Gentherm: 2Q Earnings Snapshot
NORTHVILLE, Mich. (AP) _ Gentherm Inc. (THRM) on Thursday reported second-quarter profit of $2.8 million.
On a per-share basis, the Northville, Michigan-based company said it had net income of 8 cents. Earnings, adjusted for asset impairment costs and non-recurring costs, were 47 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The maker of climate-controlled seats and other products posted revenue of $243.3 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $250.8 million.
Gentherm shares have risen slightly more than 3% since the beginning of the year. The stock has climbed nearly 2% in the last 12 months.