Gentherm’s first-quarter 2020 revenue falls 11.4% y/y to USD228.6 million
Company expects revenue in the second quarter to be significantly lower than the first quarter
Gentherm has reported 11.4% year-over-year (y/y) decline in revenue to USD228.6 million in the first quarter ended 31 March 2020, the company said in a press release on 7 May. Excluding the impact of foreign exchange translations and divested assets, the company’s revenue decreased 7.5% y/y. Operating income declined 14.2% y/y to USD18.7 million. Gentherm concluded the first quarter with net income of USD11.9 million, up 41.2% y/y. The company’s first quarter net income in 2019 was impacted due to one-time impairment loss of USD10.5 million.
Thank you for visiting S&P Global AutoTechInsight.
*A subscription to News & Analysis includes four S&P Global-selected sector-specific analytical pieces per month. Access to all analytic pieces across all domains comes with a subscription to All Domains. Please click here to subscribe.
To get access to the AutoTechInsight full suite of services, please contact a sales representative by clicking here.
Already a subscriber? Please log in here
