitiv consensus of $0.45.

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